Should You Hire A Real Estate Dispute Attorney?
Posted by Tim Scott on July 20th, 2022
The real estate industry is one of the most affected industries that witnessed dispute resolution. The reason for this is because of the nature of real estate. Real estate refers to any physical or real property like land, buildings, air rights, or underground rights below the land or above the land. It also deals with the construction of new buildings like residential, commercial, or industrial buildings. Dispute resolution or dispute settlement is the process of solving disputes between two parties whenever a conflict arises. The term dispute resolution is also conversely used with conflict resolution. Dispute resolution techniques assist the resolution between parties which include citizens, governments, business entities, and corporations. It can be done in many ways either in courts or using methods like Arbitration, Mediation, or Conciliation which are done outside the courts.
There are several reasons why real estate disputes arise. Incomplete information, the lack of complete information or non-disclosure of facts by the owner or possessor of the property are one of the basic and major causes of conflict in the real estate sector. In most cases, purchasers claim that essential information was not provided to them at the time of purchase. This also includes taxes and bills that were not cleared previously.
In recent times, we see a lot of issues and conflicts between parties related to land acquisition in cities like Palm Beach. Another reason for disputes is delay in possession. In the present situation, due to delay in necessary approvals or permits like getting building permits or environment clearance or a non-agriculture permit and many more, which lead to delay in possessions of flats sometimes, even important projects get deferred because of lack of funds.
Any sort of change can also give rise to conflicts among purchasers because earlier any changes made in the plan or design of a project must be approved by the two-third majority of purchasers. But now, things are different, laws have changed and in many upcoming projects, we often see changes in the plan or layout.
Due to the lack of transparency, it creates mistrust and chaos among buyers. Unlike other sectors where most of the time people get information readily, but in the real estate sector agents don’t get everything served on a platter. Instead in some cases buyers also have to struggle to get inside or detailed information about the project documents or approvals.
There are many states that have even made it mandatory to hire a Real estate dispute lawyer Palm Beach for the closing. However, even if the state you reside in does not have such a requirement, you might want to consider hiring one. The real estate attorney will properly review all of the documentation of the property before the closing and will advise you of any omissions or problems with the paperwork.
The main reason why you should consider hiring a Real estate dispute lawyer Palm Beach is because they can help protect your interests during negotiations with other parties involved in the sale or purchase of property. For example, if there are issues with financing then an attorney can help resolve these issues without having any further complications after closing has occurred.