When you are buying or selling a property, the person that you think that you need most is a real estate agent. After all, it is an agent that markets your home or helps you find your dream property. However, a realtor may lack the expertise and experience needed to efficiently guide you through the legal aspects of the actual transaction. Purchasing or selling a home involves complex contracts, large sums of money, and navigation through a network of local and state regulations. Even if you are dealing with a routine real estate transaction, a real estate attorney can be beneficial to help you avoid financial-related mistakes and to help protect your interests.
Review the Sales Contract
In any kind of real estate transaction, the single most important document is always the purchase agreement. This agreement outlines the obligations and rights of all parties involved and makes these terms of the agreement enforceable by law. However, there are many realtors that will utilize standard forms, meaning that the final terms that you agreed upon may not be accurately reflected in the agreement. An attorney can look over the documents for common provisions that aren't in your best interests, as well as any mistakes that may be present.
Research Zoning Laws
For businesses that are looking to change locations or investors, a real estate attorney can be invaluable. Prior to making an offer, a real estate attorney should closely examine the zoning laws that control the property you are interested in to make sure it is suitable for your potential use. In the event that you later discover that the city prohibits your planned activities in that location, there may be no recourse once you have finalized the sale.
Perform a Title Search
After the sale, if someone else pops up with interest in the property, there is a chance that you could be held financially responsible—and this is true even if you believed that the title to the property was free and clear. A real estate attorney has the resources available to perform a comprehensive search of survey information and public documents to make certain that there are no competing claims on the property's title—before you go through with the sale.
If you are interested in selling or buying a property, it is important that you work with a real estate agent AND a real estate attorney to ensure that you are protected from all angles. For more information, talk to a local real estate attorney today.Share