Both buyers and sellers in property transactions benefit from having the services of a real estate attorney. Problems that arise during real estate transactions can be complicated and expensive. Problems that arise after the transaction has closed can be very difficult to handle. An experienced attorney can prove to be invaluable in solving and avoiding problems.
How a Real Estate Lawyer Will Assist the Buyer:
* The lawyer will help the buyer to understand the purchase contract. There are often terms that are not clearly understood or should be changed.
* Some property might be encumbered with liens, easements or covenants. Being aware of this is critical as they will affect the purchaser’s use of the property.
* Mortgages are complicated. The attorney will be able to explain the mortgage and if modification is needed, will work with the bank.
* The attorney will prepare and review legal documents as well as attend the closing. At that time, the lawyer will review financial adjustments (taxes owed, etc.) and closing documents before the buyer signs them.
* The real estate attorney will review title documents to be sure that the buyer has a clear title. Even if a property has changed hands previously, an old title defect can rear its ugly head and need to be resolved.
* Real Estate Attorney in Carmel NY will make sure that the buyer legally owns the property, subject to the mortgage or any other liability that the buyer accepted.
How a Real Estate Lawyer Will Assist the Seller:
* The seller’s lawyer will review and/or prepare any necessary documents including the purchase and sale agreement and negotiate terms.
* If necessary, the attorney will prepare a power of attorney and the deed.
* Often, the most valuable service the attorney will perform is the one that wasn’t expected. It may involve zoning or code problems, title defects, a home inspection report or a host of other possibilities. Experience matters when hiring an attorney and can make the difference between a successful sale and no sale at all.
* The lawyer will attend the closing and review documents before they are signed. He or she will also handle security deposits.
Hiring an experienced Real Estate Attorney in Carmel NY will make the real estate transaction safer for both buyers and sellers. The lawyers at Spain & Spain, PC have handled thousands of real estate transactions and understand what is required. Visit Website to schedule a free consultation.
