The purchase and sale process can become extremely complex, especially when there are multiple parties involved. Too often, important details are missed and costly mistakes are made that render transactions dead and spark potential lawsuits. That’s why a real estate lawyer is often included as part of the process. Here are 5 situations that require a real estate lawyer that you should know about.
Your real estate agent will help you navigate through the process, but they don’t have the training to identify unlawful activity or oversee legal matters. That’s why a real estate lawyer is required when collecting and dispersing funds and transferring the property. But you should also consider hiring a lawyer to review the Agreement of Purchase and Sale and the title documents to ensure that all the details are accurate and in your best interest.
Getting a Mortgage
You’ll also need the assistance of a real estate lawyer when arranging a mortgage to determine how the home will be titled, and to direct the funds from the lender to the borrower. A real estate lawyer will make sure that all the relevant mortgage documents are signed and that the money arrives on time.
When you decide to put your home up for sale, you’ll need to call a real estate lawyer. The lawyer will draft the documents, negotiate the terms, and add in any necessary conditions that represent your best interests. They’ll also make sure that all the appropriate laws are followed and any issues are quickly remedied as they arise. Most importantly, they’ll arrange the statement of adjustments, then discharge the mortgage as well as any other liens on title.
If you’re facing contractual or title issues, land use, access, zoning, boundary or ownership issues, a lawyer can help. Any disputes you face regarding the surrounding property and ownership can be handled by a legal representative. Attorneys can also be called in to provide skilled advice and litigation if there are unsettled construction liens or insurance disputes.
Leasing Agreements and Disputes
An attorney can assist with any landlord and tenant situations. Whether it’s a dispute over a commercial lease or residential lease agreement, or you need assistance drafting a complex lease agreement that is officially binding, a real estate lawyer can help protect your legal rights.
To ensure you’re protected throughout the entire process, you should consider hiring a real estate lawyer early in the process. Contact us at Accord Law today to find out more about our services.