Featured News 2013 Why Do I Need a Real Estate Attorney?

Why Do I Need a Real Estate Attorney?

When dealing with the buying and selling of real estate he question is often asked whether or not a person should hire an agent to help them along with the sales. What many people don't often consider; however, is the fact that having a real estate attorney on your side is also a wise decision to make, especially because these are considered legal transactions and likely involve a pretty penny. Hiring a real estate attorney may not appear to be an important part of your buying and selling journey, though you just may want to consider it.

Dealing with the process of buying and selling property is a legal endeavor and laws vary by state in regards to the little details and requirements for this process. In all honesty, this can be done without the help of a realtor because the majority of states don't require them to be involved in these transactions. Relators are trained in the areas of contracts and such, though because their background isn't specifically with law, they may not be as able as an attorney. In some states, in order to create a contract at all and essentially close the deal, you will need the assistant of an attorney either way.

Why then, should you hire a real estate attorney in order to help you through this process of buying and selling property? Hiring an attorney will allow you the legal assistance that is necessary in the event any legal concerns are brought up during the process of the transaction. While a real estate agent is beneficial in many circumstances, there is case s in which they are unable to give you the legal advice you may need. For example, say you are buying a property from a family and there is an illegal in-law living on the property that you intend to buy? If this is the case, you will need legal representation to help make sure these individuals are evicted from the premises and the remaining legal procedures taken care of.

Perhaps you are planning on buying a property and the sellers guarantee that there are no problems with the location, and yet once you get the inspection done you realize that there are extensive mold damages and other issues. Having an attorney on your side will be useful in the event they seek to cover up the issues or refuse to fix the property or adjust the price so that you can. As stated, there are certain times in which a lawyer may not be necessary for you during the buying or selling process; however, if you fall under any of the following categories you will want to contact one for the legal representation you deserve.

As a buyer, if you are from out of town coming into a new area (mainly from another state) having an attorney will be helpful as you may not be aware of certain laws in the new state. When buying a property that is from a short sale or a foreclosure or buying commercial property, you will always want an attorney who can thoroughly go through the legal documents involved and help draft new ones where necessary.

If you are a seller, if your home is any form of distress or has other concerns an attorney can help protect you by drafting the proper documents to prevent lawsuits, etc. down the road. In the event you are selling a home as an executor after the owner passed away, having an attorney on your side is helpful to make sure that all of the wishes and details of the property are accurately handled. The list of possibilities goes on, so in the event you are considering buying or selling; contact a real estate attorney in your area today!

Related News:

Is Getting a Timeshare a Bad Idea?

It depends entirely on your specific situation. A good place to start is to go over what owning a timeshare entails, before going forward to weigh the pros and cons of this venture. Before reaching ...
Read More »

Buying a Second Home the Right Way

Are you considering a second home? If so, then you are doing to want to carefully calculated this decision and work with professionals that you can trust. The first thing you need to do when you are ...
Read More »

What Happens If You Don’t Pay Your HOA Dues?

If your condo or home is a part of a homeowner's association (HOA,) you are required to pay dues and assessments when asked by the HOA. If you fail to pay these costs, the consequences are severe. ...
Read More »