Best Real Estate Attorneys in Honolulu

FAQs

• What is the non-emergency contact number for the local police station in Honolulu, Hawaii?

  For non-emergency situations in Honolulu, contact (808) 529-3111.

• Where can I get a copy of police reports for incidents related to my case in Honolulu, Hawaii?

  You can obtain a copy of a police report in person at the Honolulu Police Department Records and Identification Division. You can visit them Mondays through Fridays. You may also mail your written request to Honolulu Police Department, ATTN: Records Division, 801 S. Beretania Street, Honolulu, Hawaii 96813. Include relevant information in your request, such as the police report number, names and addresses of the involved party, type of report, date and time of the incident, and birth or death certificate. You must also enclose a signed and notarized request letter to confirm identification, a self-addressed stamped envelope, and payment in the form of cash or check. Each report costs $0.50 for the first page and $0.25 per additional page.

• Does Honolulu require an attorney when purchasing a house?

  In Honolulu, it is not generally required to hire an attorney when purchasing or selling a house or a real estate property. In most transactions, a real estate agent can help buyers and sellers and walk them through the process. However, if you do not have a real estate agent or you need to deal with complex legal matters, it is advisable to hire a real estate lawyer.

• Can foreigners own real estate in Honolulu?

  Although foreigners can buy real estate property in Honolulu, non-Hawaii residents will be subject to tax of 7.25 percent on the sale price or when they sell the property. Additionally, a 15 percent federal tax is imposed for non-U.S. citizens. It may also be difficult for foreigners to finance the property through a local or foreign lender. Thus, it is essential to consult a Honolulu real estate attorney who can help you deal with the intricacies of buying a property in Hawaii.

• When is the best month to sell a house in Honolulu?

  In Hawaii, August is generally the best month to sell a real estate property for a higher price. If you want to sell your house fast, April or May could be the best month to sell your property in Honolulu; it often takes lesser time on the market during these months. Additionally, it could be best to put your house on the market on Thursdays, as properties usually have more exposure on these days.

• What is the real estate tax rate in Honolulu?

  In Honolulu, the real estate tax rate is 0.35 percent of the assessed value for a primary residence home worth less than $1 million. Properties with up to $1 million total assessed value have a 0.45 percent tax rate, while hotels and resorts have a 1.39 percent tax rate. On the other hand, bed and breakfast homes have a 0.65 percent tax rate.

• What is the real property tax exemption in Honolulu?

  Honolulu provides real property tax credit to certain property owners. To be eligible for tax credit, you must have a home exemption in effect on the property at the time of application, and titleholders must not own another property anywhere. The combined gross income of the titleholders must not be more than $60,000. It can be beneficial to consult a Honolulu real estate attorney to help you determine if you can qualify for a tax exemption or not.

• What does a real estate attorney do?

  Real estate attorneys are responsible for preparing and reviewing transactional documents and helping clients with the closing process. They draft purchase agreements, perform title searches, write title insurance policies, disburse funds, and prepare federally mandated HUD-1 settlement statements. They can also help clients understand the tax implications of selling a home. In the case of a dispute between the buyer, seller, or a third party, real estate attorneys also defend clients in court. Even if there is no identifiable dispute over the transaction, an attorney will make sure everyone “plays by the rules” during the purchase or sale.

• Can I purchase property without a real estate attorney?

  In some cases, it’s possible to purchase residential or commercial real estate without consulting a real estate lawyer. However, legal representation is required in approximately 20 states, and some jurisdictions require a lawyer to be present at the closing. Usually, real estate attorneys take over once real estate agents have an offer in hand. Buyers are encouraged to consult an attorney when purchasing damaged or bank-owned property or real estate located in high-risk areas. Attorneys can also assist out-of-town buyers and negotiate favorable solutions if liens, structural issues, or legal challenges crop up during the procurement.

• What does a real estate attorney do for a buyer/seller?

