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What is the role of a Real Estate lawyer in a property transaction and how can they assist me as a buyer/seller?

Picture of Chris Battis By   ·  1 minute read
As a Real Estate lawyer, their role in a property transaction is to assist both buyers and sellers in a variety of ways. Below are some examples of their services and how they can assist in the transaction:
  1. Drafting and Reviewing Contracts: Real Estate lawyers can draft and review contracts such as purchase agreements, lease agreements, and other documents related to the transaction. They can help buyers and sellers to ensure that the terms of the contract protect their interests.
  2. Title Search: Before entering into an agreement for the sale of a property, it is essential to conduct a title search to ensure that the seller has legal ownership of the property. A Real Estate lawyer can conduct a title search and provide a title opinion to the buyer.
  3. Closing the Transaction: A real estate lawyer can also assist in closing the transaction, which includes ensuring all legal and regulatory requirements are met, facilitating the exchange of purchase funds and transfer of ownership of the property, and recording the transaction with the appropriate government agencies.
  4. Resolving Disputes: Occasionally, disputes can arise during a property transaction. A Real Estate lawyer can assist in resolving disputes by providing negotiation, mediation, and, when necessary, litigation services to protect the client's rights.

Overall, a Real Estate lawyer plays a vital role in ensuring that the property transaction is legally sound and that the client's interests are protected. Real estate transactions can be complicated and have significant financial consequences; therefore, hiring an experienced Real Estate lawyer can help ensure that the transaction proceeds smoothly.

Limitations or Exceptions: It is important to note that the role of a Real Estate lawyer can vary depending on the jurisdiction and the specific terms of the agreement. Additionally, some services may be outside the scope of the Real Estate lawyer's expertise, and in such cases, they may recommend the client seek the advice of a specialist.

Suggestions for further action: When hiring a real estate lawyer, clients should ensure that they have experience in handling similar transactions and understand the local laws and regulations. Clients should also be prepared to provide all necessary information to the lawyer, including any relevant documentation and information about the property being transacted.