Benefits of Working With a Real Estate Attorney
If you are like most people, you only think about hiring an attorney when you are in hot water. In fact, you probably never considered working with a lawyer on a real estate purchase. However, whether you are purchasing your first home or you are pursuing real estate investment, you can find value in working with a real estate attorney.
They Have Contract Experience
Real estate attorneys spend their days writing and reviewing contracts. They understand how to read sales contracts, appraisals, disclosures, inspections and homeowners association documents. Then, these professionals can clearly explain the details of each of these documents to you in a way that you understand what you are getting in the property, what is wrong with the property and what you can do with the property. A real estate lawyer Ashburn VA is an expert in real estate law as well, so these individuals can identify contract terms that are not legal.
They Are Adept at Negotiation
If you don’t spend your days in negotiations, this can be a foreign process to you. However, when you are purchasing something as financially significant as property, you need someone who is adept at negotiation. You don’t want to pay more than the property is worth, and you want an equitable or favorable contract.
They Understand Filing Requirements
Real estate law is complicated and has very specific requirements. One of these is filing documents at the right time. For example, legal documents, such as deeds, must be filed with your county when a property is purchased or sold. Although many rely on mortgage companies to handle this, if they make a mistake, it can cost you down the road. However, a real estate attorney should ensure that all your filing is done correctly and at the right time.
They Help With Closings
First, property attorneys can complete title and lien searches on real estate. You cannot close on a property without a clean title and no outstanding liens. Then, your attorney can represent you during the closing process, including preparing the documents.
As you search for your newest property acquisition, work with a real estate attorney who can help you get the best deal.