In terms of legal requirements, it is not necessary to hire a real estate attorney when purchasing or selling property. A legal agreement can be drawn up directly with the other party without involving a real estate agent.
However, having a real estate attorney on your side can provide many benefits, including protecting you from legal problems.
In this article, skilled real estate attorney David Fleischmann Esq, president of his own law firm, David Fleischmann & Associates, LLC, will share the benefits of hiring a real estate attorney when selling land and property.
Can Assist You With Real Estate Contracts
Real estate contracts are required when you buy or sell real estate. These contracts are often drawn up by real estate agents. Every time an agent works with a client, they often use standardized forms that comply with state laws.
“Even though generic real estate contracts contain the necessary language, if your real estate transaction involves something out of the ordinary that the contract does not cover, such as a seller agreeing to perform certain repairs, you may run into problems,” says David Fleischmann Esq, who has assisted clients for more than two decades in creating and signing real estate contracts.
Have the Expertise to Prepare a Legally Valid Document, Tailored to Your Needs
You can ask your real estate agent to make amendments to a standardized real estate contract, which many agents frequently do to accommodate the needs of certain clients. However, real estate laws vary from state to state and most real estate agents are not practicing lawyers. While real estate agents have a broad knowledge of real estate transactions, an opinion based on prior real estate experience and state law are two entirely different things. A real estate attorney can prepare a legally valid document, tailored to your needs, that complies with state law.
Can Help You With The Closing Process
In most cases, the lender will need a few weeks to appraise the property and complete the loan underwriting process after you sign a contract. Signing the sale documents happens at the loan closing.
David Fleischmann Esq indicates that it is not uncommon for problems to arise between the contract date and the closing date regarding the title or the condition of the property.
Sometimes, unknowing buyers are given a quitclaim deed rather than a warranty deed at closing. A warranty deed and a quit claim deed both transfer ownership, but a warranty deed shows that no liens exist on the property. Neither a real estate agent nor a buyer would notice such a detail, but a real estate lawyer would.
Other Considerations
It is possible to run into legal issues after you have completed a real estate transaction. In some states, you may be able to sue your real estate agent, the seller or even the home inspector. Any litigation is much easier to complete if a real estate attorney facilitates the sale. Even though many real estate transactions proceed smoothly without an attorney’s help, people involved in sales that have gone awry, often wish they had hired one.
David Fleischmann Esq has assisted developers and investors in selling land and constructing new structures for more than twenty years. This real estate attorney is particularly interested in land use and zoning laws and procedures. You can contact David Fleischmann Esq to assist you in your next real estate sale.