Dec 29

Do I really need a real estate attorney when buying or selling a house?

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Buying or selling a house is one of the most expensive and complex transactions that one may indulge in. It is a huge undertaking, where every process or step we take needs extra care. Also to be considered, is that each state has its own individual requirements. All of these complexities can be sorted out in a consultation with an experienced real estate lawyer. A real estate attorney is advantageous as they are experts in their field and can save us a lot of time and money during the process. Once you begin to go through the transaction and understand the steps and procedures, you will be happy to have another experienced person helping you out. Below are some reasons to obtain a real estate attorney while buying or selling a house:

Speeding up the entire process:

Having access to new online data insolvency visualization software, attorneys can now keep all the legal documents and contracts required in property settlements in one place. Different parties can access, sign and complete the documents and once they are all completed, they can be submitted together on time for settlement. This reduces the settlement time dramatically. This can also track any missing or incomplete documents and the attorney can follow up with the appropriate people. This process can not only save time, but a lot of money as well.

They are experts:

Excitement and nervousness while buying or selling a house can tend to take over, causing us to miss critical terms. An attorney who is a specialist in residential real estate will review your purchase contract before you sign it. They will skilfully work with your mortgage loan officer, the other party’s attorney and agents to fix dates for attorney approval, home inspection, mortgage commitment, and other contingencies. These are very important factors, as many states have certain requirements and limitations on the timelines for such events. Any date or timeline missed could add extra fees or put you at risk of losing the deal.

They help protect your rights:

A real estate attorney can help protect your rights in the event that any problems arise during the deal. If there is any change in the contract or the property deal after contracts have been exchanged, or any information has been convaluted, an attorney can speed up the process and help protect your rights. For these reasons, it always is beneficial to have an attorney from the onset of the deal. A real estate lawyer is trained to deal with these problems and has the experience necessary to take care of them.

Legally binding contracts:

Most of us want to address and negotiate the terms of the property contract face to face with the other party which may later lead to confusion. Hiring an attorney can help you legalize and memorize the contracts in order for them to be legally binding. They will negotiate on your behalf and make sure that the contract adheres to all state laws and addresses any particular issues that might affect the future use of the property.

Addressing Liens:

Attorneys also perform a title search to make sure that the property being sold is free of any impediments, such as liens or judgments. This is important because it reveals whether the seller has the legal right to sell the property in question. An attorney will be able to provide this service much faster, and often with less cost because real estate attorneys have working relationships with title search companies.

Filings:

When filing real estate deeds, they need to be done at both the county and state level. An attorney will be able to do this quickly and efficiently. In many states, attorneys can change or void the legal language in a purchase contract under state laws.

Contact the law office of Reuven J. Epstein

The real estate attorneys of Reuven J. Epstein provide capable assistance in real estate transactions. We will ensure that your rights and interests are protected. We handle both commercial and residential real estate cases. Call us at 845-459-0002/ 800-579-1605 or email us at info@reuvenjepteinlaw.com / reuven@reuvenjepsteinlaw.com.

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