Advantages of Hiring a Real Estate Lawyer
It can be long and tiring process to get through buying and selling any kind of property regardless if it’s a commercial establishment or a residential property. Mistakes in such transactions can lead to serious financial loss to the part of buyer and seller. Having said that, to be able to avoid these issues and to protect yourself from making mistakes, it is best that you get the help of a professional.
Qualified and seasoned real estate lawyer can help you better understand the details of real estate transaction and can help in protecting you from possible cases of financial loss.
Real estate lawyers are knowledgeable and experienced in this procedure and can provide the right advice before you and your agent prepare the agreement of sale and purchase. What your attorney is going to do is advise you on what is the best course of action to take in minimizing misunderstandings or conflicts and protect your best interests. Not taking their help and you are opening yourself to making unwanted mistakes to which can possibly lead to significant waste of money or to make things worse, deal with a lawsuit.
With a thorough and qualified real estate lawyer, they are going to communicate and work with the agent and lawyer of seller/buyer to make sure that the whole transaction will get prompt closing and keep you apprised issues that may come up during the process. Quite frankly, there are so many ways that you can benefit from the service of your real estate attorney.
It is them who will be reviewing the agreement of sale and purchase, check for errors that might risk your interest and so on. It’s best that you have a lawyer to review the agreement prior to signing it. It is the job of the lawyer as well to check for other documents that might affect the title and if you’re purchasing, they will complete title search of property to make sure that you’re getting the property with a clean title. Now if you will be financing your purchase, your attorney will work together with the financial institution and then, coordinate funding as well as register the mortgage on title.
Your real estate lawyer will establish communication with your real estate agent to ensure that condition similar to home inspection and financing are met by the dates required. Items similar to land, property taxes, transfer taxes and other related fees will be addressed with you. With the help of your lawyer, you are avoiding countless of mistakes that are frequently overlooked that can negatively affect the whole transaction.