Tolson & Wayment Tolson & Wayment

Idaho Falls Real Estate Lawyers

Comprehensive Residential and Commercial Real Estate Legal Support 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.

Guiding You Through Residential Real Estate Closings in Idaho

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.

Strategic Commercial Real Estate Services in Idaho Falls

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.

Memory updated

Here is an FAQ section for the Idaho Falls Real Estate Lawyers page:

FAQ – Idahokll Falls Real Estate Lawyers

1. Why should I hire a real estate lawyer for a property transaction?
A real estate lawyer ensures that your interests are protected throughout the transaction. They help with due diligence, review contracts, resolve title issues, and handle any disputes that may arise during the process. Their expertise ensures a smoother, legally sound closing.

2. What is the role of a real estate attorney in a residential closing?
In a residential closing, a real estate attorney helps with opening escrow accounts, conducting title searches, obtaining title insurance, and reviewing all necessary documents. They ensure that the property is free of legal issues and that the transaction proceeds without complications.

3. What is a title search, and why is it important?
A title search involves examining the property’s ownership history to ensure there are no defects, liens, or other encumbrances that could affect your ability to own or use the property. Resolving title issues is crucial to prevent future legal problems.

4. What is the difference between residential and commercial real estate transactions?
Residential real estate transactions typically involve personal home purchases, while commercial transactions focus on business-related properties. Commercial deals are often more complex, involving zoning laws, land use regulations, and higher financial stakes.

5. Can you assist with commercial lease agreements?
Yes, our Idaho Falls real estate attorneys can assist with negotiating and drafting commercial lease agreements. We ensure that all terms are favorable to your business and aligned with Idaho real estate laws.

6. What is the importance of title insurance in real estate transactions?

Title insurance is crucial in real estate transactions as it protects buyers from potential defects in the title that may not be discovered during the title search. Even if a property appears to have a clean title, unforeseen issues such as liens or ownership disputes can arise after closing. By obtaining title insurance, you can safeguard your investment and ensure that you have legal recourse if any title problems surface in the future. This added layer of protection is essential for peace of mind when purchasing property in Idaho Falls.

7. How do I prepare for a residential closing in Idaho?

Preparing for a residential closing in Idaho involves several key steps to ensure a smooth transaction. First, it's important to conduct a thorough home inspection and review the seller's disclosures. Next, you should work with your real estate lawyer to open an escrow account and conduct a title search to identify any potential issues. Additionally, reviewing and understanding all closing documents is essential. By being well-prepared and having legal support, you can navigate the closing process confidently and protect your interests throughout the transaction.

Ready to Navigate Idaho Real Estate Transactions? Call (208) 271-4403 or contact us online for personalized advice from Idaho Real Estate Lawyer Aaron Tolson and Andrew Wayment.

FAQ Learn More About How
We Can Help You
  • 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.