A Real Estate Attorney handles the legal side of real estate transactions, ensuring that a property is transferred legally from one party to another. Their duties include conducting due diligence, reviewing amendments, financials and board minutes as well as providing advice based on their findings. They also negotiate and draft documents and agreements and handle compliance and regulatory-related services.
It is important to find a qualified real estate attorney. You can search for an attorney online or ask family members and friends who have recently purchased a home. Oftentimes, these individuals will be able to recommend a great attorney. You can also check your local laws and regulations regarding real estate attorneys. Your state bar association may have a directory that lists real estate attorneys, as well. You can also use online review sites that rank attorneys based on experience, expertise and reviews from previous clients.
Hiring a real estate attorney can be expensive, especially when there are other fees associated with buying or selling a home. However, it is essential to have someone who can provide peace of mind and ensure that all of your rights are protected as you navigate what is likely to be the largest purchase of your lifetime.
Although some states do not require a real estate attorney at closing, it is always in your best interest to bring one on board. For example, if your home is subject to an easement or other restrictions that could impact your property rights, then you should have an attorney conduct a title opinion on the property before the closing date. In addition, a lawyer can help resolve disputes and negotiate on your behalf if issues arise during the transaction process.
A real estate attorney can also be beneficial if you are dealing with a complicated transaction, such as buying or selling a property in bankruptcy, a short sale, foreclosure auction or a co-op. They can also provide assistance with zoning laws, real estate development and investment property purchases. They can even assist with more mundane matters, such as drafting covenants for homeowners associations, amending leases and reviewing zoning ordinances to make sure they are in compliance.
It is vital to consult a qualified real estate attorney before you begin a new real estate transaction. While they may add to the overall cost of a transaction, it is often necessary to protect your interests in what will be a major investment. In the end, the expense of a real estate attorney can save you money in the long run by helping you avoid costly mistakes and navigate complex legal proceedings. For more information on how to hire a real estate attorney, contact us today. We are happy to answer any questions you have and help you get started with the home-buying or selling process. We have offices located throughout the country and can handle any legal needs you may have.
