Common Problems That Require a Real Estate Attorney2 min read
When it comes to purchasing and advertising a property for sale, you would encounter common problems that require a real estate attorney. These types of transaction involve titling, legal reports, insurance and disclosures. To top it off, real estate agents would convince you that they could help you avoid all of these if you agree with their recommendations and just leave everything to them. You should be reminded that these agents are not after your interests but they just wish to close the deal immediately to receive their commission.This kind of lawyer will be the one to fight for your interest and ensure things are done legally and rightfully.
One of the problems when buying or selling a property is disagreements on the contract between both the buyer and the seller. A qualified attorney could immediately discern if there something in the contract would be unfair on your part. He would analyze the terms and evaluate the risks in the transaction.
Another problem that is encountered in real estate transactions are the negotiations to follow. There are times that both the buyer and the seller could not make a compromise when it comes to the price, terms of payment, exclusions, closing date and future plans of the buyer regarding the property. A real estate lawyer would be able to negotiate a deal that would benefit his client and to which the seller would be amenable to.
Titling is one of the common problems that require a real estate lawyer. The property may have been owned by someone else before the seller thus there may be unresolved matters that hinder the placement of your name on the title. Such unresolved matters may be a current lien on the property. A specialized lawyer in this field would be able to know what to do with such a situation because of his knowledge on the legality of such matters.
During closing or even after, there may be times that someone, other than the buyer, declares that he or she owns the property. A real estate attorney shall be needed by the buyer during such a situation. He would be able to assess and get a title insurance policy which assures no other person can claim the property to be his or hers except for the buyer.
The concluding part of this type of deal is the closing. This is the time when the deal is finalized and all costs are paid. To protect the client’s interests, especially if the buyer wants to go against the deal or if he has a sudden change of plans, a real estate attorney should be present. These common problems require an attorney who specializes in this field.