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As an attorney who has practiced real estate law in both Arizona and Texas, I can tell you that the issues facing my former clients back in Texas are the same ones that my current clients in Arizona are facing. Why you ask? Because Arizona and Texas are on a similar growth model. Maricopa County is the fastest growing county in the United States for the third straight year. Buckeye is the fastest growing city in the United States, and Phoenix added more residents than any other city in the U.S.. This means that there are new homes, new neighborhoods, new businesses which result in new issues that all of this growth brings. With that, here are a few of the more common issues in Arizona Real Estate today.
The Most Common Issues involving Arizona Real Estate:
Number One: Landlord Tenant Issues is Quite Possibly the Single Most Common Issue involving Arizona Real Estate Today
The most common issue: Landlord-Tenant issues. This is without a doubt the most common issue. For landlords, it is the non-payment of rent, destruction of property, and/or some other violation of the lease. For tenants, their biggest issues are unsafe living conditions, the Landlord's failure to repair, and retaliatory action from the Landlord. These are big problems in Arizona and HagEstad Law Group is proud to serve both landlords and tenants in these situations.
Number Two: Commercial and Real Estate Sales Contract Disputes are a Common Headache for Arizona Buyers and Sellers
Another common issue is breach of residential or commercial real estate sales contracts. A breach can occur by either the buyer or the seller and if one party refuses to perform, an action can be brought in district court to enforce the contract by seeking damages or specific performance of the contract. Oftentimes, along with a breach of contract claim, parties will add fraud, quantum meruit and other claims as well against the other party.
Number Three: Commercial Real Estate Transactions are Common but Complicated
Commercial real estate transactions can be as complicated as they are common. The process is more complicated than simply negotiating terms and signing the contract. For both the buyer side and the seller side, there is substantial due diligence to be completed, and timelines which must be strictly followed, in order to comply with the terms of the agreement. Care must be taken at each stage of the transaction to ensure compliance with the contract, or you may find yourself in a breach of real estate contract dispute, which can be a costly and lengthy process.
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