The Advantage Of Hiring A Real Estate Lawyer

Buying or selling a real estate property involves a number of legal transactions that require you to at least have sufficient knowledge in real estate law. Without it, dealing with legal matters could just be difficult for you and this could bring some hurdles in your part. The good thing, however, is that you can hire a real estate lawyer to work on all your real estate legal transactions in your behalf.

If you have had real estate transaction in the past you would know how important the function a lawyer plays for the job is. But if you are just new in business, the following can help you understand how a lawyer can help you in handling real estate transactions - whether you are into buying or selling a property.

If you are buying a property, a lawyer should:

Help you fully understand the purchase contract, including the process of taking the property title - or in other words, the process of title acquisition.

- Also do the job of checking to see to it that there are no covenants, easements, liens, etc. registered against the property that could obstruct the use of such property.

- Process the registration and all the legal documents for the property.

- Help you understand the terms of the mortgage and work with your bank if there is a modification or adjustment required. He can scrutinize the adjustments, including taxes owing and other costs paid prior to transaction closing.

- Also work on reviewing all the papers you will be required to sign.

- Work for your property insurance so that you will get protected from losses that could be due to title defects.

- See to it that you get a valid registered ownership subject only to the liabilities you have agreed.

In case you are selling a property, a lawyer who is expert in real estate law should:

- Review and explain to you the binder aka 'offer to purchase' - a preliminary payment secured by cash payment between a buyer and seller as an offer to purchase a property. In addition, he can also review or prepare the buy-sell agreement, including its terms negotiation.

- Also arrange for insurance certificates if necessary.

- Prepare the deed and power of attorney when required.

- Help you in addressing title issues that may arise and correct them accordingly.

- Also work or arrange for transfer of security deposits or the deposit of money to the landlord to ensure that the rent is paid and other responsibilities of the lease performed such as paying for damage caused by the tenant.

- Represent you in the closing and review all the documents you will need to sign.

A lawyer who is an expert in real estate law can help settle the legal burdens you need to face in any real estate transactions.

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