A real estate attorney can be a very valuable investment, regardless if you are the seller or the buyer. As experts in their field they will ensure that the whole transaction goes smoothly, while not overlooking any of the small but important details of the deal. Here are some good reasons for hiring a real estate attorney as well as a few words on what to expect from this kind of legal professional.
If You Are The Seller
When selling your property, the real estate attorney will assist you in preparing the purchase and sale agreement. If you so wish, he or she will also negotiate the sales terms on your behalf. After that the deed will be prepared and your lawyer should promptly deal with any issues, if there are any, as they arise.
Before you sign the final papers your attorney should also review them first. Finally, your lawyer can also oversee the matter of insurance certificates if they are needed as well as take care of the due security deposits.
If You Are The Buyer
Buying a home is one of the largest investments ever in most people's lives, so one of the benefits of having a real estate attorney by your side is that he or she will be able to walk you through the entire process. There are many things to consider when investing in real estate, such as checking that there are no liens, easements or covenants registered against the property.
Discovering this only after the deal has gone through would have been a very awkward surprise indeed. You could also hire an attorney who specialize in real estate tax, if the property owes taxes. But for the average purchase that will most often not be necessary.
There are many documents to take care of in the average real estate deal, and your attorney will see to it that they are all prepared and filed in good order. The mortgage is also something that your real estate attorney can assist with, working directly with the bank and making modifications as needed.
Your attorney will naturally also be present at the closing, making sure that all papers are in good order, that proper insurance is in place and that a valid registration of ownership exists.
In short, a competent real estate closing attorney will be worth their weight in gold, whenever problems arise – and many times they will also prevent issues from arising to begin with.