Real Estate Law
Real Estate holdings are generally ranked amongst the most high value assets that people have. Whether you are purchasing, selling, or renting out your real estate properties for additional cash flow, there are protective measures you will want to have in place. One such measure is the counsel of an experienced legal team. At McCarthy Weidler we can help with the unique issues that arise from complex real estate transactions. We offer a full suite of real estate services to address our clients needs and keep their assets protected.
What is Real Estate Planning?
Sales And Purchases
Our team also offers assistance with your real estate sales and purchases. There is a lot of complex contracts involved in real estate transactions, and it is always a good idea to have a lawyer go through your documents to advise of any potential drawbacks that you should be aware of. Likewise, if you are selling property, you want to make sure that the purchaser does not come back to you after the sale with any issues, and that you limit any further liability in regards to the property. Our team can prepare deeds and any real estate related documents for you. We can also prepare and negotiate agreements (such as purchase agreements, lease agreements, brokerage agreements), or any other type of contract you may need. We are also able to go through your bank financing with you, to ensure that you understand the terms and conditions of your mortgage agreement(s) with your bank. If you are interested in making a secured transaction (using your property as collateral), we can also advise you on the best way to protect yourself and your assets.
Real Estate Rental
If you are an owner of real estate assets that you rent out, then we can help you to protect yourself. We can help whether your properties are for residential or commercial use. One service that owners often call on us to help with is preparing and negotiating their lease agreements. We will ensure that you are protected as a property owner, and that we include clear guidelines for the proper use, maintenance and upkeep of your property. We will also include any penalties for breaking the lease early, as well as provide your tenants with information on what you as the landlord are responsible for while they are renting your property. By having a clear lease agreement, that carefully spells out what is expected from the tenant and what will be provided by the landlord, you can avoid any friction with your tenant, and your involvement with your property investment will run smoothly.
Real estate developers can also count on the team at McCarthy Weidler to support their unique needs. Real estate development comes with its own set of issues, as the developer not only has to deal with selling new construction, but also has to negotiate with the landowner on purchase price as well as deal with the municipality in regards to the planned use of their particular plot of land. Our team can assist you whether you are developing on a small level, or are undertaking a large project such as a subdivision. We can also help draw up the agreements you will need once you are ready to sell or lease your new construction.
Some of our clients are dealing with commercial properties. These properties can come with higher price tags and extremely complex contracts. When it comes to lending for these properties, the process can be lengthy and convoluted. Our team can provide you with professional advice so that you are able to strike the best deal possible. We will also review any contracts before you sign, and suggest amendments and areas for further negotiation. It is always best to have a trusted advisor on your side before you undertake the commercial lending process.
Real Estate Tax Planning
Real Estate has long been touted as a great place to invest your money long term. Even when potential market fluctuations are considered, real estate is still a safe bet for most long term investors. One thing that real estate owners and investors should think about is the tax expenses that come along with real estate transactions. It is imperative that proper planning is put in place to lower your tax expenses, as well as to increase your investment returns. One aspect to plan out well is your Realty Transfer Tax.
There are many components that affect this tax, including the state the property is in. Depending on the type of transfer, your property may be exempt from these taxes. Another aspect that real estate investors can take advantage of professional consultation is in regards to 1031 like kind exchanges. These are real estate transactions that may allow you to defer tax payments on your property. This type of transaction is basically when you swap one asset for another. So perhaps you sell one property, but are using the proceeds to purchase a different property. If the purchase falls within the 1031 guidelines, any capital gains would be tax deferred (potentially for years, until you sell that property for cash). Our expert team can go through your portfolio, and advise of any tax exemptions you may be entitled to.
Whatever your real estate needs are, the McCarthy Weidler team can provide valuable service and advice to you. We can help you with drawing up your legal agreements, negotiate sales, advise you on purchases as well as walk you through your tax options. Real estate is complex, and there is a lot of ground to cover. Our professional team has dealt with all types of properties and agreements, and can provide you with the support you need to make your investments a success.