Real estate requires a lot of meticulous planning. You need to search around for the perfect locality, the perfect property, and the best deal while buying. And you do need a real estate attorney to smooth out the legalities of the purchase, at times even more than the real estate agent.
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What is a real estate attorney?
They are trained professionals specializing in matters related to the property including everyday transactions to the disputes. They apply their legal skills for the preparation and review of documents for purchase agreements, mortgage documents, transfer and title documents. The real estate attorney can also handle the closings of a property. Find your real estate expert at Friscia Law today.
What do they do?
Legal guidance; that is what you get when you invest in a real estate attorney! The expert ensures that the transfer is legal and binding all the while keeping your best interests at heart.
Generally speaking, your real estate attorney and his/her team of experts will be preparing all the documents for the closing, purchase, title insurance policies, the title searches and the transfer of funds for the sale/purchase of the property.
There are other legal documents to take care of as well including the HUD-1 form and associated transfer of funds documents for a purchase being financed by a third party. All round cover is what you get by investing in a professional real estate attorney.
In case of a dispute
There might be cases of real estate disputes as well, and these include a chain of title and lot line problems. The legal expert can resolve these. In a courtroom, a real estate attorney can mitigate the issue faster and negotiate a resolution that works for both sides of the aisle.
Why should you hire the attorney?
If truth be told, real estate attorneys are not required by the law when you are purchasing a home. The process and the documents are standardized, and thus you can deal with it on your own. But there can still be unwelcome surprises down the line.
In case of a serious legal problem with respect to the purchase of a new home only a licensed attorney can resolve the case. He/she will have the legal know-how and the expertise to represent you in the court of law.
In case of liens and other real estate matters fraught with legal hassles like eviction or a transfer of property only an experienced real estate lawyer can perform the investigation and analysis of facts to guide you on how to proceed.
About the legal review and confidentiality
The attorneys earn their worth in salt while reviewing contracts. When you are buying a property without an agent, a contract should be present to review the document and contract to make sure of all the terms and conditions to ensure you are favorably treated.
The attorney-client privilege is a binding rule of confidentiality, and your legal expert will not divulge details about your purchase if you don’t want them to be public.
A real estate attorney is not a necessity but is still a great idea to invest in before buying a new property. We hope this article helps you in making a decision regarding your attorney.