As long as real estate transactions proceed smoothly according to plan and do not give any hassles, some may wonder why this is so important and whether it is must to consider an aid from real estate lawyer. If there is any small mistake or omission (misspelled property owner's name, wrong title, dates, incorrect digits, spelling mistakes in terms or etc) occurs during the real estate transaction may lead to huge financial loses, sues or delays on transactions for months etc. Here the role of real estate lawyer comes into play. Real estate lawyers review documents with caution to assure that there are no such mistakes or legal errors.
Working and Negotiating with Realtors
Real estate lawyer can work with your realtor and participate in the negotiations with realtor of other party (the buyer/seller). One of the most important document used in real estate transaction is the agreement of purchase and sale. The real estate lawyer and your realtor together can prepare the agreement and the lawyer can confirm that the agreement is error free, there are no risks involved and the agreement strictly follows the laws and regulations of the state/nation. Another task that both real estate lawyer and realtor can conduct is the title search on subject property. For buyers title search is must to make sure there are no liens or mortgage on the property. For sellers it is essential to provide clear title for the buyer and proceed the transactions smoothly with good profit on sale.
Analyzing Agreements, Terms & Conditions
When preparing to sign the agreement with other party's relator, your real estate lawyer should analyze and give approval to sign the agreement provided by other party (buyer or seller). If the agreement is poorly analyzed and the terms are omitted or misunderstood, that may put you in trouble in the future, as there may be possibilities to have unfavorable terms on the agreement. Such practice is not advisable because there is great risk of or otherwise huge exposure of getting sued or facing dilemmas.
Well trained, experienced, professional and reputed real estate lawyer can help to have smooth real estate transactions along with peace of mind.
Source URL : http://lawblog.jimdo.com/2014/03/13/why-you-need-real-estate-lawyer-for-the-real-estate-transaction/