Why You Need a Real Estate Attorney When Closing a Real Estate Transaction

If you are buying or selling a home, it is helpful to have a real estate attorney by your side. An attorney works closely with a realtor and their legal department. This helps to ensure the transaction is performed appropriately and fully. They also work as an intermediary between sellers and buyers.

If you are purchasing a home, you may work with a Realtor. However, if you are planning to flip the property, you need a real estate attorney. A real estate attorney works on your behalf throughout the transaction. They will review all legal documents before handing them over to you, and will advise you on any errors or omissions in the documentation. Many attorneys charge an hourly rate for legal services, while others charge a flat fee.

When you purchase a house, you may not be thinking about real estate taxes. However, these taxes are an expense that must be paid, and you will need an attorney to help you work out the transaction. This includes taxes on the down payment, closing costs, insurance, homeowner’s association fees, and other miscellaneous fees that are related to the property.

Another thing you may not think of is property taxes. Many states require you to pay these taxes when selling or buying a house. The problem is that not all counties have the same rules and regulations regarding who pays what, when, and how. A real estate attorney is your best option at closing the transaction and ensuring that you get the full amount due to you.

Many people do not realize that they need a real estate attorney to sign documents. For instance, when a bank prepares your closing statement, it needs your signature. If you do not sign this document, the bank cannot go forward with the transaction. Likewise, when a mortgage company forecloses on a house, it must have this signed before they take possession of the property. Without this signature, they cannot take the house away from you. It is critical for you to have your personal attorney sign these documents so there are no misunderstandings later.

These are just some of the reasons why you should consider hiring a real estate attorney to help close your real estate transaction. They can provide you with important legal advice. This legal advice can protect your interest and the interest of your buyers. It can also protect your lender’s interest. If you want to know more, contact a local attorney that specializes in real estate law today.

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