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Are You Buying or Selling Property?

According to Statistica, the volume of commercial real estate transactions alone in the United States was forecast to reach 478 billion dollars in 2020. That’s a staggering amount of money exchanging hands. That money also represents the lives of countless hardworking people. Whether it is a home sale or commercial property deal, you should go into the situation with your eyes wide open.

Real estate transactions can be complex. Confirming that all of the legalities have been met will help make the process a smooth one. Hiring a real estate lawyer to assist you when you are buying or selling a property will protect your interests; in addition, you will save money in the long run. The following information will give you an idea of what to think about before buying or selling real estate.

When you’re looking for a knowledgeable and experienced real estate attorney in Northwest Minnesota or Eastern North Dakota, look no further. Thorwaldsen and Malmstrom PLLP has been assisting clients with their real estate law needs for over 50 years. Call us today for a free consultation!

Make Sure All Disclosures Have Been Made

Buying or selling real estate involves entering into a binding contract with another party. You want to be certain that all disclosures have been made and the transaction is completed as required by law. This, of course, needs to be done when you finally close the deal.

A lawyer who is skilled in real estate law will be able to assist you when it comes time to negotiate conditions and draft a purchase agreement. They’ll also be able to help when handling closing documents. He/she will check to see that all titles are clear and that you have adequate title insurance. Without a doubt, they’ll also be by your side at closing.

Are Your Financial Interests Covered?

Because buying or selling residential or commercial property is one of the biggest monetary transactions you’ll make in your lifetime, it’s important that your financial interests are covered. Thorwaldsen and Malmstrom will first evaluate your mortgage agreement. Secondly, we’ll review all loan documents for accuracy and fairness. We do this regardless of whether you are working through a bank, mortgage broker, or making a contract-for-deed purchase or sale. While you may utilize free online forms for this purpose, they may not cover all of the legalities in your particular situation.

Land Use and Commercial Development Projects

How property can be used is often dictated by local, state, and federal regulations. A good real estate attorney can advise you in land use planning and commercial real estate development, including in areas such as zoning and platting. Plus, we’ll ensure that all the necessary government approvals are met, or can be before you delve too deeply into a project or purchase property that ultimately cannot be used for your intended purposes.

Property Leasing

Are you considering purchasing or selling property that is leased, or intended to be leased? The team at Thorwaldsen and Malmstrom is available to help you navigate the many legal issues involved in commercial leasing. From evicting renters or liquidating abandoned personal belongings, and everything in between, we’ll work to understand the intricacies of your situation and provide you with solid legal counsel.

If you are selling leased property, we will see that your needs and legal rights, and those of your tenants, are protected during the negotiation process and beyond. Contact us today for a free consultation concerning your commercial property or agricultural land leasing needs.

Real Estate Litigation

Is there a controversy surrounding a piece of property that is on the market? Because real estate has borders, may involve multiple owners, or maybe rented out, it can become embroiled in disagreements, claims, counterclaims, and lawsuits that can cause problems when you decide to sell your property or are looking at purchasing real estate that is in dispute.

Private landowners may disagree over where property lines are located; home and business owners often find their properties condemned by government officials, and differences can arise over leasing agreements. Clearing these matters up before you list your property for sale will save you headaches along the way. Knowing if a certain piece of property is, or has been, in litigation may change how comfortable you are about buying it.

Whether you are an individual, business owner, or government entity, when it comes to real estate litigation in Detroit Lakes, MN, and the surrounding area, you need an experienced attorney to protect your interests before and after the sale. Our goal is always to settle disputes outside of the court system when possible. We cover the following situations and so much more:

  • Boundary Disputes
  • Conflict of Interest
  • Eminent Domain Cases
  • Landlord and Tenant Disputes
  • Leasing Agreements
  • Rightful Ownership of Property
  • Defective Construction
  • Liens
  • Easements
  • Fraudulent Conveyance
  • Breach of Contract
  • So Much More

The Most Trusted Real Estate Lawyer in MN and ND

Real estate law in Minnesota and North Dakota is complex and changes often. Whether you are buying a business or selling your home, getting help from an experienced legal team will ensure that your rights are protected, today and in the future. Unlike real estate agents, we deal with the intricacies of the law, utilizing thorough planning, intense negotiation, or robust litigation when necessary to benefit you. Contact us today to learn more.