What Does A Real Estate Attorney Do For A Seller?

If you already have a broker or agent, do you still need a real estate attorney? Would adding another professional into the picture cut your bottom line? These are some of the common questions of many property sellers.

The reality is that these professionals are not the same – and you need both of them to take care of your interests. In some states, a real estate attorney is a not an option but a requirement from the start of the sale process down to closing the transaction.

In general, the real estate agent negotiates to get the best price for your property while the real estate attorney ensures that everything is done legally. It protects the seller from potential titling faults, documentation errors, and costly litigations.

According to the US Department of Justice, buying or selling real estate property is the largest financial transaction most Americans will undertake. As such, having a good legal counsel is crucial in such a major undertaking.

What are the roles of a real estate lawyer?

Real estate lawyers are specialists in matters related to land such as land and building ownership, sale and purchase of real property, real estate contracts, compliance with regulations, landlord-tenant disputes, property development, and property rights issues. Some attorneys focus on lawsuits specifically contractual issues involving property and land.

How a real estate attorney helps a seller?

In the sale and purchase of real property, the role of a real estate attorney differs depending on who he is representing. Usually, the lawyer representing the seller has an easier job than the one representing the buyer. He plays a role before and after contract signing.

According to a real estate lawyer from Orlando, the task of a real estate attorney begins from preparing sales agreement and evaluating listing terms before a contract is put together. These transactions involve many other aspects where the lawyer can provide sound advice. Some considerations when drafting a contract are property distribution, improvement restriction, possible future sales terms and conditions.

Once draft contract is finalized, the seller reviews with the real estate lawyer before handing it to agent. The real estate agent will then translate it to standard contract language. Some lawyers already have pre-written contract that they have previously used. A seller may prefer using the lawyer’s contract or may apply modifications. Checking and evaluating revisions with a lawyer is necessary to protect your interests.

An estate attorney is also useful in clarifying inquiries regarding counter offers. A seller must consult the lawyer about issues on tax to avoid detrimental decisions and to favor advantageous moves. Overall, an estate attorney serves as a good counselor before contract signing.

Once a contract has been signed, the buyer’s lawyer verifies that the title is not anomalous. This is the second part of the seller’s estate attorney’s job – to take charge in solving possible problems.

Lastly, it is the job of the seller’s lawyer to draft a deed transferring the property to the buyer immediately upon approval of the title. Every jurisdiction has it real estate laws which make this task complicated. A real estate lawyer is well-versed with these requirements and processes.

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