Millions of real estate transactions take place every year. Many people believe that real estate transactions are standard and that they don’t require the expertise of a real estate lawyer. Unfortunately, this results in serious legal problems.
Are you planning to buy or sell a property? Hiring a real estate lawyer protects your interests while ensuring you get the outcome you want.
What Does a Real Estate Attorney Do?
A real estate attorney specializes in real estate transactions. As experts, they’re familiar with the entire process of buying or selling a home. As such, they can represent buyers, lenders, or sellers.
When Do I Need a Real Estate Attorney?
There are several instances where a real estate attorney is helpful in the home-buying or purchase process. Some of these instances include:
Yes, the real estate agents will come up with the purchase contracts. So, why do you need an attorney? A lawyer reviews the terms and conditions in this contract.
Further, real estate agents don’t draft a contract from scratch. They’re limited to filing out contract templates. For this, lawyers are required to draft complex contracts.
When involving the lawyer at this stage, give some few days for legal review of the contract. Doing so helps avoid potential problems in the future. But how? The attorney uses their experience to make favorable contingencies to you.
The contract plays a vital role in real estate transactions. Most of the issues contained therein are negotiable. These issues may include:
It’s important to undertake a home inspection before closing the deal. The inspection report may unearth structural flaws in your property. With this, you can negotiate with the seller on the party to cater to these costs. In some cases, you can withdraw from the purchase contract without any fine or penalty.
A real estate attorney will help you undertake a title search. The search plays a vital role in the purchase of any real estate property. For instance, it may unearth that the property you intend to buy has a lien.
Yes, you have a timeline that stipulates when to close the deal. Unfortunately, other factors affect this timeline. These issues are largely beyond your control and may include unexpected delays by the lender.
It’s the climax of a home sale or purchase exercise. The exercise involves dozens of legal documents including contracts to review.
Reviewing these documents may intimidate or confuse first-time home buyers. That’s why you need a real estate lawyer to help you navigate through the process. Your lawyer will negotiate for repairs, review the title, and monitor the financing method. Further, they’ll explain all the mortgage documents to you.
Find a Reputable Real Estate Attorney Today
Are you planning to buy a real estate property? Is this your first time making the purchase? Then, you need a competent and licensed attorney to help you navigate the process. We at Handelin law are determined to help you get your dream house. Contact us today at (775) 882-8032. Alternatively, you can visit our website to book an appointment.