What Is A Real Estate Lawyer? How Can They Help You?
Written by: Remington Joseph
Whether it’s your first time or not, buying and selling real estate can be an overwhelming process. It takes time, planning, and money that the majority of people out there aren’t comfortable throwing away easily. We’re fortunate that we’re able to work with realtors, experts in the real estate industry who can guide us through this world full of unknowns and loopholes to get us to that moving day we’ve been dreaming about. When it comes to the nearly countless amount of laws regarding real estate however, there are times where even the most experienced realtor won’t be able to warn or protect you from what can be very serious trouble. This is where a key player, the real estate lawyer, steps in. To help you sort through the legal aspects of the real estate process, this specialized attorney will be able to help you when it comes to the regulations and sometimes lesser known procedures that govern the buying, selling, and ownership of property. Here are just a few ways that having a real estate lawyer in your corner can help you.
Reviewing The Paperwork
As with any major transaction, a good amount of paperwork is involved. Whether your goal is to buy or sell real estate, there’s going to be a lot of agreements and requests sent between both parties in the form of legally binding contracts. This paperwork won’t always be the most enjoyable read, and if you aren’t familiar with real estate law, it can sometimes prove very difficult to understand. As unfortunate as it is, agreement loopholes are often how people end up taken advantage of. As expected, a real estate lawyer is skilled at reviewing and negotiating contracts, ensuring that your rights and interests are protected. They can also help you understand the terms of the agreement and make sure that everything is in order before you sign. Always review with a real estate lawyer before signing anything.
Closing The Deal
You may not know this if you’re a first time buyer, but there are additional costs that come with closing in a real estate transaction for things such as the land transfer tax. A real estate lawyer plays a critical role in the closing process, keeping you informed of what must be paid, and helping to ensure that the transaction goes as smoothly as possible. This will keep you protected from a legal perspective as you finalize your real estate transaction.
Handling Disputes
No one wants it to happen, but things don’t always go according to plan. In the event that a dispute does come up between yourself and another party, the last thing you’ll want is to be caught off guard. Depending on the situation, a real estate dispute can cost thousands, sometimes even leading to harsher forms of punishment. Fortunately, real estate lawyers have experience in mediation, arbitration, and litigation and if necessary, they can represent you in court.
It can’t be argued that having a real estate lawyer on your side can provide peace of mind and help to ensure that your real estate transaction goes through without problems. In any situation, there’s great value in understanding your rights and responsibilities. A real estate lawyer will not only let you know what those are, but they will also fight to protect your interests every step of the way.