Shelter is one of the necessities of life, so there will always be home buyers and sellers. This means that assistance from a real estate attorney will always be in high demand. There are many ways that these qualified professionals use their skill and expertise to assist with residential property transactions. Here are some of the valuable services that they provide:
1. Reviewing Contracts
No one should ever sign any legally binding contract before a lawyer reviews it. This is especially important in matters of property sales. Many buyers and sellers automatically assume that a document is accurate if it is printed on a realtor’s standard form; however, mistakes can always happen.
2. Acting as Advisers
A real estate attorney will ensure that both the buyer and seller clients are afforded smooth transactions. They can complete and file the appropriate paperwork needed in a professional manner. They also know the closing procedure intimately and can streamline the process so it is taken care of in a timely fashion on your behalf.
3. Reviewing and Clearing Title
A real estate attorney is astute at monitoring title issues. He or she will ensure prior mortgages are released and correct deeds get approval from the probate court, as well as deal with powers of attorney and obtain satisfactions of all liens against the property. Any issue, no matter how minor it may seem, can become a legal obstacle down the road.
4. Monitoring Important Contract Dates
Experienced property lawyers carefully make note of important dates for each file. Inspections, financing, and buyer deposit dates can make or break a deal before the actual closing. These professionals need to keep track of dates to fill out forms accurately and to ensure that neither party will lose money. These calculations are crucial to the legality of the contract.
5. Providing Information
Many property lawyers are more than happy to answer questions about the buying and selling process, and they have the knowledge to assist you in making important decisions throughout the ordeal. This is much better than flying blind into a situation where property and large sums of money are involved.
6. Verifying the Deed
Though you may not be thinking about the day you sell your property on the day that you purchase it, a competent real estate attorney will always check to see if the property has been deeded correctly so it is viable to sell in the future. The lawyer will prepare your property description and warranty deed to ensure that there will be no issues if you should ever decide to sell.
The insight that a lawyer may bring to your transaction is well worth the flat fee that most charge. After all, a good property lawyer serves as a second set of eyes at worst, and an expert in your corner at best.