A real estate attorney is a lawyer that specializes in all aspects of real estate law. The key component to understanding what a real estate attorney does is to understand what they do, how they do it and why they are so important.
What is real estate law?
This can also refer to property law and oversees the multiple forms of ownership and occupancy with regard to real property. It also includes the rights to purchase, utilize and transfer property to other proprietors. Considering the significance of property and its value, property law is a key area of practice. Bear in mind that property law can change depending on the state. It is important to find an attorney who is well versed in that specific state’s laws regarding real estate. However, there are federal laws which can have an impact on the estate and its value.
How can a real estate lawyer help you?
If you’re buying or selling real estate it’s good to know you have the law on your side. It can be a stressful experience and sometimes unforeseen complications can occur but having a professional at your side means that unnecessary complications, which could prolong your purchase/sale, can be avoided. Contract negotiations for property can be a tricky and confusing process. You never want to find yourself selling your property for below market value or purchasing a property that was misrepresented.
There are various benefits involved in hiring a professional attorney.
On one hand, you are protected as a buyer and shielded from costly losses due to purchasing a misrepresented property. Unfortunately, if you sign the contract you have shown intent to purchase and are now committed to making that purchase without any recourse available. Your attorney will ensure that there are no hidden clauses or fees attached and will ensure that you may have a way out of the purchase should you decide not to go through with it.
On the other hand, you are also protected as a seller. Liability can come in all shapes and sizes, especially if your contract is not airtight. An attorney will ensure that should the buyer reneg on the deal or not fulfill his or her financial obligations.
Finding the real estate attorney for you may be a difficult task. You will need to ensure that your attorney is knowledgeable, experienced and trustworthy. Purchasing or selling property is an investment, and not something you should take lightly. As it can have a positive or negative financial effect on your future and this is why it is so important to involve a real estate attorney in every step along the way.