Performing comprehensive due diligence before purchasing a property can prevent unpleasant surprises after you take possession of a new home or commercial building. Due diligence comprises a number of key activities that include inspections, title searches and an assessment of zoning and homeowners’ association restrictions. Working with a qualified Boca Raton due diligence lawyer is the best way to ensure that your property can be used in the way you intend and that you have free and clear title to your new real estate acquisition.
Commercial and residential property inspections are designed to identify serious structural or mechanical issues with homes and buildings before contracts are signed for the purchase of these properties. Property inspections typically include evaluation of the building’s structural integrity, plumbing, HVAC and electrical systems and the condition of the foundation and roof. They may also include inspections for environmental hazards like mold and radon and pests like termites. You should receive a comprehensive report of the findings after your property inspection is complete.
Liens and judgments against a property can present serious issues for buyers after the sale. Title insurance is issued after a painstaking search of all public records has been completed and no liens, judgments or other ownership issues have been found. If any liens or judgments are identified by your Boca Raton due diligence lawyer, you can choose to walk away from the property or to require that the current owner resolve these problems prior to closing. In either case, you will be protected against the negative effect of ownership issues by your title search and insurance coverage.
Depending on the location of the property you are considering, zoning and use restrictions may present real issues for your future plans. By working with a qualified Boca Raton due diligence lawyer from Berkowitz and Associates, you can determine whether zoning regulations and homeowners’ association rules will prevent you from using the property as intended. This can prevent unpleasant surprises and wasted time and effort on your part and can help you make the best possible choices when managing your real estate acquisitions.
If you are considering the purchase of a property in Boca Raton, call Berkowitz and Associates today at 561-982-7800. Our Boca Raton business law firm team of qualified real estate attorneys will work with you to determine the right solutions for all your current and future due diligence needs. We look forward to the chance to serve you.