San Antonio Residential Real Estate Lawyer

Bexar County Real Estate Attorney for Home Sales and Owner Financing Transactions

Selling a home can be a complex process. A homeowner will want to make sure they will receive a price that will provide for a good return on their investment, and they will also need to meet multiple legal requirements when listing their property for sale, providing the proper disclosures, creating a purchase contract, and completing the home closing process. In some cases, sellers may be able to benefit by listing a home as "for sale by owner" or completing an owner financing transaction. To ensure that all laws and procedures are followed correctly, sellers can work with a real estate attorney who has experience in these matters.

The law office of Geoff Mayfield, Attorney at Law provides representation in multiple types of residential and commercial real estate transactions. Geoff has more than 15 years of legal experience, and with his strong understanding of Texas real estate laws, he ensures that his clients are fully prepared to sell their homes. He will provide guidance throughout the closing process, make sure all legal requirements are met, and address any issues that may affect the completion of a transaction.

For Sale by Owner (FSBO) Transactions

While some homeowners can benefit by working with a real estate agent, others may be looking to complete a transaction more quickly and efficiently by offering their home as for sale by owner. In these cases, sellers will need to make sure they are following the correct legal procedures and taking steps to protect their rights and interests. Geoff can assist with the following issues during an FSBO transaction:

• Negotiating a purchase agreement - After a seller accepts an offer from a buyer, the parties will enter into a purchase contract that details the parameters of the transaction. Geoff can ensure that a contract contains all of the necessary provisions, including timeframes for when different issues must be addressed, inspections and appraisals, contingencies that apply to both parties, and each party's responsibility for paying certain closing costs.
• Providing disclosures - Sellers are required to disclose multiple forms of information about a property, including conditions that may affect people's health and safety, defects or structural issues in a home, homeowner's association fees that will be required, and restrictions on the use of the property. Geoff can ensure that sellers meet their legal requirements when providing these disclosures.
• Title search - Geoff will work with sellers to identify and resolve any encumbrances that may prevent them from transferring the title to a home, such as liens or ownership claims.
• Home closing - Geoff will ensure that all paperwork is prepared, signed, and filed correctly on the closing date, allowing for the successful transfer of ownership of the property.

Owner Financing Transactions

Traditionally, buyers will obtain financing from a mortgage lender when purchasing a home. However, buyers and sellers may also be able to use creative solutions in which the seller provides a loan to the buyer. This may be an option in situations where a buyer cannot obtain financing from a traditional lender. In these cases, a warranty deed will be used to transfer ownership of the property to the buyer, and a deed of trust will provide the seller with a lien against the property. A wraparound transaction may also be used in which the seller will continue to hold the original loan on the property, and the buyer will make monthly payments to the seller, who will in turn make payments to the mortgage lender.

Contact Our San Antonio Residential Real Estate Sales Attorney

If you are looking to sell your home, Attorney Geoff Mayfield can provide you with legal help and representation, ensuring that your rights and interests will be protected throughout the closing process. Contact our office today and arrange a free consultation by calling 210-535-0870. Geoff assists with residential real estate transactions in Bexar County, New Braunfels, Guadalupe County, Del Rio, Comal County, San Antonio, Kerrville, San Marcos, Seguin, Medina County, Wilson County, Hondo, Laredo, Boerne, Blanco County, Kendall County, Frio County, and Atascosa County.