In several real estate transactions, especially in it comes to the sale of a house, you can find a lawyer taking an important role. Though they aren’t necessarily needed in real estate transactions, lawyers make all the legal aspects of these transactions much simpler and their usefulness cannot be overlooked.
Purchasing a house means you are entering a legally binding agreement with the seller. The contract is a crucial part of this process and its contents will directly affect your rights and determine your legal obligations. This is where real estate lawyers shine the brightest as they break things down for you and explain your rights and obligations under the contract. The potential to save time and money here can determine how the next several years of your life will pan out as well as ensuring you avoid any sort of legal problem down the line.
How big a role your lawyer plays in these transactions depends entirely on you. It is as broad as you prefer it to be. In most real estate transactions though, the lawyer reviews and prepares your agreement with the property agent, the purchase agreement, and the closing documents making sure everything is in order while keeping your best interests in mind.
Other roles of a real estate lawyer also include reviewing the abstract of the title, all insurance information, and background checks to ensure the property title is clean and can be transferred with no legal issue such as liens, covenants, easements, etc. Lawyers will take care of all legal documents and registrations.
A real estate lawyer will also keep a close eye on the entire process making sure all the respective parties do their due diligence to make sure you get the proper title. Real estate transactions hinge on the necessary documents being executed and delivered and the sale proceeds being completely paid all in time for closing. Should there be any problems your lawyer will tell you about your rights in your current situation as well as all the viable solutions and options at your disposal.
Having a lawyer on your side is the best way to ensure you stay protected and that you have somebody who keeps your interests in mind. Any legal problems that come about is resolved and remedied by your lawyer to ensure you don’t deal with any legal trouble.
Given the complexity of real estate law, only a properly trained and experienced real estate lawyer can give you a proper analysis of your legal position depending on your state and let you know of the anticipated results of any litigation expenses that can come after the transaction.
Real estate transactions are under the territory of a large body of federal, provincial, and local laws. Your lawyer will make sure the transaction follows all the rules within all applicable laws. So while it isn’t required you get a lawyer when entering a real estate transaction, it is absolutely recommended you get one if you want a clean, problem free transaction.
Robert Aronov & Associates, PC 88-02 136th St, Jamaica, NY 11418 (718) 206-1555 http://www.realestatelawyernys.com