A real estate attorney is a professional who focuses on real estate transactions. Some specialize in specific types of transactions including investment property transactions, commercial leases, and residential rentals. One area where this type of attorney is particularly active is in the purchasing of family homes.
Do I Need a Real Estate Attorney?
Several states in the United States have real estate attorneys involved in the home buying process either by practice or by law. This is because this type of transaction is incredibly complex and often requires the expert assistance of a real estate attorney. If a transaction happens to go astray, homebuyers will also need to hire a real estate attorney in Wichita, KS and often at a greater expense.
Hire an Attorney to Structure Deals, Not Salvage Them
The primary benefit of hiring an attorney to assist with the purchase of a new property is that they will be involved from the very beginning and will be able to help structure deals.
* Your attorney will be able to create, review, and negotiate a better sales contract that works to your benefit.
* A real estate attorney is an expert in overseeing the home purchasing process and will ensure that the transaction is in compliance with the terms and conditions laid out in the contract.
* Your attorney will perform a title search and determine whether there are any encumbrances or liens on the property.
Another benefit is that an attorney will be able to represent you should there be a contract dispute with the seller. They will continually negotiate the contract on your behalf, and they will represent you at the closing.
Protecting You throughout Complex Transactions
Your attorney will be able to financially protect you throughout even the most complex of real estate transactions. For example, the attorney will make sure that any rental properties you plan on buying will comply with local and state rules and regulations. They will review any new home contracts that have been drafted by a home developer, and they will help you structure a private loan from a friend or a relative in order to purchase your home. Other instances where you may need an attorney include:
* If the home is for sale by owner.
* If you plan on jointly purchasing the home and need to have a sound co-buyer agreement.
* If the home you are purchasing is in foreclosure, short sale or probate.
* If the seller is trying to get out of the deal (or if you want to break the contract).
If you are shopping around for a new home and are unsure of how to proceed with the transaction, schedule a consultation to meet Fleeson Gooing. Fleeson Gooing is a full-service law firm that specializes in real estate transactions.