Minnesota does not require a party to hire a real estate attorney for a real estate transaction. However, there are times during a transaction, whether it be residential or commercial, where hiring a real estate attorney may be in your best interest. Real estate transactions are expensive, and a bad transaction can be not only costly, but can create issues for you for years.
Commercial transactions are often complex and high-dollar deals, hiring a real estate attorney to navigate liens, easements, legal description accuracy, etc. can help you successfully navigate through the process. Since a real estate attorney is not working based off of commission, they will not try to simply push a deal through if it is not in your best interest. Hiring a real estate attorney for your commercial transaction can not only streamline the process, but it brings someone to your corner to handle any curve balls, and handle them in a way that best serves you.
Generally a straight forward residential real estate transaction does not require hiring a real estate attorney. However, if you come to discrepancies in paperwork, issues with terms, etc., a real estate attorney can help with drafting amended paperwork, negotiating the terms, etc. Even if you have already started a real estate transaction, it’s not too late to hire an attorney to come to the table to review the deal before finalizing.
If you have a real estate deal that you are hesitant to move forward on, or if you are wanting to purchase your first commercial property and want someone to help you along the way to ensure matters are handled properly, call Ken Wasche today at 763-280-5100.