The Importance of Hiring a Real Estate Lawyer: Protecting Your Investment

 In Real Estate Law

Do I need to hire a real estate attorney to represent my interests in my real estate transaction?
Yes. Having a real estate attorney by your side is crucial when buying or selling a house. A real estate attorney ensures everything goes smoothly, especially in the current market with high prices and low inventory. The most significant part of the process is reviewing and negotiating the Purchase and Sale Agreement (P&S). This includes aspects such as repairs, deadlines, and obligations. That is one of many legal documents involved when dealing with the purchase or sale of a property. A real estate attorney can review all legal documents on your behalf to ensure they accurately reflect your interests.

What is another advantage of hiring a real estate attorney?
When purchasing a property, it is critical to have a real estate attorney who can conduct a title search to ensure you get the marketable title. You want to ensure the seller has the legal right to sell the property. You also do not want to purchase a property only to find out later that there was a lien or encumbrance that may affect your ownership interest. They can provide you with an understanding of the risks associated with the property, which can help you make an informed decision about whether or not to proceed with the purchase. Additionally, not all properties are the same. For example, if you’re buying a condo, things can get more complicated. There are additional things to research, such as the financial health of the condominium association, any special assessments, and any ongoing lawsuits. A real estate attorney can help you navigate all these issues and protect you.

Do I still need a real estate attorney if I have a real estate agent?
Understanding the critical differences between a real estate agent and a real estate attorney is essential. While both are valuable resources during a real estate transaction, their roles and responsibilities are distinct. Real estate agents work to assist buyers and sellers in the buying and selling process, guiding pricing, marketing, and negotiation. In contrast, a real estate attorney provides legal protection and represents your interests. While a real estate agent can help you find and purchase a property, having a real estate attorney on your team is always a good idea to provide legal assistance and ensure a smooth transaction.

We would love to hear from you if you need our services! Call us at the Law Offices of Lipsey & Clifford, 1-(800) 466-3130. We’re always here to chat about your real estate needs and help answer any questions. We look forward to hearing from you soon!

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