Whether you are buying a commercial property, vacation home or your first home here in Delaware, the process can be intimidating. Real estate transactions typically have several moving parts, and keeping on top of everything that needs to be done can be frustrating. If one step is missed, the entire transaction could fall apart or cause you additional frustration, time and money in the future.
From the moment that you decide to put an offer on a property, you will undoubtedly have questions. The answers to those questions could change the course of the entire transaction. Negotiating a price for the property is only the first of many steps that will need to be handled before you can call the property yours.
Once a price is negotiated, it will be necessary to ensure that when you receive the title to the property, no one else can lay claim to it. A search will need to be done to determine whether there are any liens on the property from tax authorities, construction contractors or subcontractors or others. You will need to know if there are any easements on the property as well. For example, utility companies often have the right to use a certain portion of the property to lay pipes, cable or other items necessary to provide utilities to your property and other properties in the area.
The first person you will need to look to for answers and assistance is an attorney who understands the real estate process and the laws here in Delaware that pertain to real estate transactions involving a variety of properties. This person will be your point of contact with appraisers, realtors and mortgage lenders, among others who might be needed in order to complete your purchase. Purchasing a piece of property is one of the most important things you will do, and the process should be as smooth and frustration-free as possible.