When Real Estate Lawyers are Helpful

Most of us are always looking for the ways to save money on our real estate properties, whether it’s installing our own floors, or self-help legal documents. The norm of hiring a professional, and often pricey, real estate lawyer is fading. However, sometimes the project at hand is too complex for us laypersons.

Real estate legality can be quite confusing, so there are plenty of instances where professional help is required. Sometimes you can get away without having one, but other times they are actually required to be involved. If you find yourself wondering if this endeavor is too confusing, costly, or stressful, you best find yourself a lawyer just to be safe.

Here are four situations in which you should consult a lawyer.

When it’s mandatory

A number of states mandate a real estate attorney be present during transactions. They are there to prepare the legal documents, and highly frown upon the deal if there isn’t one present; calling it “unauthorized practice of law”.

This phrase derives from the rules of professional conduct that govern attorney practice, and can result in sanctions against an attorney-supervisor for allowing this practiced without oversight. Luckily the states that require attorneys are Delaware, Georgia, New York, North and South Carolina, and not Kentucky. In these states, buyers have the right to choose their own attorney. Realtors, brokers, and lenders aren’t allowed to make a buyer choose a certain attorney.

When it’s complex

The issues typically requiring attorneys due to the complex nature of the deal involve: oil and gas rights, beachfront properties, historical properties, zoning disputes, preserved properties, adverse possession claims, properties subject to an easement, and riparian rights.

If you have any issues regarding these, you will save money by hiring an attorney now than dealing with it in court later. The attorney will also provide the benefit of making sure this deal staying inside the laws within the state.

When it’s high value

 Working with an attorney, while dealing with expensive real estate is something every investor should do. Buyers are investing in expensive real estate and want to make sure the property is in excellent shape, so they should demand full home inspections during the process.

Attorneys will work with the inspector to make sure it’s up to par, and the attorney can help negotiate with the seller if any issues arise.

Often times, luxury real estate is subject to several liens. A professional real estate lawyer is the best way to clear up any confusion in this area.

When it’s high stress

Finally, real estate can be stressful. Some experiences are good, and some are awful. If the seller is in a financial conundrum, or if the property is being sold from the estate of a recently deceased person, then you can count on having a bad time.

If emotion runs too high in these instances, rash decisions are made and things begin to feel forced, at which time could unsettle deals.

With a legal professional in your corner to walk you through the process, buyers and sellers can be guided through with confidence and a complete understanding of where they are. This is the case in which attorneys are actually helpful!

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