Buying or Selling Property
Racine Olson represents buyers and sellers of real estate from the Tetons to the Treasure Valley. From single-family homes to multi-million dollar commercial and agricultural transactions, we understand how to protect our clients’ interests.Buying and Selling Land in Idaho
Real estate agents provide a valuable service in bringing buyers and sellers together, but property transactions often raise legal issues that go beyond their expertise. We assist buyers and sellers in negotiating and drafting purchase agreements designed to accomplish their objectives and minimize risk. Once a purchase agreement is signed we assist with title review, property inspection, and other due diligence matters. As your attorney, we can help you negotiate a favorable deal, minimize risk and protect your interests when buying or selling property.Types of Real Estate Transactions We Handle
We have experience in essentially all types of real estate transactions, including residential, commercial, agricultural, mining, farm and ranch, wind farm, solar farm, geothermal, easements, 1031 exchanges, subdivision development, and eminent domain. Our special expertise in water rights and natural resources uniquely qualifies us to advise clients buying and selling land for agriculture, development, and mining purposes, and our track record proves it. We have handled many transactions with values in the tens of millions of dollars, including farm and ranch transactions, subdivision developments, commercial buildings, fish hatcheries, mines, and more.Negotiating Purchase Agreements
Every real estate transaction begins with a purchase agreement. The purchase price naturally gets the most attention, yet other terms can be just as important, such as how the purchase will be financed, how much time the buyer will be given to inspect the property and perform due diligence, what types of information will be provided to the buyer, what types of contingencies will enable the buyer to get out of the deal, and what penalties and remedies are available if either party fails to follow through. For buyers it is critical that purchase agreements contain appropriate contingencies to ensure the buyer is not forced to close the purchase if they discover during due diligence that the property does not measure up to their expectations. For sellers it is critical that purchase agreements do not contain inaccurate representations or allow the buyer out of the deal without a legitimate and justifiable reason.Title Insurance Review
Almost all real estate transactions include the acquisition of title insurance, yet many buyers do not understand how to properly scrutinize their title insurance commitment, or why it is important to do so. We frequently assist buyers in reviewing the title commitment to ensure the property is not subject to liens, assessments, easements, or other problems that may get in the way of the buyer’s intended use of the property. In this assignment we work closely with the title company and, when appropriate, a surveyor.Zoning Entitlements
Buyers are often willing to purchase property only if it can be developed or used in a certain way. This must evaluated during the due diligence phase, before the transaction closes, through legal analysis of applicable planning and zoning ordinance regulations, which vary from city to city and county to county. For instance, Ada County may impose restrictions that do not exist in Twin Falls County, Bannock County, or Bonneville County. The same is true for Boise versus Nampa or Idaho Falls versus Pocatello. And when property is located within a city impact zone it may be subject to county regulation, city regulation, or both. Thus, zoning regulations can play an important role in whether a particular piece of property is suitable to meet the buyer’s needs.
We have extensive experience with land development projects and frequently aid clients in analyzing zoning regulations to determine whether a planned project is presently permitted or whether a special use permit or an amendment to the zoning ordinance is required to enable the project to go forward.Access & Easements
Access is another important consideration when purchasing property. Not only must the property itself be suitable for the buyer’s intended use of the property, but there must be suitable access to the property. This is particularly important when land is being developed, as the farm road that has been used historically to cross the neighbor’s property may not necessarily be turned into a two lane paved road without securing a new easement from the neighbor. We can assist buyer’s in analyzing the access to a given parcel and determine whether additional or expanded easements are needed.