Why Do I Need A Real Estate Attorney?
A real estate attorney is an attorney that helps buyers, sellers, and landlords draft and review legal documents regarding real estate. The real estate market is ever changing and having a qualified real estate attorney on your side can be a very valuable asset to have. Here are some reasons why it is beneficial to have a real estate attorney.
Legal Matters Can Be Difficult to Understand
There are numerous documents associated with a real estate transaction. It can be hard to review and understand all of them. Missing even one clause can change an entire legal document so it is important to have a trained legal professional aid in the process so that everything is done legally and in the best interest of all of the parties involved.
Real Estate Sellers Can Benefit From a Real Estate Attorney
An individual that is selling a home or piece of property needs to review a lot of legal documents before the final purchase is signed off on. The seller needs to review the offers that they receive from buyers so that they can make a decision that is favorable to them. Many sellers have been taken advantage of in real estate transactions because they did not have a lawyer review their legal documents before they signed them.
A real estate attorney will help a seller by doing the following:
• Identify and correct any problems with the title that occur.
• Review the offers given, purchase agreement, and write up the bill of sale.
• Deal with security deposits.
• Come to the final closing and review all of the documents that the seller will be signing to make sure that they are accurate.
Home Buyers Can Benefit from a Real Estate Attorney
A home buyer can really benefit from having a real estate attorney assist them in the home buying process. The attorney can do the following things for their clients:
• Prepare legal documents and have them filed and notarized.
• Review the purchase contract.
• Research title insurance and help the home buyer get a good policy for their new home.
• Research the home for any issues such as tax liens that need to be resolved.
• Review all documents at the closing of the purchase before the home buyer signs them.
For most people, a real estate purchase is the biggest financial purchase that they will ever make. This means that it is crucial for the transaction to be legal so that everyone involved in the transaction is satisfied with the process and the final outcome.