Real estate lawyers play an important role in protecting people’s investments in property. Whenever there’s a big purchase or sale of property, it’s wise to seek out the help of a professional lawyer who understands complex real estate contracts and is knowledgeable of local and federal laws that may affect the transaction.
Here are eight common reasons people need a real estate lawyer.
1. Advice on Property Rights
One of the most common reasons people hire a real estate lawyer is to get advice on their property rights. Before buying or selling a property, it’s important to understand who has certain rights to the land, including the current owners, future owners, and local and regional governments. A real estate lawyer can help clarify these rights and ensure all rights are respected.
2. Resolving Issues
Property disputes can happen for various reasons, from boundary and access disputes to who is responsible for maintenance or repair costs. A real estate lawyer can help resolve these types of issues by assisting in filing a legal complaint or defending against it, depending on the situation.
3. Drafting Contracts
Real estate transactions are complex and can involve a variety of contracts, from purchase agreements to mortgages. A real estate lawyer can help draft strong contracts that will be binding in court and protect any parties involved in the transaction.
4. Property Transfers
Transferring property from one party to another can be a tricky process. It’s important to use a real estate lawyer who is experienced in understanding and navigating the transfer process. The lawyer can ensure that all documents are properly handled, taxes and fees are paid, and the transfer aligns with local and state regulations.
5. Title Searches
A title search is a legal procedure determining who owns a specific property. Before a sale, a real estate lawyer often conducts a title search to ensure the property can be legally transferred and that the buyer or seller has a valid claim to the title.
When a homeowner fails to pay their mortgage, the bank or lender can begin foreclosure proceedings. A real estate lawyer can provide legal representation to either the lender or homeowner to ensure that the foreclosure is handled properly and in accordance with all laws.
7. Negotiating Leases
Leasing property is a complex process that comes with many legal considerations. A real estate lawyer can help with the negotiations by ensuring all necessary paperwork is handled and all parties understand their obligations.
8. Closing Assistance
Real estate lawyers often assist their clients when it comes time to close a deal. This includes double-checking the paperwork and ensuring everything is in order and the investor is protected in case of any issues.
Real estate law is constantly evolving and becoming more complicated, making it difficult for many people to understand their rights and obligations regarding a big property transaction. By working with a real estate lawyer, you can ensure that a large purchase or sale is legally sound and that all parties are protected.
Are you looking for the best real estate lawyer? The Steltzner Law Firm, LLC provides comprehensive transactional legal services in NC and SC, with decades of experience tailored to meet cost-effective needs. Contact us now!