There are few things in life that are more exciting than purchasing a new piece of real estate. Whether it is a new home, a new business property, a new piece of vacation land, or anything else, it is critical that you do everything you can to ensure the purchase works out well for you. Unfortunately, many people let the excitement of the process cause them to lose focus and fail to do the necessary due diligence, which can result in some serious problems.
Taking the time to ensure you have the appropriate documentation in place for your purchase may not be fun, but it can help you to avoid major problems in the months and years down the road. Learning about why appropriate documentation is so important will help you to make smart decisions with all of your real estate purchases.
Notarized Is Not Sufficient
One of the biggest problems people run into is when they complete a real estate deal by simply having a notary put their stamp on the paperwork. While a notary public does provide important services, they are not responsible for doing any type of research into what is being notarized. This means that while their stamp can help to show that the parties signed the papers, it does not mean that they are at all authentic.
Title Search Paperwork
You should never purchase any type of property without having a comprehensive title search performed first. A title search can help to uncover a variety of different problems related to the property, including existing liens, that may impact your ownership in the future. A good title search provider will complete their tasks and give you the results so that you can move forward with the purchase confidently.
Written Deed
You also need to make sure that you are getting the deed in writing. This is actually a requirement according to Texas Property Code Chapter 5. This code says that the deed needs to be in writing, and it also needs to have a valid legal description as well as have the grantor sign it. Having an attorney review the deed ahead of time will ensure that it meets the requirements so that the transaction can be completed correctly.
Talk to a Real Estate Attorney
One last thing to take note of is that while real estate agents often provide exceptional and very important services, they are not there to replace an attorney. Real estate transactions are typically going to be major events that have a big impact on your finances for years to come. This is not something you want to try to work through without an experienced attorney to help you navigate. Contact us to schedule a consultation and learn how we can help you ensure you have the appropriate documentation for your deed and that the entire transaction goes smoothly.
Albright & Lumpkin, PC
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