One of the greatest financial gambles a person could ever make in a lifetime is investing in a home. Despite all the laws and guidelines in transparency and full disclosure, there are still so many factors that could turn the entire endeavor into a nightmare somewhere along the way. That’s why it’s helpful to get a trusted real estate attorney on your side to protect your best interests during a transaction.
A real estate attorney is a lawyer who specialised in real estate law. They play an important role in the process of buying and selling property. It’s a good idea to hire a real estate attorney if you’re buying or selling a house because they can offer you peace of mind and ensure a legitimate sale. Below, we share the key responsibilities of a real estate attorney, how they help homeowners, and why hiring an attorney and working with our title and escrow agency will give you the ultimate peace of mind when buying a home.
What Is a Real Estate Attorney?
A real estate attorney is a lawyer who is licensed to practice real estate law. This means that they’re trained in all things relating to real estate transactions and can give advice to anyone who is participating in a real estate transaction. The advice given out by the real estate attorney primarily intends to prevent any legal wrongdoing in the process, which could lead to massive headaches, arguments, litigations, and settlements later on.
A real estate attorney is mostly present throughout the entire process, from making an offer to closing on your property. Many states in the US are very particular about the guidelines on the sale of property, and these guidelines extend to well beyond the actual date of purchase. For example, some properties are held by a family for generations, so there are guidelines and protocols for this type of scenario. A real estate attorney can help you understand all the existing conditions for the sale and ownership of your property.
What Does Real Estate Attorney Do?
A real estate lawyer can offer their services to someone who is looking to sell their private property in Florida or someone who is looking to purchase a piece of real estate. They provide legal advice, review documentation, and assist in the transaction process. Here’s how a real estate attorney’s services may help you.
The role of a real estate attorney is largely to represent your best interests at the closing of the deal. They represent mortgage lenders, reality services, homeowners, and prospective buyers. Real estate attorneys are fully aware of the existing laws governing the sale of an estate within their state, and it is their job to ensure that these laws and regulations are complied with by all parties involved.
If you’re not well-versed in these laws, you could become a victim of scams or deals with questionable legality. People should remember that buying real estate is not like buying a car which you could put on the market and have someone buy it in just a few days. Real estate purchases involve a large investment of money and the participation of third parties. With others involved and regarding your own money, it’s helpful to have a professional representing you during the deal.
Most people would think buying a house is as easy as looking for something you like and paying for it. While this might be true to a certain extent, there is also the matter of the required paperwork and legalities entailed in the purchase. A real estate attorney can oversee the process and assist the real estate professional involved in negotiating the next steps of the deals, such as crafting an inspection report for once the home is completed, obtaining a repair credit, requiring repairs, renegotiating the sale price, and other such concerns.
A real estate attorney can also prepare documentation, such as the bill of sale, to ensure you have detailed legal documentation of all the agreements made between you and a seller or buyer.
Some concerns are things that everyone involved could understand and discuss amicably. Other concerns are more technical and might only be understood and addressed by specifically trained people, such as engineers or lawyers. These complex concerns fall under the list of real estate attorney responsibilities, as they could involve matters which require careful legal considerations, such as:
- A lien exists on the property being considered. A lien refers to a legal claim against the property, such as real estate, that can be used as collateral to repay a debt.
- The deal is a joint sale. This means the seller is selling the property with someone other than the seller’s spouse, such as a sister or brother.
- The real estate being sold is an inherited property. This requires that the executor needs the express permission of the heir(s) to sell the property.
Galaxy Title & Escrow Can Help You with Real Estate Concerns
Any kind of investment should be beneficial to all parties involved. This is why at Galaxy Title & Escrow, we employ only the best and brightest in the field to ensure that your interests are nothing less than top priority. Our licensed real estate attorneys can prepare and review legal documentation for buying or selling your property.
Our team is happy to discuss legal requirements and regulations you may need to be aware of when buying or selling real estate. Talk to us now about finding and closing on your dream home!
Mitchell has been a licensed attorney since 2014 and has practiced in both the transactional and litigation fields of law. His experience allows him to approach every transaction with a depth of knowledge and practical experience most attorneys do not possess. Mitchell prides himself on providing top notch service to his clients.