The Role of Escrow in Private Sales: Why It Is Still Essential
Evans Law Blog
by Evans Law
2M ago
In the realm of private sales, buyers and sellers often eschew many of the steps and procedures taken during sales between strangers. However, even if you are engaging in a private sale with someone you know well, it’s important to protect both parties’ best interests by using escrow. Escrow is a neutral third party that holds parties’ funds and ensures that both parties are protected until the sale is complete. Even if it takes a bit more time or money to utilize an escrow service, doing so can save you from significant financial losses should the sale fall through. Trust and Safety for Both ..read more
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Navigating the Complexities of Commercial Sales with Historical Buildings
Evans Law Blog
by Evans Law
2M ago
Historical buildings have a beautiful, rich history that adds to the character of the cities and neighborhoods where they reside. However, selling these properties comes with a long list of complicating factors and complexities that can draw out the process. Finding the right buyer can take a long time; while many people want the appeal and uniqueness of a historical building, not everyone can handle the regulatory requirements and limitations of an old building. Whether you are on the buyer’s or seller’s side of the transaction, anticipating these complexities can save you stress and time dur ..read more
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Joint and Several Liability in Leases: Protecting Yourself in a Shared Rental
Evans Law Blog
by Evans Law
2M ago
Renting a property with roommates is a cost-effective way to have your own private space but still avoid shouldering the costs of housing on your own. Still, it is a major commitment—the terms of your lease spell out your exact rights and obligations, but many tenants simply give their lease a quick look before they sign it and move on. One question that you should ask before signing is if you and your roommates have joint and several liability for the lease. We’ll explain what this means, the risks of it, and how you can protect yourself as a renter. What is Joint and Several Liability? Joint ..read more
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The Role of Appraisals in Dispute Resolution
Evans Law Blog
by Evans Law
3M ago
Real estate disputes are complex and difficult to compromise on, thanks to the fact that you’re discussing property worth hundreds of thousands of dollars. When you are actively trying to settle a property dispute, you must be prepared to bring facts to the table. Cold, hard numbers and indisputable facts can swing a dispute in your favor and help you get one step closer to securing a fair resolution. Appraisals are a useful tool in these situations, often bringing much-needed impartial insight to disputes.  Learn more about how appraisals work, how they may assist with your property disp ..read more
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Title Issues in Private Transactions: When the Past Comes Knocking
Evans Law Blog
by Evans Law
3M ago
Real estate transactions are fraught with potential issues. At any point in a transaction, financial problems, documentation issues, or legal problems can put the transaction on hold or even terminate a contract. Unfortunately, the issue is even more prominent in private real estate transactions. These private sale contracts often take place between friends, family members, or close neighbors.  When people trust the person they’re doing business with, they’re more likely to gloss over checks and balances that protect them from later issues. It’s easier to skip your due diligence when you ..read more
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Legal Concerns When Converting Commercial to Residential Spaces
Evans Law Blog
by Evans Law
3M ago
The world of real estate is constantly evolving and changing. The pandemic changed a lot about how space is used and what type of space is even needed in different communities. With a growing amount of companies allowing employees to work from home, the need for commercial space is starting to dip in some areas. In response, some have begun revitalizing vacant commercial spaces by turning them into residential properties. This tackles two problems—the cost of maintaining vacant property and the housing crisis. However, there are issues to consider before property developers and owners can move ..read more
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Deed Transfers Between Acquaintances: Ensuring Every Detail is Legally Sound
Evans Law Blog
by Evans Law
4M ago
Transferring property is a significant legal matter requiring intensive attention to detail, an in-depth understanding of real estate law, and a knowledge of your rights and responsibilities. When you’re transferring property between friends or acquaintances, it’s common to hit some bumps in the road. People may expect you to bypass important steps or cut corners to save money, even when doing so is not in your best interests. It’s important to understand what a deed transfer entails and how you can protect yourself at every turn. An Overview of Deed Transfers A deed transfer is a legal transf ..read more
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Commercial Lease Renewals: Negotiating Terms in a Changing Market
Evans Law Blog
by Evans Law
4M ago
As you approach the end of your lease period, it’s time to decide what you want to do next. If you like your current location but find the lease terms to be less than favorable, you may be interested in negotiating terms that are more to your benefit. It’s important to be prepared, though—jumping into a conversation about a lease renewal without any planning can lead to disaster. Keep these tips in mind as you decide how you want to proceed with your Maryland commercial lease. Understanding Market Dynamics It is crucial that you understand the current commercial real estate market before decid ..read more
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Pets and Leases: Navigating ‘No Pet’ Clauses and Emotional Support Animals
Evans Law Blog
by Evans Law
6M ago
Renting out a house or apartment requires an in-depth understanding of both real estate and discrimination laws, as unintentionally violating either could land you at the center of a lawsuit. If you have a strict no-pet policy in your rentals, you may wonder what means for applicants with service animals or emotional support animals.  This is an area where you must tread carefully. Violating the rights of someone with a disability could not only get you in legal trouble, but it could also destroy your reputation as a landlord in Annapolis. If you have an applicant wishing to bring their e ..read more
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Private Sale Contracts: Crafting a Legally Binding and Fair Agreement
Evans Law Blog
by Evans Law
6M ago
Private property sales make up a substantial amount of real estate transactions every year. While the vast majority of transactions happen with the help of agents on both sides, about 10% of sales happen through for-sale-by-owner (FSBO) transactions. When you conduct business without a realtor, you have to work much harder to ensure that everything is above board, legally enforceable, and fair.  Small mistakes in contracts or negotiations can lead to the entire deal coming apart and being reversed. Contracts are tricky, and without careful drafting and review, you could end up with legall ..read more
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