What does a real estate lawyer do a for a property buyer and what does he or she do for the seller? In this article, you will get to know both of these answers and what role does the real estate lawyer play in either scenario. Now read on to learn more.
Who does real estate lawyer represent?
A Real Estate lawyer can be hired to represent the property seller or the real estate property buyer. If it is your first time buying a real estate property, there is no doubt that this will be a new experience for you and a real estate lawyer will be an ideal resource! If it happens to your first time selling a real estate property like your home, you will find a Real Estate lawyer to be equally precious as they will prepare all the things you require to sell your home. Real Estate lawyers can also be hired to represent the interests of the landlord or even those of a tenant. In the property sale, a Real Estate lawyer might even be hired to safeguard the mortgage lender interests.
Real Estate Lawyer for Buyer
When a buyer engages the services of a real estate lawyer, this lawyer will often attend the closing along with the buyer. The closing will be when the actual sale takes place and all the cash is paid. Prior to the closing, the lawyer will do all the preparations for the necessary documents, which happens to be one of their most crucial functions. According to Asaf Izhak Rubin, the real estate lawyer is trained specially to make certain that all the required documents are correct in a legal capacity. A Real Estate lawyer will work in close collaboration with your mortage lender and your real estate agent to make sure that you have everything you require.
Apart from this very crucial task, a real estate lawyer will assist in ascertaining that the finds transfer and title search are completed in a proper manner. These are two of the most basic elements of buying real estate property, and when you talk about making the biggest purchase of your life, it is always a great and sensible idea to make sure it takes place correctly.
The truth is that it does not really matter what kind of real estate property you are buying, the Real Estate lawyer will know how to take care of your unique situation whether what you are buying is a condo, a single family home or any kind of real estate. At times, a Real Estate lawyer will advise you on aspects such as a survey so that you precisely know where your particular property lines are when you buy real estate so that you are aware if there are any encroachments on your real estate property. The real estate lawyer will be there with you on closing day to make sure that you are signing each and everything and buying the home in a legal manner.
Real Estate Lawyer for Seller
Hiring a Real Estate lawyer can also benefit property sellers apart from the buyers. While you might have become acquainted to rely on the contracts that your real estate agent has prepared for you, the truth is that the agent is only able to make use of generalized forms and Asaf Izhak Rubin has emphasized this several times as well. A Real Estate lawyer can prepare addendums and contracts that are specific to your particular situation, making sure that your interests are looked after completely. A great Real Estate lawyer can be very pivotal when you go through a divorce.
If the seller engages the services of a Real Estate lawyer, they will make sure that all the paperwork is properly completed, from the initial contract all the way to the final closing and title transfer.