A real estate attorney is a legal professional who specializes in real estate transactions. They can help you with all aspects of real estate law, including buying and selling property. If you’re looking to make a real estate transaction and need this professional’s assistance, it’s important to understand their roles first. Read on to learn more.
They draft legal documents
This includes the real property purchase agreement, which has legal terms and conditions that both parties must follow when buying real property. In this document, you’ll find specific details about your transaction, such as the purchase price of real estate, how much money will go into closing costs and down payment, any real estate taxes that need paying, the date of closing and more.
They negotiate real estate contracts
Once all the legal documents are ready, real estate attorneys then help their clients with negotiations. They can represent you in real property transactions by using your interests as leverage to get a good deal. This is especially important if there’s a lot of competition when buying real estate. The more buyers there are bidding on what you want to buy, the more a real estate attorney can help you by negotiating on your behalf.
They also negotiate real property leases for their clients. This is helpful when it comes to renewing a contract or terminating one early if necessary.
They handle real estate disputes
Real estate disputes often arise between clients and real estate agents, brokers and agents or with other realtors, and most of these people turn to real estate attorneys for help. Some of these disputes revolve around real estate transactions, such as real estate contracts and real estate leases. Other disputes involve realtors’ negligence or misconduct during a real estate transaction. In most real estate disputes, the real estate attorney will be able to advise their client on what kinds of actions they can take.
These are just some of the real estate attorney’s functions. A real estate attorney is often able to handle these and other roles in real estate transactions because of their real estate law knowledge.