What Does An Attorney Do During a Real Estate Transaction?

There are many details that go into real estate transactions. While it can be assumed that purchasing commercial property is a lengthy process, purchasing a home involves negotiations, inspections, contract drafts, revisions and a multitude of changes before both parties reach the closing table.

What Does a Real Estate Attorney Do For a Buyer?

If you're buying real estate, your attorney will help you create a modification letter, or list of items you have request to be repaired or changes made to the property before closing. This list contains items discovered during the home inspection, though having an experienced attorney can give you some additional considerations for potential changes as well as protection against previous claims such as mechanics liens on the property.

Purchasing Real Estate in a New Location

When you are purchasing a new home or business in an area you're unfamiliar with, you should have an experienced real estate attorney that knows the local market and gives you additional insights and considerations of the local area that someone moving from another area may not know. This could be anything from additional local taxes, ordinances or other local conditions.

What Does a Real Estate Attorney Do For a Seller?

As a seller, your attorney reviews any requests made in the modification letter. At this stage of the transaction, you can make changes requested or choose to counter-offer the buyer; this is where an experienced attorney can help you negotiate modification or buyer requests that can be advantageous to you.

During your real estate transaction, from the negotiating to the drafting and review of the final contract, your attorney reviews the details of your transaction from the smallest details of past repairs to current issues from recent home inspections & surveys to keep you aware of the important details of your transaction.

Protecting You From Liability

Even if you are confident that your real estate sale will go smoothly, having an attorney when you sell can be particularly advantageous if you own a property that has a history of repairs, has failed inspection or has other high-profile issues associated with it.

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Estate & Probate Administration for Real Estate Property

If you've lost someone, the process of distributing a loved ones assets after they pass may vary depending on if the die with or without a will or trust. If you've been named as an executor or an heir, having an experienced real estate attorney will help ensure the proper administration of your ones estate.

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Disclosure & Local Issues

When you hire an experienced real estate attorney, their job is to gather as much information from you as possible including issues and problems you have had at your property including major repairs, potential flooding and other relevant details. Being open and honest about your property not only keeps your attorney informed so they can disclose pertinent details, but your attorney will ensure you're protected from liability for these issues.