Do I Need Representation As A Real Estate Investor?
The Florida real estate market moves fast, and anyone who wants to invest in it must move fast as well. However, doing so is not without its pitfalls, whether they may come from outside factors or a lack of understanding of terms. Enlisting an attorney to help safeguard your interests can save you considerable time and trouble.
Too Many Variables To Go Without
The difficulty in determining whether representation is necessary in your Florida real estate investments is that every situation is different. There are so many potential variables that trying to navigate a real estate transaction without assistance may mean that the average investor winds up in over their head. Many investors have knowledge of one area of real estate, but may be out of their element if something changes, and given the changeability of the market, it is easy to make mistakes.
There are three major areas where an un-initiated investor can trip up: taxes, structural issues, and landlord/tenant concerns. A capable Florida real estate attorney can help with all of these potential issues, and more specialized problems that may be unique to your situation. For example, depending on the scale of investment, the attention of the U.S. Committee on Foreign Investment in the United States (CFIUS), which is empowered to investigate the transactions of foreign investors in relation to U.S. national security concerns. Dealing with these issues alone is generally not recommended.
Nature & Method Of Investment Can Change
In addition to the nature of a constantly evolving real estate market, it can also be difficult to determine exactly how an investment should be handled. Some investors may choose to take a more hands-on approach; others may prefer to have their business handled by an experienced professional. For larger investments, an attorney may be required to help create a Real Estate Investment Trust (REIT) or seek other financing opportunities. An investor must do their due diligence in terms of both one’s ability to pay and one’s compliance with all the relevant laws.
Even if you decide to forge ahead on your own, it may be possible to enlist an attorney to correct errors after the fact. Real estate attorneys may be able to help guide investors through dealing with tax liens, missed inspections, or any other detail that they may have overlooked. The most important thing is to safeguard the validity of your investment, and it is generally optimal to have a professional on your side through the process.
Contact A Tampa Real Estate Attorney
Investment in real estate can be a lucrative enterprise, but only with the right help to navigate what can be a complex process. A Tampa real estate attorney from the Seward Law Office can assist you with your intended aims – from financing to closing, we are ready to assist you. Contact our office today at 813-252-6789 to schedule a consultation.
Source:
home.treasury.gov/policy-issues/international/the-committee-on-foreign-investment-in-the-united-states-cfius
