Probably wondering why you need a real estate lawyer? First, the process is overwhelming. A licensed attorney will take care of all the paperwork, complicated deals, and large transaction. It is therefore worth hiring renowned real estate lawyers such as Worrall Moss Martin Lawyers. They will offer you a level of service and security that no agent can match.
What is the Function of a Real Estate Lawyer?
The primary role of a real estate lawyer to a buyer is to ensure the purchase contract is correct and valid. They will also help you understand the agreement and make sure your interests are protected.
Moreover, a good lawyer should oversee all title work. ‘Title’ here refers to the evidence that proves you are the rightful owner of the property. Title work involves searching land and public records at the Registry of Deeds linked to the property you are purchasing. This uncovers mortgages, restrictions imposed by the seller and other property issues that need to be rectified before closing.
They are also responsible for overseeing the closing by reviewing all necessary documents for accuracy and ensuring they are signed.
Here the lawyer has an easier job compared to the one representing the buyer. You need to hire an attorney with good negotiating and problem-solving skills. Your lawyer should solve issues quickly to save the deal.
Here are other functions of an attorney to a seller:
- Helps you draft the terms of sale and review a listing agreement
- Guide you in case of counteroffers and resolve tax implications
- Prepare and review all paperwork
- Negotiate for the closing date and prepare a certificate of satisfaction that the seller has paid off all lenders.
4 Common Mistakes Made when Hiring a Real Estate Attorney
Hiring a lawyer is an intensive process. You will hear people complaining about their lawyers. This can be avoided if you avoid the following mistakes when hiring a lawyer.
- Hiring someone just because your friend recommended them
Why is this mistake? Just because your friend liked their attorney does not mean you will have a healthy relationship as well. Besides, your friend might have chosen a lawyer with the expertise you don’t need.
- Not putting into consideration the lawyer’s expertise
Not all lawyers can perform exceptionally well outside their area of expertise. As a result, do not engage a divorce lawyer if you need a real estate attorney.
- Picking a lawyer just because they are supportive
There is a difference between an empathetic lawyer and one who can handle your business affairs. Don’t mistake empathy for expertise. A good lawyer should have both qualities.
- Not checking all fees in advance
Don’t complain your lawyer is charging you a lot if you failed to review all costs upfront.
With all said and done, if you are purchasing or selling a property in Australia contact Worrall Moss Martin Lawyers. They are not only renowned but also licensed. They are just a phone call away. Call them and protect yourself from losing money and time while handling real estate matters.