Washington, DC, and Maryland Real Estate Attorneys
Investing in or selling real estate is an excellent opportunity for new and seasoned real estate entrepreneurs, and the Washington, DC, and Maryland metropolitan area is the ideal location to do so. But with complex laws in DC and Maryland, having knowledgeable real estate attorneys on your side is critical to protecting your legal rights and investment.
The Griffin & Griffin LLP team has over 75 years of combined experience with real estate of all types in Washington, DC, and Maryland. We have extensive hands-on knowledge helping landlords, tenants, corporate clients, and businesses enter and stay compliant in the competitive real estate market. From churches to banks to hotels and everything in between, our team has helped a wide array of clientele confront and overcome real estate issues big and small.
What Does a Real Estate Attorney Do?
Real estate attorneys are a vital part of any transaction concerning property, whether it be a land use or zoning issue, property tax matter, purchase, sale, or lease. It’s essential to hire a lawyer that understands the nuances of the law in your state so they can help you limit your potential liability while maximizing your investment potential. Here are just some of the vital functions of a real estate attorney.
Draft and Review Legal Documents
Every legal document has a purpose and a consequence. In real estate transactions, parties are often inundated with legal paperwork and may be tempted to sign papers without reading them closely. But doing so can cause unexpected legal issues later on. Lawyers review legal documents carefully and purposefully and help you understand their meaning. If an agreement doesn’t make sense or would increase your liability, the attorney can explain it to you before you sign on the dotted line.
Real estate attorneys also draft the necessary documents to effectuate real estate transactions, such as the bill of sale, purchase and sale agreement, modification letters, and property deeds.
Assist with Complex Corporate Transactions
When businesses complete real estate transactions, they may have to follow specific procedures. Lawyers can review corporate documents, such as bylaws or articles of organization, to determine what formalities need to be completed for the parties to go through with a sale or purchase. Our team has extensive experience in the corporate space and can help business clients prepare the necessary documents to hold a vote or get permission to proceed with a transaction.
Explain Complex Real Estate Laws
Washington, DC, and Maryland both have unique real estate laws that can be difficult for non-lawyers to understand. If someone guesses wrong, they can be legally liable for things without knowing. An attorney helps safeguard clients against these types of surprises, taking the time to research and explain the operative real estate laws throughout the transaction.
Many real estate issues don’t come up for years. Because of this, it’s critical to have a trained eye to review the paperwork when the transaction is live to limit the potential for these issues to crop up decades down the road. Lawyers painstakingly review the circumstances and applicable law to understand the legal context of the purchase, sale, or other transaction. They pass this on to clients in a way that makes sense.
Mark G. Griffin takes great care when communicating and working with real estate clients because he’s been in their shoes. He has personally developed four hotels and played a role in developing many other commercial and residential real estate projects. Because of this experience, Mark understands firsthand what his real estate clients care about and makes sure to take their concerns and priorities into account.
Protect Your Legal Rights
The most essential function of an attorney is to protect your legal rights. Regardless of the size or scope of the real estate matter, legal rights are at the heart of it. Any misstep or misunderstanding can lead to a legal battle that the client didn’t anticipate or ask for, which is why it’s crucial for clients to hire an attorney they trust. For example, a title attorney can review the chain of title and make sure the seller has full rights in the property and the authority to sell it. If there are any issues with the title, the attorney can take steps to resolve those and minimize the impact on the overall transaction.
What Is TOPA?
The Tenant Opportunity to Purchase Assistance or TOPA DC law empowers tenants to exercise the right to purchase the building they live in if the landlord lists it for sale. Tenants of an establishment listed on the real estate market are given priority over other potential buyers and have access to financial resources to cover the cost of the building. Moreover, TOPA helps renters organize a tenant association and write real estate documents (like restrictive covenants). As of 2018, TOPA does not cover single-family homes (exceptions apply).
TOPA requires landlords to follow strict rules when offering or selling rental property to tenants. Landlords may be subject to fines or further liability if they don’t follow these regulations.
Our team understands the challenges facing landlords and tenants in Washington, DC, and can help them navigate them effectively and efficiently. We have helped landlords meet their legal requirements under TOPA, such as posting sufficient notices of the sale and negotiating the terms. Tenants have also successfully relied on us in TOPA transactions to help them negotiate a fair offer, draft the appropriate tenant association documents, and navigate the real estate transaction.
When to Hire a Real Estate Attorney
No law in Washington, DC, says you must hire a real estate attorney, but ideally, you will hire one early in the process. The sooner you bring on an attorney, the better equipped they are to help you avoid legal missteps and create a smooth path to your desired outcome.
And unlike other stakeholders—like brokers and bankers—real estate attorneys work for you, not their bottom line. They are your advocates and champions throughout the transaction or property dispute.
Griffin & Griffin LLP: Washington, DC, and Maryland Real Estate Attorneys
If you want to invest in or sell real estate, having the right legal team can make an enormous difference. Griffin & Griffin LLP provides personal legal representation to clients throughout Washington, DC, and Maryland. Mark Griffin has over 49 years of valuable experience practicing law. In addition, he has served on the Washington, DC Real Estate Commission as well as the Board of Directors of two National Banks.
If you are buying or selling real estate, have a problem with a real estate lender or are involved in a property dispute, contact our team today by calling 202-429-9000 to schedule a consultation.