Idaho Falls Real Estate Attorneys
Residential and Commercial Real Estate Guidance in Idaho
Buying a new home or entering a new commercial lease can be extremely exciting, but you will need to navigate numerous formalities and take steps to ensure your interests are protected throughout the closing process. Having a legal professional by your side can help get through real estate transactions as efficiently and safely as possible.
At Freedom Law, we are extremely well-versed in all matters of residential and commercial real estate. Our Idaho Falls real estate lawyers have over 15 years of experience and are committed to serving the diverse needs of our clients. We can help you overcome complex obstacles, avoid common mistakes, and provide comprehensive, knowledgeable representation throughout your closing. Your satisfaction is our highest priority, and we will do everything possible to support and advocate for you throughout this complex process.
Schedule an initial consultation with our real estate attorneys in Idaho Falls by contacting us online or calling (208) 271-4403. We offer flexible payment options and provide our legal services in English and Spanish.
Residential Real Estate Closings
Purchasing a home is unfortunately not as easy as agreeing on a price. Once a seller has an accepted offer, you must go through a protracted “closing process,” which will include performing due diligence on the property.
Our Idaho Falls real estate attorneys can assist with each stage of a residential closing, including:
- Opening an Escrow Account. Once the buyer and seller agree on the general terms of the deal, the buyer should place a good faith deposit in a third-party escrow account. The escrow account will continue to hold these funds throughout the closing process and release them once it has concluded.
- Conducting a Title Search. The buyer needs to ensure no undisclosed title defects are encumbering the property. Examples of title defects include conservation easements, liens, mistakes on the property deed, and ongoing boundary disputes. An unresolved title defect can jeopardize your ability to fully use or even retain complete ownership of the property. We can help buyers perform title searches and address any defects that are discovered.
- Obtaining Title Insurance. Buyers should still purchase title insurance policies even if the property has a clean title. Title insurance protects buyers should an undetected title issue arise after closing.
- Completing a Home Inspection. In Idaho, sellers are required to disclose known issues with the property, such as structural damage or pest infestations. Buyers should hire professionals to thoroughly inspect the home for any defects that may not be obvious.
- Renegotiating the Offer. If any problems are discovered, the buyer may need to renegotiate the offer to account for the expenses associated with amending them.
- Reviewing and Signing All Paperwork. After a final walk-through (and a confirmation that all known issues have been addressed), the buyer and seller will sign closing documents, ending the process. Our team will carefully review these documents before you sign. Then, escrow funds will be released, and the buyer will generally assume control of the property.
Commercial Real Estate Assistance
Matters of commercial real estate tend to be even more complex than residential transactions. When considering a lease or purchase of commercial property, a company will need to conduct extensive due diligence to verify the property’s value. A business will also need to confirm the land use and zoning rules are consistent with their intended use for the property.
At Freedom Law, we offer a wide array of real estate services to businesses of all sizes and industries. Whether you are looking to lease a new facility or have become involved in a conflict that requires litigation, our Idaho Falls estate planning lawyers can provide the dedicated guidance and advocacy your company needs to succeed.
Do I Need Title Insurance When Buying a Home in Idaho or Montana?
It is generally a smart idea to get title insurance even if you perform a thorough title search on the property you are intending to purchase. Title insurance can offer financial security if an unexpected title issue arises down the road.
What Are the Advantages of a Conservation Easement?
Beyond environmental mindfulness, a conservation easement can provide considerable tax and estate planning benefits. Because conservation easements cannot typically be undone, they lower a property’s value, thus lowering the property owner’s overall taxable estate. The property owner may also be able to deduct the value of the conservation easement on their personal tax return.
What Is a Conservation Easement in Idaho or Montana?
A conservation easement is a type of voluntary agreement made between a property owner and either a qualifying nonprofit or a government agency. When a property owner decides to establish a conservation easement, they agree to permanently limit the types of development that can occur on that property. For example, a conservation easement on a property with a forest teeming with natural resources may mandate that the forest never be torn down or developed. A conservation easement becomes part of the property’s deed.