When you’re dealing with a commercial or residential real estate transaction, the stakes are often high, and it is not uncommon for emotions to run high. Whether you’re a buyer, landlord, or seller, it is crucial to understand when it is best to hire a real estate attorney to protect your interests and advise you on the laws that govern the process.
Here are five situations when an experienced real estate lawyer may be the best option:
1. Drafting and Negotiating Contracts
When drafting a sales contract, lease documents, or any other legal documents related to real estate transactions, it’s best to have a trained professional handle the task. A real estate advocate can help ensure all the necessary documents are in place and negotiate any needed amendments to the contracts. The disclosures and representations required in a real estate transaction are detailed and require an experienced legal eye to ensure fairness and accuracy.
2. Navigating Title Issues
Title issues often arise around real estate transactions and can be challenging to navigate. As a buyer, you want to ensure the title is clear and free of encumbrances or liens. With a title search, you can check the status of a property’s title and make sure there aren’t any surprises down the line. With a commercial real estate attorney, you can ensure that the title is valid and all paperwork is in order.
3. Handling Tax Matters
Nothing will derail a real estate transaction faster than tax issues. It is imperative that you understand tax missteps that can result in penalties and fees. Mainly, you want to ensure that all applicable taxes are paid and accounted for. A competent attorney can help you navigate the tax maze and advise you on any legal issues arising from unpaid taxes.
4. Signing Documents as a Power of Attorney
You may be asked to sign documents as a power of attorney for another party involved in the real estate transaction. It is significant to comprehend the power of attorney laws in your state and to be aware of any potential liabilities before signing. Also, if you are signing on behalf of a minor, there may be additional legal hoops to jump through. Real estate attorney services can be beneficial in navigating these complexities.
5. Representing You in Court
If a dispute arises during the course of your real estate transaction, it may be necessary to take the issue to court. In that case, you’ll need an experienced real estate lawyer to argue your case before a judge. Having a commercial real estate attorney in your corner can significantly increase the chances of a successful resolution. Ensure the services of a lawyer who is well-versed in real estate contract law and can adequately represent you.
As more and more people become involved in real estate transactions, it is increasingly important to know when it’s best to bring in a professional. Knowing when to engage a real estate attorney services can help make sure the transaction is completed legally and ethically. You can contact us at Benson, Mucci & Weiss, LLP, if you need help with any real estate matters. With our vast knowledge of real estate law, we can provide invaluable guidance through all your real estate needs.