Whether you are selling or buying a home, it is important to have a real estate lawyer as part of your team of experts. Besides helping you to find the right house or the right buyer, the legal expert will also help to ensure that you close the deal at a fair price.
Although the main duty of a real estate attorney is to see to it that the financial interests of their clients are protected, there are several other things that the experts do on a day to day basis. Here are some of those things:
The nature of real estate transactions is such that they involve a lot of documentation. A real estate lawyer has the responsibility to draft and prepare the relevant documents. Some of the important documents that the legal professionals prepare include deeds of conveyance, financial agreements, purchase contracts as well as leases and agreements for rentals. Although some states allow such functions to be performed only by real estate agents, a licensed lawyer can also draft and revise the documents.
A real estate attorney has the expertise and experience required to negotiate complex real estate terms on behalf of their client. The lawyer will work with other lawyers, developers, and brokers, negotiating a deal on behalf of the client. This will help the client to get a fair deal in the end.
3. Due diligence
There are instances where experienced clients will be keen on holding direct negotiations with the buyer or the seller’s agent. While they may not require a legal expert to negotiate on their behalf, the clients will need professional expertise to conduct due diligence for the deal. As such, the lawyer will be required to look into matters such as legal title issues, environmental issues as well as examine contracts and documents relevant to the said transaction. The experts are trained to detect and identify issues in these areas, thereby acting as guardians for their clients. This will eventually help clients to avoid any unseen legal traps.
In most cases, real estate transactions will proceed and end in a manner that is satisfactory to both parties. However, in cases where the transaction does not work this way, unresolved issues may end in a lawsuit.
When this happens, real estate lawyers will play an extremely important role. The experts will represent their clients in a court of law, ensure that the legal rights of their clients are protected and work towards getting their client to win the case against the opposing party.
Real estate attorneys have an in-depth understanding of mortgage and trust deed foreclosure. When economic times become tough, the lawyers will be expected to guide, offer advice and take their clients through the process of foreclosure. For instance, a lawyer representing a borrower must identify and bring out any mistakes made during the foreclosure process. This makes it harder for the lender to sell off the property.
With the transactional nature of their job, a real estate lawyer does much more than litigation. The wide range of activities that the professionals handle include buying, selling and renting land, houses, building as well as natural resources.
For the success of your real estate transaction, we can’t urge enough that you use a real estate attorney like the pros at Laughlin Law. We’ll leave a bit of info here so you can contact them if you wish to: