In most instances, people are not required to hire a Real Estate Lawyer before completing a real estate transaction. However, these lawyers can do a variety of things to simplify the home buying process while protecting the client’s rights. Read on to learn the advantages of having legal representation from The Law Offices of Elan Wurtzel when buying or selling real property.
General Rules
The ownership of property is typically determined by state law. Most jurisdictions do not mandate that homeowners hire a real estate agent or attorney, but some areas require a lawyer’s help in the preparation of home purchase documents. Moreover, only an attorney can do a title search or complete a closing.
Benefits of Hiring a Real Estate Attorney
A home is the most costly purchase most people will ever make. Most stay in their homes for years after the purchase, making any decision a significant one. Property law includes numerous legal issues that do not exist in other areas of law, and a real estate attorney can focus on transactions with more experience than a buyer can.
Real Estate Attorney Tasks
A real estate attorney can help with a variety of purchase related jobs, as shown below.
* Offers: A lawyer can help clients submit written offers, and they can discuss options and contingencies.
* Negotiations: Most people aren’t accustomed to complex negotiations. An attorney can assist with counter-offers, and they can facilitate communication between brokers and buyers.
* Purchase agreements: The purchase agreement is the most important paperwork a real estate attorney may ever write. The agreement is a binding contract that details buyers’ and sellers’ responsibilities. While many agents use a standardized form, an attorney can customize a contract to meet the buyer’s needs.
* Title searches: A real estate attorney can do a title search to ensure there are no liens on the home’s title.
Attorneys Can Handle Complex Legal Issues
Buyers and sellers can encounter legal issues at any time during the purchase process. For instance, a lien could be discovered, or the existing tenants could ignore an eviction notice. Unknown issues could come to light, or there could be tax implications. No matter the issue, a Real Estate Lawyer can help the client through the process while protecting their interests.
