When you are buying or selling real estate, it is a good idea to hire a qualified attorney. This is especially true if you plan to finance the transaction through a mortgage. Real estate attorneys are trained in the laws of property transfer, deeds, easements and zoning. They are also experienced in negotiating and drafting complex contracts. In addition, they can assist with issues such as title disputes, home sale contingencies, and loan commitments and closing procedures.
Many states require the involvement of a real estate lawyer in real estate transactions, particularly at closing. In these situations, the attorney must be licensed in real estate law and on the approved list of attorneys for several large lending institutions. In other cases, the law may simply suggest that an attorney be present at closing. In either situation, a real estate attorney will typically prepare documents and handle transfers of funds for both the buyer and the seller. In addition, the attorney will complete a thorough title search and provide a title insurance policy on behalf of the buyer.
A real estate attorney can be an invaluable resource for a prospective or current homeowner. They can review a contract to ensure that the legal terms and conditions are clear and understandable. They can also negotiate favorable contract provisions, such as deposit requirements, home inspection contingencies, and seller concessions. Additionally, an attorney can help protect a client’s rights by identifying potential problems and preventing them from being bound to unfair contract terms.
Finding a real estate attorney who is skilled and experienced can be challenging. The best way to find one is by asking for a referral from your real estate agent. Many agents work closely with real estate attorneys and will be happy to recommend a trusted colleague. You can also use online resources to review attorneys and their client satisfaction ratings.
If you are considering purchasing a new property, contact Sishodia PLLC to speak with an experienced New York real estate lawyer. We can review your property and explain your roles and responsibilities in the transaction. In addition, we can help you avoid costly mistakes that may arise from the confusion of unfamiliar real estate law. Contact us today to get started.
