If you or your company are looking to purchase real estate then you will want to team up with expert lawyers who specialize in land sale and purchase deals. While you may think the transaction may be very straight forward in many cases there are specifics to the Real estate law in your area that could potentially end up costing you extra in the long run. Here is an example of a simple land purchase that ended up going to court because the seller was not aware and did not disclose certain facts based on their knowledge. For a small parcel of land that was being sold the State in which the property was located had a land/swap deal that was taking place because of it’s close proximity to a national forest. The seller was not fully aware of the details and sold the property to a small business looking to gain access to a road that was suitable for their construction business. Without getting into all the technicalities of the deal the buyer was forced to eventually pay over $50K to the state in order to retain the rights of the land and the through roads that went in and around the property. To my knowledge there were only lawyers involved from the contractual side and not well versed in state law on commercial property that was located within a certain radius of state owned land and the easements.
Using a firm that has lawyers that specialize in not only local real estate laws but also have relationships with builders and state officials can prove to save time and money. Law firms like Osborne Clarke have dedicated teams for land and real estate deals that can handle any size transaction and have access to a team of experts across the system in order to help you cover all your basis.
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