So you have finally decided to take the big step of buying a home or property. It is probably the biggest and most expensive investment, people ever make. But it’s not a simple process as there are many laws associated to real estate, with which most people aren’t acquainted. Just like hiring a real estate agent to deal with the sale aspect, you should consider hiring a real estate attorney to guide you through the legal process in the real estate industry.
Real Estate Lawyers: An Overview
Real estate attorneys are professionals who specialize in and use their legal knowledge and skills on property relates matters, which can vary from everyday transactions to disputes between parties. Although they are not required at each transaction but a homebuyer may benefit by hiring an experienced lawyer may help you avoid legal problems that can cause delay to your closing, and help save money in long run.
Key Takeaways
- Real estate attorneys are professionals who specialize in residential and commercial real estate
- A real estate lawyer prepares and reviews mortgage documents, purchase agreements, title documents and transfer documents.
- Some states require buyers to have a real estate lawyer present at the time of every transaction.
Real Estate Law
Real estate law oversees the purchase and sale of real property—that is, of land or anything attached to it like buildings or structures. It also includes anything that comes with a property such as fixtures or appliances. This type of law has nothing to do personal property or someone’s personal possessions, and only with real property. This branch of the legal system, ensures the proper procedures are put in place surrounding the acquisition of property, along with other factors like deeds, zoning, estate planning, property taxes and titles.
Responsibilities
Apart from preparing and reviewing documents relating to real estate, a real estate attorney can also handle closings—when an individual or entity purchases a piece of real property from someone else. In most cases, such attorneys provide legal guidance to individuals relating to sale or purchase of real property. They ensure the transfer is legally binding and in the best interest of their clients.
An attorney also works to fix real estate disputes such as chain of title, lot line problems, or other issues involving contracts. He/she may work for either side and provide legal representation for the parties in a courtroom setting. They even collect facts from both parties and try to resolve the matter that works for everyone involved.
With the above role and responsibilities, a real estate transaction is simply incomplete without a real estate attorney. At The Durkin Firm, we strive to make your real estate transaction, a simple and smooth journey.