- Why would I need a real estate attorney?
- Closing a real estate transaction is complicated with numerous legal documents that require your review and signature. You need a seasoned expert with an A to Z understanding of the law.
- If you live in a state that does not require a real estate attorney, you may still want to hire one. Here are some circumstances that may warrant hiring a real estate attorney:
-
Peace of mind - Buying property is a big investment. You may want the added support of a legal professional reviewing your documents and overseeing the transaction.
Mortgage issues - Real estate attorneys can review financial documents and provide advice about the risks and obligations of various mortgage types, including seller-financed mortgages.
Leases - If you are buying a property that is currently rented or leased, or if you plan to rent property, a real estate lawyer can help you comply with landlord/tenant laws.
Disclosure issues - Sellers are required to disclose anything that affects the value or desirability of a property. Real estate attorneys protect buyers by reviewing disclosures.
- They also defend buyers who subsequently discover an undisclosed issue with their newly-acquired property.
Construction - Real estate attorneys can assist buyers when construction deadlines have not been met.
Zoning and Permits - Real estate attorneys can help resolve disputes over zoning, land use and permits.
Taxes - Real estate attorneys can offer advice on minimizing tax issues.
- They can also assist with like-kind exchange documents and can file tax documents with the IRS.
Title issues - Real estate attorneys can help resolve title and land boundary disputes.
- They can also make recommendations about how the title should be held (i.e., husband and wife, living trust, corporation, partnership).
Condos - Real estate attorneys can review community bylaws and determine whether pending lawsuits against the homeowner’s association (HOA) exist and if they are likely to result in increased HOA dues.
-
[Back]