Real Estate Law

As a home buyer or seller, you expect your real estate professional to guide you through the transaction while ensuring no significant problems with your deal. For this reason, most believe that buying and selling real estate does not require the assistance of a real estate attorney.

However, there are times where failure to work with a lawyer results in legal troubles for both homebuyers and sellers. And unfortunately, it is not as uncommon as you may think. Here are the reasons why you should work with a real estate lawyer to protect your investments and ensure that property transactions do not lead to legal troubles. Let’s start with the basics of real estate law.

How Does a Real Estate Attorney Assist Clients?
Lawyers that specialize in real estate law facilitate the buying and selling of real property. Similar to real estate salespeople, attorneys are familiar with the process of buying and selling property. Yet, unlike agents, real estate attorneys have experience with contract law, home inspections, and property closings. Therefore, they are the perfect advisor for those looking to conduct property transactions, regardless of whether an individual wants to purchase or sell a home.

Real estate lawyers have specialized knowledge that can prevent common pitfalls from occurring, which are expensive and time-consuming. By working with an experienced attorney, you receive help from a legal professional that works on your behalf to conduct a successful property transfer while following all laws.

Why Should I Use a Real Estate Attorney?
There are several reasons why you should always have a real estate attorney on your team as you buy or sell a property. Here are some situations where it is essential to have a lawyer working on your behalf.
While Drafting Contracts During the Homebuying Process

How well do real estate agents understand the legal language in the purchase contracts they provide?
Unfortunately, real estate agents do not create their contract templates and instead use resources provided by their brokerage company. Sometimes, these contracts are missing essential terms and conditions, which can ruin or delay a deal.
Fortunately, a real estate lawyer knows how to review and add contingencies to purchase contracts. Although a review takes several days, having a legal professional draft a new contract can make the arrangement more favorable for buyers or sellers while also preventing costly mistakes from occurring.

But what exactly are some common issues that buyers and sellers experience when they fail to work with an attorney on the deal? Here are several moments during the transaction where real estate lawyers protect their client’s best interests:
During The Home Inspection Process

Having your real estate attorney include a strong home inspection clause can improve your negotiation power. Buyers who fail to include a home inspection clause or agree to restrictive inspection terms can experience costly mistakes while purchasing a home. An attorney will help you prevent errors from occurring by providing a way out of the deal if an inspection uncovers unforeseen property damage.

Getting an inspection is incredibly important for homebuyers because it starts dialog for price negotiation if there are flaws with a property you would like to purchase. Additionally, real estate attorneys can use inspection clauses to exit a purchase contract without incurring expensive fines or penalties.

While Searching for Title Problems Due to Public Record Errors, Liens, and More
Several problems can arise during a title search. Having a real estate attorney review for liens, illegal deeds, encumbrances, easements, and more protects homebuyers from bad deals. This extra protection ensures you do not waste time or money trying to purchase a property with unresolved title issues.

Looking for an Experienced and Reliable Real Estate Attorney? Start Here
Unfortunately, not every real estate transaction goes to plan. Sometimes timeline stipulations or contract clauses trap buyers and sellers into making costly and irreversible decisions during real estate transactions.
If you are ready to buy or sell real estate, make sure that you have an experienced real estate lawyer that will work in your best interest. Start your new journey of buying or selling your home by calling the attorneys at Handelin Law at (775) 882-8032 or contacting us here.