There are some states in which you cannot sell or buy a property without having a licensed real estate lawyer present. However, if you do not live in one of these states you will surely think about whether or not this is a necessity since it is not forced by law. The truth is that when there is an attorney present, you gain many different advantages. According to Noll Law Offices car accident attorneys Springfield, the biggest advantage is really simple to understand: he helps clients to avoid breaking the law.
The Real Estate Attorney
The real estate attorney’s job is to know regulations and rules related to all possible real estate transactions. These specialists help the clients to understand all associated legal documents. The attorneys deal with mortgage fraud, zoning issues, can negotiate and oversee title transfers while also being allowed to verify if residential or commercial property has an attached lien.
When Is The Real Estate Attorney Needed?
It is always a really good idea to work with a real estate lawyer when faced with difficult circumstances, like short sales or foreclosures. You will also want to work with the attorney if you buy a bank-owned property. The title company and the lender might actually force you to work with a real estate lawyer to confirm that the property’s title has nothing wrong. In addition, the attorney is really helpful if you decide to sell or buy commercial property because rules connected with tenant relationships or tax filing status is always complex.
Another situation in which you need to work with such an attorney is that in which you went through bankruptcy or there was a judgment that was filed against you. The attorney is going to be a great asset to a team that often deals with real estate, especially in areas that are difficult to appraise, like where natural disasters are common.
There are cases in which you do not need to work with a real estate attorney as you sell or buy a home. However, this is never a bad idea. While in many situations you just need the services of a real estate agent, if there is something that is complex, the lawyer can offer the extra help that you surely need.
Some Last Things To Remember
If the state does not mandate it, you can sell or buy a house without an official legal representation. However, if you do not meet the attorney you can end up being susceptible to different potential lawsuits and pitfalls. Discuss concerns with the broker and the real estate agent in order to decide if you actually need to work with an attorney.
If you decide that you want to hire a real estate attorney, it is vital that you work with one that has as much experience as possible with the type of work that you need from him. For instance, if you want to sell a commercial property, the best attorney is the one that helped clients to sell such properties for a long time.