  Real estate transactions may seem cut and dried, but it’s common for unforeseen difficulties to arise. Attorneys who represent buyers or sellers can facilitate a successful transaction while protecting their clients’ interests and preventing costly mistakes. On the buyer’s side, attorneys can provide advice related to financing, estate planning, tax law, and first-time home buyer credits. Real estate attorneys can also help sellers who are dealing with challenges due to liens, structural damage, probate disputes, or uncooperative partners.

• What’s the difference between real estate and property?

  Real estate includes land, permanent structures, and natural resources, such as water, minerals, and trees. Property typically describes personal items and belongings that aren’t permanently attached to land. The transfer of real property includes the bundle of legal rights, which give landowners the freedom to possess or occupy the property, enjoy their land without interference, restrict others’ access to the property, and dispose of their ownership rights as they see fit.

• What happens when a real estate lawyer puts a lien on you?

  In most cases, liens stay attached to the property until the debt is satisfied or the debtor files for bankruptcy. The creditor’s rights vary depending on whether the lien is voluntary or involuntary. Additionally, if a lien has been perfected, that lienholder has priority over other creditors. Voluntary liens are most common when homeowners use their property as collateral against a secured loan. Involuntary liens are typically related to back taxes, court judgments, and child support. Properties are also subject to involuntary mechanic’s or materialman’s liens in case a customer or contractor fails to pay for materials or labor. Liens don’t necessarily prevent someone from transferring property, but most buyers want a title that’s free and clear.

• What does a real estate lawyer do at closing?

  Lawyers perform critical functions during every stage of the closing process. They draft and review documents, negotiate contracts, and finalize all of the details needed to close the sale. Attorneys who represent buyers can negotiate the terms of sales contracts, including contingencies, perform title searches to ensure that the seller can legally transfer ownership, and resolve issues related to third-party claims, liens, and easements. They can also assist with loan paperwork, title insurance, and other financial matters, such as taxes and transfer fees. Real estate attorneys who represent sellers are responsible for handling deeds, insurance declarations, and payoff letters.

• Do I need a lawyer to sell my house privately?

  Not necessarily. Some states require a real estate attorney to be present at the closing, but there are some situations when you might consider hiring one even if it's optional where you live. Examples might include:

  • You're selling the house with an uncooperative partner
  • You've inherited a property from an owner who is now deceased
  • You anticipate tax consequences

• Can a real estate lawyer represent the buyer and seller?

  Generally speaking, no, because the seller and buyer have different priorities when it comes to a home sale, and some of those interests conflict. States have specific laws governing whether or not a real estate lawyer can represent the buyer and seller, and if this does happen, there's often a waiver that has to be signed by both parties acknowledging a conflict exists. States may have different names for a document like this, but it's usually called a Conflict Waiver. Acceptable exceptions for using the same real estate lawyer might include a property being transferred from one family member to another, such as a father to his son.

• How much does a closing attorney cost?

  Some states require a closing attorney, while others deem it optional. The cost of hiring a closing attorney varies widely by the state and law firm you choose. You can expect to pay between $2,500 and $3,000 for a simple buy/sell transaction, but keep in mind that this cost is likely to vary depending on your location and the complexities of the closing.

• Do you need a lawyer to sell land?

  Technically, no, you don't need a lawyer to sell land, but there are some situations when it might be a good idea. You might consider hiring an attorney if you are faced with existing boundary disputes, involved in a sale of land that's partially wetland, or in circumstances concerning tax issues. Specific laws related to land vary by state, but one potential issue is the tax rate, which can differ depending on whether the land can have structures built on it.

• What role does a real estate lawyer play in mortgages?

  Lawyers can assist buyers and sellers in transactions involving bank financing. They can review the fine print, any title insurance declarations, and the mortgage terms. A real estate attorney also will ensure that funds are distributed to the correct parties, especially if there are any outstanding mortgages or liens that need to be paid before the title transfer.