Why You Should Hire a Real Estate Lawyer
October 1, 2021

The decision to buy or sell real estate is rarely one to take lightly. It may be one of the most significant financial transactions you will make in your lifetime. When you’re planning on making such a substantial investment, we recommend you consult with an attorney experienced in all facets of real estate transactions early in the process, before finalizing any purchase or sales agreement.  Located in Middlebury, Vermont, we are knowledgeable about real estate transactions, and all other aspects of real estate law, including title disputes, zoning issues, ownership disputes, partition, and other complications that may arise. 

 

At Deppman Law PLC, our team is experienced in real estate matters, and represents clients in the purchase and/or sale of Vermont homes and commercial properties.  We also represent clients in cases involving foreclosures, evictions, partitions, title disputes, boundary disputes, other landlord-tenant disputes, and homeowners’ association issues. Benj and Lesley Deppman prepare and review contracts, negotiate terms favorable to our clients, and ensure your rights and best interests are protected every step of the way.

 

Do I Need a Middlebury Real Estate Attorney?

 

Despite our recommendation, above, in home sales and purchases, a real estate lawyer may not come into the picture until well into the process, after both parties have signed a purchase and sale agreement.  While it is not a legal requirement to work with a real estate attorney in Vermont, doing so can save you significant time, money, and stress. Real estate transactions are complicated.  Title searches and title insurance are unique to real estate.  Preparing a deed constitutes the practice of law in Vermont.  Also, there are a lot of technical tax forms and certifications that may be included in a transaction, so the vast majority of people find it advantageous to hire a lawyer to assist them through the transaction.


Even in seemingly-straightforward real estate transactions, minor errors and unintentional oversights can easily lead to costly mistakes that could have been anticipated — and avoided — by having an attorney by your side. Although not all transactions are the same, Deppman Law offers many services depending upon your needs.  We can:

  • Review your contract terms to ensure that they are fair and protect your best interests;
  • Perform a title search to determine if there are easements, covenants, liens or other encumbrances attached to the title; 
  • Issue title insurance as needed or requested;
  • Resolve title issues, often by working with the other party’s attorney;
  • Work with the lender (if applicable) to make sure their requirements are satisfied;
  • Form a business entity for you to utilize in taking title to the property; and,
  • Represent you at closing


We recommend you have a real estate attorney by your side for any type of real estate transaction. 

 

Buyers should be represented by a VT Real Estate Attorney

 

If you are a buyer involved in a real estate transaction, you should not move forward without legal representation. There are many types of real estate transactions, including purchases of:

  • Bank-owned properties;
  • Multi-family properties; 
  • Operating farms;
  • Conserved properties or properties enrolled in Vermont’s “Current Use” property tax program;
  • Residential real estate in a new subdivision with multiple permits;
  • Condominiums;
  • Properties in common interest communities;
  • Properties involved in foreclosure or requiring a short sale;
  • Properties in Vermont when you are from out of state;
  • Properties with structural issues;
  • Properties at estate sales;
  • Commercial properties; and
  • Properties with area-specific problems, such as high radon levels, or those that are located in a flood zone. 


Further, real estate transactions include many technical items, and a knowledgeable attorney will help you navigate them (e.g., warranty deed, quit claim deed, option to purchase, right of first refusal, easement, mortgagor, mortgagee, rights of way, covenants, powers of attorney, prorations, etc.).  Also, transactions involve Vermont specific taxes (real estate withholding, transfer tax, land gains tax) and federal taxes (e.g., capital gains, FIRPTA).  Certain transactions require certain disclosures, and others do not (e.g., compliance with Vermont’s carbon monoxide and smoke detector law, compliance with Vermont’s “public buildings” laws, etc.).  The Buyer’s attorney typically acts as settlement agent, and prepares the settlement statement or Closing Disclosure which itemizes all of the financial aspects of the transaction.


Sellers should be represented by a VT Real Estate Attorney

 

Sellers should retain the services of a real estate attorney when engaged in a real estate transaction.  The Seller’s attorney will help navigate the sale of property:

  • That is jointly owned, when the joint owner is uncooperative; 
  • With structural issues; 
  • With liens or judgments against it;
  • With area-specific issues, such as radon;
  • In preparing the deed, transfer tax return, required disclosures, and other tax, transfer or title clearing documents;
  • To which the Seller is an executor, agent under power of attorney, guardian, or other fiduciary. 


The Seller’s lawyer typically prepares the deed, transfer tax return, and other documents that may be needed (affidavits, certifications, certificates, powers of attorney, etc.).  The Seller’s attorney also obtains the payoff statement for any mortgage debt or lien being paid off, and makes sure a certificate of occupancy or certificate of zoning compliance is issued if the transaction requires one.  If the title search performed for the Buyer reveals a title issue, the Seller’s attorney typically works on resolving the title issue. 

 

Choosing a Real Estate Lawyer

 

Given the technical issues and the substantial assets at risk, it’s crucial to choose an experienced real estate lawyer with a good reputation.  Also, you should feel comfortable with your lawyer. Real estate law is constantly evolving, so it’s important not to hire an attorney who just dabbles in the area. 


Use the initial consultation as an interview. Ask the attorney about real estate law, how many cases they’ve handled similar to yours, how they handle communication, and what they charge for legal services. 


In addition to gathering important information and determining if the lawyer has the experience and knowledge to protect your best interests, this is also a great opportunity to gauge whether you like working with this particular individual. After all, selling and purchasing real estate can be a very personal, even emotional process; having a trusted lawyer by your side can make all the difference!   

 

Contact Deppman Law PLC Today

 

Whether you are buying a piece of bare land, a large operating farm, a commercial property, a modest condo or a multimillion Dollar residence, the legal team at Deppman Law can help. We will review your unique circumstances to ensure that your best interests are protected throughout the process.


Contact Benj or Lesley today at 802-388-6337 for a confidential consultation about your case.

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