When Should I Hire A Real Estate Lawyer?
There are a few varying circumstances in which hiring a real estate attorney is advisable. There are a handful of states that require the presence of a real estate attorney during closings and a handful of states that do not. However, in states where a lawyer is not required, there are still some circumstances in which it may be in your best interest to hire someone for legal representation. If you are considering whether or not to hire a real estate lawyer, keep reading for guidance in your decision-making process.
If You Live in a State That Requires Attorneys in Real Estate Transactions
If you reside in one of the following states, then you may not have a choice in hiring real estate lawyers. States like Alabama, Connecticut, New Hampshire, New Jersey, New York, Kentucky, Maine, Maryland, Massachusetts, Mississippi,, North Dakota, Pennsylvania, Rhode Island, South Caroline, Vermont, Delaware, District of Columbia, Georgie, Kansas, Virginia, and West Virginia will require the present of a lawyer during real estate closings. Even if you live in a state where a real estate lawyer is not necessary, it may be a good idea to hire one if you are unfamiliar with the process.
Litigation or Disputes that Arise from a Real Estate Transaction
Again, not all real estate transactions require the representation of a real estate lawyer at the beginning of the transaction, but one may become necessary if litigation or disputes arise during the process. Disputes, misrepresentation of documents, or easements may require the services of a real estate lawyer that can review, negotiate, or draft amendments to ensure your rights are upheld and the purchase is fair.
If You are Purchasing Real Estate
Attorneys service many important functions throughout the process of purchasing a new home or other real estate investment, including the following:
Examining the title to the property involved to make sure you will legally own the property.
Communicating with the lender, the seller’s attorney or agent, and all other parties involved with the transaction.
Making sure that all requirements and conditions of the contract are completed upon closing.
Making arrangements for title insurance coverage.
Recording all deeds and other legal documents in the correct court jurisdiction.
If you are new to the market of selling or buying real estate, a real estate attorney will be very helpful in answering questions and guiding you along the way.
If You Are Dealing With a Commercial Real Estate Transaction
Commercial real estate deals can be complicated, expensive, and a high amount of risk. Because most people are not well versed in commercial real estate, it is important to hire a real estate lawyer that can help you avoid costly mistakes. Commercial real estate attorneys can advise you on environmental concerns, zoning issues, liens, easements, legal description accuracy, structural conditions, and any rents derived from the property.
In real estate transactions where you are not confident in your own knowledge and skills, always hire a real estate lawyer for guidance. If you have never had experience with the real estate process, it may be best to hire a lawyer for help. Get in touch with the team at Matthews & Jones today.
