Are you thinking of purchasing property in Wilmington? Ensure a smooth and efficient transaction by working with real estate closing attorney Basil Kollias.
Buying a home or business property is always a big investment and never a decision to be taken lightly. Despite rising home prices making Wilmington an increasingly attractive part of Delaware to buy in, risks abound in any purchase, and it is important to take precautions and do everything by the book when buying.
Even when you do everything right, however, it is entirely possible to end up being taken advantage of or to find yourself in a tense situation or dispute. When that happens, a skilled lawyer can help you avoid a formal lawsuit or ensure that you are able to quickly resolve or efficiently win one.
In Wilmington or anywhere in Delaware, whether you are looking for a simple closing or a contentious claim, real estate attorney Basil Kollias can help. As a real estate lawyer with extensive business law and experience working with small businesses, Basil Kollias is an ideal choice for entrepreneurs or families looking to invest or build a future in Wilmington.
Property values are undeniably on the rise in Wilmington, with the average sale price climbing by nearly 50% since 2017. Nevertheless, values still vary wildly in different areas, neighborhoods, and types of property, and many remain below nearby averages, making for attractive yet risky investments.
Whether you are looking to buy a home to build a family in or a business to call your own, signing on a property comes with substantial financial commitment and risk. Including and perhaps especially in Wilmington. As a result, getting an accurate picture of the financial situation of the property before signing on the dotted line is vital.
Getting a title opinion on the property before a purchase can save you extensive grief later down the line, and only a qualified real estate attorney can provide one. In addition to the title opinion, a real estate lawyer like Basil Kollias can also help you identify inspection priorities (and negotiate concessions), coordinate with your bank for the mortgage, and verify the final agreements, contracts and deeds before the final signature.
Delaware tax laws and banking regulations have made it a hub for many virtual or de-located businesses. But brick-and-mortar stores, shops, restaurants and other businesses will always be at the core of the Wilmington economy.
If you are looking to start a business here or expand into or within a community or neighborhood in Wilmington, the property you purchase or rent will end up playing a vital role in your success (or lack thereof). Therefore, it is important to have everything carefully reviewed, from purchase agreements to compliance and inspection reports and even contractor agreements.
Even a small error can represent a significant setback on your path to profitability, so getting a real estate professional to review everything is crucial. An agent can advise (and push sales), but they are not qualified to cover legal advice, nor can they be held accountable if a legal issue does arrive. As a result, you want to make sure you cover your transaction and property with a qualified real estate lawyer.
If you do not, whether it is for a home or business purchase, you could quickly find yourself embroiled in costly real estate disputes or litigation and end up needing an attorney anyway.
Given the sums involved in any real estate transaction, when something goes wrong, any dispute needs to be taken seriously. A simple disagreement or concern can quickly escalate, whether that is over a perceived violation of a contract or deliberate fraud; the consequences are often dramatic and often out of proportion.
While working with a skilled and experienced attorney is often the best way to avoid such a conflict in the first place, bad-faith actors or unexpected complications can cause disputes even with the best possible planning in place. When that happens, a real estate lawyer with litigation experience is essential.
For one thing, a good lawyer with experience dealing with local rules, regulations, and decision-makers will often be able to forestall, avoid, or resolve a dispute before it escalates to the level of an actual lawsuit. But if it does, having a lawyer with connections in the local court and experience arguing similar cases before the relevant judge, whether that is in the Delaware Court Of Chancery or any other.
Kollias Law | A business and real estate attorney ready to assist Wilmington residents and investors alike with closings, contracts, disputes, and litigation.
If you are purchasing or selling property in Wilmington or any other area in Delaware, you need to make sure the legal foundation for your transaction is solid. As your real estate attorney, Basil Kollias can help you proceed with confidence or avoid a disaster you will later regret.
We can only help you if you reach out, however, and you might want to do so sooner rather than later, as the earlier we catch a possible problem, the less dramatic or financially damaging it is likely to be.
Call (302) 444-8140 now or reach out online to set up an appointment to discuss your real estate situation and start working on the next steps or solution.
