Investing in the real estate market is a great idea for people who have saved a bit of money. If you have a sizeable nest egg, and are looking to increase your savings, you should seriously consider buying property. Having some property in your name can help you in many ways. Even if you aren’t living in the place yourself, you can rent it out to a tenant and make some money on the side while you look for a buyer who’s willing to meet your demand.
However, while the rewards are pretty high in the real estate market, it’s important that you take a few steps to protect yourself. There are proper legal laws in place for the sale and purchase of real estate, and you have to be careful when preparing the documents for the property. In most cases, you will require solicitor conveyancing services. Conveyancing is a common service offered by most solicitors throughout the country. If you don’t have a solicitor to give you legal guidance and protection when making purchases in the real estate market, you might find yourself in hot water. Here are just some of the many different ways by which a solicitor can help you out.
Sales and Purchase of Freehold and Leasehold Properties
If you are looking to purchase freehold land, or any property from another seller, you will need a solicitor by your side. Influential real estate investors usually have a team of solicitors to help them out with their investments. The solicitors will check the legal title of the building and make sure that all legal documentation relating to the place is in order.
If you want to grant a new lease to a tenant, you will need to have a solicitor draw up the documentation for it. The solicitor can also help you with the right way to purchase, as well as with re-mortgaging any property. You will need to discuss your options with the solicitor, who will then guide you while keeping with the tenets of property law.
Issues with Tenants
If you are facing any issues with tenants, you should know that the law provides protection for both parties. Rather than causing a ruckus, you should contact your solicitor, who will send a show-cause notice to the tenants and file an application in the court to have the tenant legally evicted for not meeting the stipulations written in the contract.
There are many other services that solicitors offer which you might require from time to time, especially if you are thinking of becoming a real estate investor. They can help you with transfers of equity, shared ownership agreements, compulsory purchases of land, as well as with the declarations of trust that must be filed for properties which are jointly owned. These are some of the key services that most solicitors offer. As you can see, it’s essential that you contact a reputable solicitor to help you out with these issues.