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Why You Need to Hire a Real Estate Lawyer

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Why You Need to Hire a Real Estate Lawyer

real estate lawyer

Many people only think of hiring a lawyer in response to something negative like a divorce, car accident, or personal injury. However, there are other situations, like buying or selling a home or investing in commercial real estate, when hiring a real estate lawyer can be beneficial.

Buying or selling a home can carry uncertainty because people may not know the caveats of the real estate transaction or may not know how to navigate unique situations. Commercial real estate transactions tend to be very large, expensive, and often require more legal knowledge than a traditional real estate agent can provide.

Enlisting the assistance of a real estate lawyer can help smooth the process and can help alleviate the stress and uncertainty accompanies a real estate transaction. Here are the top six reasons why you should hire a real estate lawyer.

#1. Contract Drafting and Review

If you aren’t familiar with legal and real estate terminology, the legal documents accompanying a real estate transaction are highly detailed and challenging to understand. When the contracts involved in your real estate transaction are drafted and reviewed by a real estate attorney that you’ve hired, you can be confident that your best interests are protected.

Some of the standard documents you may encounter include:

  • Disclosures
  • Home inspection reports
  • HOA documents
  • Appraisals
  • Sales contracts

While your lender or a real estate agent are able to assist with the initial deal, your real estate attorney can draft a contract specific to your transactions versus using the “fill in the blanks” contract templates that are typically used by agents.

#2. Negotiations

Due to having years of experience negotiating transactions in the real estate market, 

real estate attorneys are in a better position to secure a more favorable transaction.

#3. Protect Your Best Interest

Although many people decide to initially hire a real estate agent vs. a real estate attorney, a real estate lawyer’s interests vary from the interests of a real estate agent.

Real estate agents work on a commission. Since real estate agents do not get paid until the sale closes, you run the risk of being swayed into a transaction that may not be in your best interest. 

Real estate attorneys will take the time to work with you to ensure that the property you choose fits your desired needs. Attorneys will ensure that the property has been accurately represented will make sure you aren’t taken advantage of by the other parties during the process.

#4. Lien and Title Search

Before real estate changes hands, a search on the property and a search for any outstanding liens is conducted. A title search ensures that the seller has the legal right to sell the property; a lien search confirms that there are no other financial claims on it.

Your real estate attorney can perform these searches to ensure that you don’t run into any future disputes. For example, if there is an outstanding lien on the property or a problem with the title, the attorney can take the necessary steps to resolve the issue or negotiate a solution.

#5. Filing the Deed

Your real estate attorney is able to handle all of the paperwork involved in your real estate purchase. When real estate changes ownership, a new deed must be filed. Since a deed is a legal document, it’s essential to have someone knowledgeable about the law to handle this critical task.

#6. Closing

Closing a real estate deal can be complicated. Along with filing the deed, you could run into some last-minute problems with the deal. Your real estate attorney can help resolve any issues that may arise.

Your closing documents account for the financial transactions that took place during the sale. Some things you may see in closing documents include the following:

  • When the seller receives payment.
  • When the escrow account was funded.
  • How much earnest money was paid by the buyer, and when they paid it.

When an experienced real estate lawyer prepares these documents, you can rest easy knowing that everything meets legal requirements. 

Get Award-Winning Representation With Rokita Law

These are just some of the ways that hiring a real estate lawyer can benefit you. Real estate attorneys can also assist you with zoning and land use issues, resolve litigation, and assist you in the purchase of a foreclosed property. In addition, they will act as your advocate and can represent you when you are unavailable, ensuring that the wheels keep turning until the deal has closed.

Amanda Rokita is an Attorney and the founder of Rokita Law. Rokita Law is a boutique law firm focusing on solution-based resolutions for small businesses and individuals throughout California.

With a proven track record of representing small businesses, Amanda has earned several awards, including the 2022 SuperLawyers, awarded to the top 2.5% of lawyers in California, and the 2022 SuperLawyers Rising Star award, which is awarded to the top lawyers under 40.

If you’re ready for award-winning legal representation, contact us today to schedule a consultation.