Why Should You Have a Lawyer Help With Real Estate?

There should be little doubt that you need a lawyer to help you with any real estate transaction. While it may be tempting to handle the transaction yourself or rely solely on a real estate agent, having a lawyer can provide valuable legal experience and protection throughout the process. Taking a DIY approach to the legal issues in your real estate transaction can cause you problems in the future.

Even after you purchase or own property, you may still need the help of a real estate attorney. There may be legal issues in owning the property or a dispute with an adjacent landowner, and post-purchase legal controversies can lead to costly days in the courtroom. While you should negotiate a resolution to these issues whenever possible, you may have no choice but to litigate. Then, you will need a real estate lawyer to represent you in court.

If you do not have a real estate attorney, you should contact one to schedule an appointment. You can learn how a real estate attorney can guide you through the transaction process or your property ownership. From reviewing contracts to conducting due diligence and representing you in negotiations, a lawyer can be your trusted advisor throughout the entire process.

Here are some reasons why hiring a Transactional Real Estate Litigation Attorney may be beneficial.

There Is a Large Amount of Money at Stake

Real estate transactions always mean that there are finances at stake. Even if litigation is not necessarily seeking money (but the right to use your property or establish ownership of all or part of it), your property value is on the line.

You never want to take any chances in a real estate transaction when there is the possibility of legal issues. A real estate attorney can spot problems and give you the maximum protection in a deal. You may never even know how much money and headache a real estate attorney saves you because they will ensure the transaction goes smoothly and will steer clear of issues that can cost you money.

Everything Must Be in Writing

Real estate contracts are subject to the statute of fraud, meaning they must be in writing to be enforceable. An oral real estate contract is impossible, as a court will not uphold it.

The existence of a written contract means that there is a document that contains all your rights and obligations in one place. If there is any doubt or ambiguity about the contract, it can cause you legal problems in the future.

A real estate contract can fit the facts and circumstances of your situation. If you are about to sign a contract, you should have someone review it first because the terms of the agreement are binding. A lawyer can help you understand the terms and conditions of the contracts you are entering into and any potential risks or liabilities. They can also ensure that you meet the necessary legal requirements.

Whether you are signing a commercial lease or dealing with any real estate transaction, a real estate attorney should review the contract before you sign. Your real estate lawyer can negotiate the terms of the deal and make changes to the legal language. Their job is to protect your rights in any contract that you sign.

Real Estate Lawyers Can Help You with the Closing

There is much that happens before and during the close. The real estate transaction process has a lot of legalities, and you must close on the property itself and the loan to finance it. Along the way, there are numerous tasks that a real estate attorney will perform on your behalf, including:

• Performing a title search to see if the title is free and clear and the owner has the property interest that they represent
• Reviewing the sales contract for the property
• Ensuring the accuracy of any transaction documents
• Preparing documents and filing them properly
• Negotiating with the seller’s attorney when there are issues that arise during the inspection process

There is no way that you will have the knowledge to complete these tasks on your own. Even if you do, so many other things are happening in your life when engaging in a real estate transaction. For example, if you are a seller, you may be in the middle of purchasing another property. As the buyer, you may be preparing yourself to make a move. Hiring a real estate lawyer is an investment you will make in a smoother transaction process and less pressure and stress on yourself.

Real Estate Transactions Can Lead to Litigation

Litigation is the worst possible outcome of a real estate transaction. Some potential real estate disputes include:

• Someone accuses the seller of making affirmative misrepresentations or the seller failed to make certain disclosures before the real estate transaction closed
• There are defects in the title, and the seller did not own the entire property that they claimed
• Two property owners may have a dispute about the boundary lines of their property or whether one has the right to use the property of another
• One party has breached a real estate contract by failing to perform in accordance with the terms of the agreement
• A construction contract can go awry when the contractor fails to deliver as promised, or the buyer fails to pay as required by the agreement
• Property owners may be unable to use their property as they want because of zoning disputes with the government.
• Someone is claiming that they own the property or the right to use it

These types of disputes can have broad financial implications for any party. A property owner may see diminished property value, while the seller can be financially liable to the buyer.

