Although real estate lawyers oversee the buying and selling of homes, property, and businesses, real estate law encompasses much more. These include land issues pertaining to neighbors, a homeowner’s association, and recording issues including your home loan or deed. A real estate lawyer can assist individuals, small and mid-size business, and large corporations.
Find your Oklahoma City Real Estate Attorney
Not only is Oklahoma City the Capital but it’s also the largest city in the state. Oklahoma City’s strong livestock and energy supply have produced a booming economy and is a magnet for new homeowners. This is where a real estate lawyers’ expertise is beneficial. Whether you are buying or selling, resolving high stakes title disputes, working with developers for expansion, processing sales agreements, or dealing with contract negotiations a real estate lawyer is a wise investment. Often there are simple misconceptions pertaining to real estate law. It is important to understand the difference in a real estate layer and a real estate agent. While a real estate agent can help with the buying or selling of property, they are not allowed to offer any legal advice. Even more, there are special laws in place providing protections to a real estate agent, in the event they do offer bad advice. Do all transactions through a real estate lawyer offers the buyer/seller legal protections against poor advice.
Commercial real estate is a sector based on prior profit and surrounding properties can hold little weight on the property appraisal. Commercial property tends to offer a stability for the involved in property management and upkeep. When considering a commercial transaction consider factors such as region and variables that would influence property management before deciding on a property. This is the same with residential transactions. Considering residential transactions generally revolve around the family, factors such as schools, parks, attractions, and local amenities. The residential transaction process in Oklahoma is relatively simple. The transactions starts with the seller’s “Contract for sale”, which is then executed. Buyers then apply for a loan, once approved the seller must fix any requirements requested by the seller. Following a clear title and other read tape a “closing date” is set. The buyer and seller meet, sign papers, and transfer the deed at the “Closing.” The buyers file the new deed with the County Courthouse. The closing process normally takes four to six weeks.
There are no rules. The purpose of the PSA is to protect the parties rights, obligations and liabilities in order to close the transaction. Every term is up for negotiation. Most CRE agreements include commonly used provisions.
Understanding these provisions is essential for both the buyer and seller:
Oklahoma is rich in gas and oil, and there are laws that pertain solely to the ownership and acquisition of these rights. Although this area is regulated by state law, federal law apply as well. Oil and gas rights are owned by individuals, tribes, corporations, and governments. However, oil and gas rights extend downstream from the property line making it possible for anyone who purchases the property to claim energy rights.
If you find yourself in need of real estate representation for a property or an oil and gas law issue, we highly recommend you use the Oklahoma City Attorney Directory to hire a team that has dedicated a significant amount of time and has experience in this specific field of law.
Looking to Find The Best Real Estate Attorney? Use the Oklahoma City Attorney Directory to help you find an Oklahoma City Real Estate Lawyer near you.