What Does a Real Estate Attorney Do for a Buyer?
In life, most people aspire to own a safe, secure home. A home purchase is a big decision, and one where you cannot afford to make a mistake. For this reason, it is a good idea to work with a real estate lawyer who has an expert understanding of mortgage fraud, disclosure fraud, subdivision and zoning, and contracting on land use laws.
As a home buyer, you should engage a knowledgeable and skilled real estate lawyer to ensure that the process of real estate being transferred occurs in a smooth and seamless manner. Following are some ways in which a real estate lawyer can help you as a buyer:
Title Documents Review
A title document refers to a paper that defines the legal ownership of any asset or property. A real estate lawyer searches and reviews this vital document on the buyer’s behalf. A title usually includes three key elements, which are legal ownership, occupation, and possession.
An important area in the transfer of real estate property between buyer and seller is a title search. A real estate lawyer ensures that the property will be sold without any issues, such as judgments or liens against the real estate. A key question is whether the seller is legally allowed to sell the property. Thus, it is crucial to work with a real estate lawyer who has significant experience in handling such matters.
Sales and Purchase Agreement Preparation
A sales and purchase agreement is a critical document that encompasses legal stipulations. This document represents a legal contract obligating a buyer to buy the property and a seller to sell the property.
It is important to note that this kind of agreement is typically associated with all types of real estate transactions to ensure that both the buyer’s and seller’s interests are protected. A seasoned real estate lawyer will ensure that the terms and conditions of this agreement are valid and protect the client’s interests.
Mortgage Documents
Mortgages are debts which the obligator must pay back according to predetermined plans. These debts can be taken to purchase real estate if the buyer cannot or does not want to pay the property’s entire price upfront. An expert real estate lawyer can explain the terms and conditions of mortgage documents and contact the lender if necessary.
Most homebuyers are not well-versed with mortgages and other legally binding documents. A real estate lawyer specializes in handling mortgage loans and associated paperwork, which makes the real estate transaction smoother for all parties involved.
Other Filings Processes
In a real estate transaction, filings are an important aspect. A real estate lawyer is a qualified professional who undertakes the filing of all kinds of real estate deeds at the state level. A real estate lawyer can handle problematic issues in a real estate deal, such as in cases where a specific type of construction is not allowed.
Property Transfer Process
The transfer of the property is possible when the contract is ready. Following contract preparation, the property transfer is undertaken in compliance with state regulations. A real estate lawyer handles various complicated aspects of property transfer as well as prepares these vital documents to ensure a seamless transaction.
Title Insurance
Homebuyers require title insurance before closing, and a skilled real estate attorney can offer help in acquiring this insurance. An attorney will carefully review these documents and check for any inaccuracies or errors. Further, the attorney will review tax issues and update you on the findings.
Closing
The final and most important step in a real estate buying process is the closing. At closing, all documents related to the purchase and sale of the real estate are signed by both parties. The real estate lawyer helps the buyer understand all the paperwork to sign and complete the real estate buying process. After the closing, the property’s ownership is transferred to the buyer.
Following the closing, the real estate lawyer will register all documents related to the purchase and selling process with the court to ensure a lawful transfer of real estate from one party to another.
Hire a Skilled Real Estate Lawyer for Your Real Estate Transaction
At Evans Law, our experienced real estate lawyers understand and are legally authorized to develop and review documents and contracts pertaining to the sale and purchase of a residential property. With our attorneys by your side, you can rest assured that someone is looking out for your best interests and will guide you through any complications that may arise.
The purchase of real estate can be a formidable process, which can be confusing for most buyers. You cannot afford to make a mistake as this is one of the most substantial investments you would likely make in your life. Working with a real estate lawyer can make this process more secure and smoother for you. To schedule a free consultation, message us online or call us today at (410) 626-6009.