Real estate litigation can be especially contentious because property rights are at stake. Owners can be litigious (as they may have to be) when their property rights are on the line. If you must fight, your real estate lawyer can ensure you have a solid legal action, beginning with letters to the other party and continuing with potential filings in court.

The real estate litigation process can be complex and lengthy. You need to build evidence that proves your case so you can either negotiate a settlement agreement or win your case in court. Your real estate lawyer can gather the necessary proof, argue your case in court, and negotiate a potential settlement with the other party, which can help you avoid litigation.

CALL FOR A CASE EVALUATION

There May Be Other Legal Issues That Can Affect Your Transaction

Depending on the circumstances and complexity of your transaction, there may be other legal issues about which you need to be aware. For example, you may buy a property in an area with strict zoning laws. These laws can keep you from changing your home or doing the renovations you want. You may need assistance dealing with local officials and obtaining the necessary permits to work on your home.

There may be other legal restrictions based on where you live. For instance, you can live in an area that has protected wetlands, and there may be requirements that you must follow.

If you are in a commercial real estate transaction, there may be additional legal issues that you will need to consider. Zoning requirements may be even more stringent when they involve a commercial business. Further, there may be issues concerning compliance with other federal, state, and local laws, such as the Americans with Disabilities Act. Knowing any potential legal challenges before you reach an agreement to purchase or sell commercial real estate is helpful.

Real Estate Lawyers Can Help Increase Your Chances of Success

There is a misconception that lawyers get in the way and put up red tape when they deal with transactions. However, lawyers increase the chances of a successful transaction in which you achieve your goals and aims. A deal should not go through if it puts you at legal risk. At the same time, a real estate lawyer helps you deal with issues along the way, and they can remove areas of potential disagreement by helping you negotiate solutions.

If you are trying to handle real estate legal matters independently, you may deal with things out of a position of emotion. After all, your property rights or potential property ownership are at stake. Not only may you be unable to identify the issues, but you may also be unable to think clearly to resolve them.

Real estate attorneys develop practical solutions to vexing issues they can identify. They aim to facilitate closing your deal, although a transaction that does not meet your needs should not continue.

You can get much more peace of mind when you have an experienced professional who can handle the details of your case. There are fewer potential complications for you when a real estate lawyer can deal with the day-to-day details of your matter. You can focus on other things and leave the hard work to your real estate lawyer.

Property Ownership Has Its Challenges

Even if you own real estate, there may still be challenges and issues. One of the most common reasons why you will need a real estate attorney is when you have a dispute with an adjacent landowner. They may be doing something that is a nuisance, interfering with your use and enjoyment of the property. You may need an injunction to get them to stop certain conduct or file a lawsuit against them for damages. You can be part of a boundary dispute, where each of you claims the same property, or you may need to eject someone squatting on your land.

Additionally, some can accuse you of wrongdoing. For example, covenants may be part of the property that restrict your usage. Local authorities may claim that your use of the property endangers others or takes away from others’ quality of life. Thus, your property value can decrease because you may be unable to use it as you want.

At the same time, issues may arise when dealing with the government. It may have passed a regulation that takes away beneficial property usage or tries to take your property from you entirely. You do not have to take government actions that impact you lying down, and a real estate lawyer can represent you and protect your rights. The government is not immune from lawsuits if its actions have curtailed the use of your property or it tries to take your property from you.

Hire an Experienced Real Estate Lawyer Today

Buying or selling real estate is a complex process that requires careful attention to detail and a thorough understanding of the legal landscape. Whether you are a first-time homebuyer or a seasoned real estate investor, having an experienced real estate lawyer by your side is best.

Be sure to seek the advice of a real estate lawyer before issues arise or you make a mistake. By involving them from the outset, you can avoid risks or costly pitfalls and ensure a smooth and successful real estate transaction. Their knowledge will provide you with the peace of mind and confidence you need to make informed decisions throughout the process.

It is essential to have a real estate lawyer on your side. Their experience and guidance can save you time, money, and unnecessary stress. So, when embarking on any real estate transaction, make sure to hire a lawyer right away. Your investment and future peace of mind are worth it. Lopez Law Group can provide the expert legal assistance you need to navigate this process successfully.