Buying or selling a real estate property is a major financial undertaking for any person. Generally, most people use the services of local real estate agents to find and purchase a suitable home or office. These real estate agents charge a commission for their services. But the services they provide lack comprehensive legal coverage. In contrast, a real estate lawyer provides greater protection for your investment. According to several real estate lawyers, most people do not realize the value of the role real estate lawyers play in the sale or purchase of real estate properties.
The Role of a Real Estate Lawyer in Purchasing a Real Estate Property?
A real estate lawyer plays quite a significant role in the process of purchasing a real estate property. From verifying lease documents to checking any mortgages against the respective property, a real estate lawyer performs a wide range of duties to safeguard your interests. As there is a significant amount of money involved in such transactions, a real estate lawyer can provide you with the safest and most credible ways to pay the seller of the property. Furthermore, purchasing a real estate property involves formation of certain legal documents such as sales deed and transfer of ownership. A lawyer, well-versed in real estate law, can help you curate these documents in a reliable manner which would protect your legal rights as well as your sizeable investment.
What Are The Cons Of Not Hiring A Real Estate Lawyer?
As mentioned earlier, you can purchase a property without consulting a real estate lawyer but there are certain downsides to it. For instance, the sales deed or any other documentation prepared during the purchasing process might contain ambiguity or inconsistencies which might lead to legal complications in future. Furthermore, without a lawyer, you might not be able to run a comprehensive background check on the property which could also potentially lead to needless issues. Therefore, it is only wise to cover your tracks and buy your property in a safe and secure manner with the help of an experienced real estate lawyer who has a vast knowledge regarding the real estate laws governing your state or city.
If you want to find out more about real estate laws or wish to schedule a free consultation session with an experienced real estate lawyer, contact Fitzgerald Law Firm by calling at (630) 946-6060.