Residential & Commercial Real Estate
Our Maine real estate lawyers bring a wealth of experience and a track record of countless successful results to the table. At Moncure & Barnicle, we offer high-quality counsel you can trust, ensuring that your real estate transactions and legal matters are handled with the utmost care and expertise.
We understand the intricacies of Maine's real estate laws, and we're dedicated to providing top-tier legal guidance. Whether you're a buyer, seller, developer, or investor, our team is here to protect your interests and offer the sound advice you need. Contact us for a free phone consultation and let us help you navigate the complexities of real estate law in Maine. Your peace of mind is our priority.
Real real estate matters we handle:
- Residential/Commercial Purchase/Sale
- Commercial Leasing
- Residential Landlord representation
- Easements/Boundary disputes
- Partition and Quiet Title Actions
Legal Requirements for Residential Property Transactions
In Maine, residential property transactions entail specific legal requirements. To initiate the process, a purchase and sale agreement must be drafted, detailing the terms and conditions of the transaction. Buyers often perform due diligence, including property inspections.
Title searches are conducted to ensure clear title, and title insurance is commonly obtained to protect the buyer. In addition, a closing statement, also known as the Settlement Statement, outlines the financial aspects of the transaction.
The property is officially transferred from the seller to the buyer at the closing, where both parties sign the required paperwork in the presence of their attorneys.
Deeds to real estate are registered with the county registration. Prorated property taxes are paid, together with any necessary state transfer taxes. A successful residential real estate transaction in Maine depends on adherence to local real estate laws, which can differ.
Real estate transactions near coastal areas in Maine require careful attention to environmental considerations. Coastal properties often face unique challenges due to their proximity to the ocean. Coastal erosion, storm surges, and sea-level rise should be evaluated to assess potential risks. The property's topography, including the elevation in relation to the floodplain, is critical in understanding vulnerability to flooding. Wetlands and shoreland zoning regulations also play a crucial role, as these areas are subject to specific development restrictions.
Environmental due diligence, including soil and water testing, may be required to discover any contamination issues that may influence the value and use of the land. Compliance with state and local regulations governing coastal development, setback restrictions, and coastline protection permits is critical. These factors help to guarantee that coastal homes are both environmentally sound and legally compliant, protecting the interests of both purchasers and sellers in real estate transactions.
Contact us or call (207) 209-2902 for a free phone consultation with a real estate attorney in Maine at Moncure & Barnicle.