With all of the expenses involved in buying real estate, many people wonder if it’s worth the additional cost of hiring a lawyer to help with the sale. However, a real estate attorney can help you with a number of different aspects of your transaction, including protecting you from legal and financial risk. Here are five ways a lawyer can protect you during your real estate transaction:
- They can help you draft and review a real estate contract
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- One of the most important ways that a lawyer can help with a real estate transaction is that they can help you draft a contract of sale. If you are not the one who drafted the contract, they can review it to ensure your rights and interests are protected. That way, you can protect your rights and interests from unforeseen legal issues.
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- They can negotiate on your behalf
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- Your lawyer can also negotiate with the other side of the deal on your behalf. This can be important if there are any disputed terms, or if you want to revise the contract for any reason. Without a lawyer, you will need to handle those negotiations yourself, with all the risk that entails.
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- They can help you deal with contingencies
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- In just about any real estate transaction, you will likely need to fulfill certain contingencies as part of your end of the bargain. This may include things like performing inspections if you are the seller, or needing to get pre-approval on a mortgage as the buyer. Whatever the case, a lawyer can help you ensure you are compliant and that the deal can go forward.
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- They can conduct a title search on the property
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- A lawyer can also help you perform a title search on the property to ensure there are no issues with the property’s title. This is important because, under normal circumstances, a real estate transaction cannot move forward if a property lacks clear title. By performing a title search, they can identify these issues and give you an opportunity to correct them.
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- They can address potential issues at closing
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- A real estate closing is when the deal is finalized and ownership of the property is formally transferred from the seller to the buyer. Of course, even at this late stage, there is still a chance that some issue can arise with the real estate transaction. If it does, having a lawyer present can help you smooth out any problems, and avoid legal issues later.
For more than 50 years, the New York lawyers at Elovich and Adell have represented clients like you in real estate cases. Our attorneys, conveniently located in Long Beach, handle personal injury, real estate, commercial transactions, criminal defense, and labor and employment claims all across New York State. For a consultation, please call us at 516-432-6263 or visit our contact page for more information.
