4 Reasons To Hire A Real Estate Attorney If You're Purchasing Residential Or Commercial Property
Whether you're purchasing a new house or investing in commercial property, it is always in your best interest to hire a reputable real estate attorney. A real estate agent is also a very important resource when purchasing property, but the services that a real estate agent provides is very different than those of a real estate attorney. Some of the top reasons for you to hire a real estate attorney when purchasing residential or commercial property include:
An Attorney will Protect Your Best Interests
When it comes to real estate transactions, many of the people involved are paid on commission. Due to this fact, real estate agents and other real estate professionals may try to push a deal through just to ensure that they get paid. A real estate attorney is different-- you pay for his or her services directly, and he or she will work on your behalf to ensure that every detail of the transaction is reviewed and you are completely protected from any problems.
A real estate transaction involves many contracts, and these contracts can be quite complex and complicated for someone who is not well versed in real estate law. Attorneys receive advanced training in analyzing contracts, so when you hire a real estate attorney to represent you, you can count on him or her to read every contract and ensure that each contract is properly written and does not have any mistakes that could put closing in jeopardy.
Assist with Unforeseen Situations
Ideally, all real estate transaction would progress smoothly and close on time. Unfortunately, that is not reality, and there are a number of issues that can delay closing or even cause a real estate deal to fall through. Real estate attorneys have an in-depth knowledge of real estate law, and they are able to deal with any unforeseen situations that may arise while the property is in escrow. Whether there is a problem with a property's deed or title, or the property has a lien against it, you can count on your real estate attorney to resolve the problem.
Explain Legal Documents
When you are purchasing a residential or commercial property, you will need to sign a huge number of documents. There will be mortgage loan documents, closing documents, and documents related to your title insurance policy. As most people know, you should never sign a legal document if you don't understand exactly what it says. A real estate attorney will review the documents and explain what each one says before you sign anything.
Contact a firm, like Johnson Motinger Greenwood Law Firm, for more help.