When it comes to real estate transactions, both buyers as well as sellers tend to think that enlisting the services of a real estate agent is sufficient in carrying out the transaction smoothly. Although engaging the services of a real estate lawyer may translate into increased expenditure, it is a good idea,as there are a number of pertinent services that they could provide you with. Here are some of the reasons why you should engage the services of these professionals.
Drafting or reviewing the contract
When it comes to contractual agreements, both buyers and sellers can benefit from retaining a real estate lawyer. The seller can have the lawyer draft a contract with the terms of the sale and ensure that all their needs are met. On the other hand, a buyer can have their lawyer review the terms of the contract before signing it. This ensures that the fine print will not be cause for misunderstanding down the road. By having lawyers draft and review the contract, you can also expect a timely closing of the sale, as the terms will be explained articulately to each party and ensure each understands their rights.
Confirmation of a title deed
When buying a property, you need to ensure that it has no outstanding liens attached to it. This is because they will simply be transferred to the new owner, whether you were responsible for them or not. By enlisting the services of a real estate attorney, you can be assured that they will conduct the appropriate research in public records to ensure that the title is indeed clear. In addition to this, they can research on the prior owner's insurance policy to track down the chain of owners of the title deed. Granted, you could choose to carry out this research on your own. However, it is quite cumbersome and tedious if the right resources are not available to you. In the event that any issues are found associated with the property in question, the lawyer can advise you on the best way forward in regards to the purchase.
Conveyance of the title deed
When it comes to property sales, it is always best to have a lawyer draft the deed to ensure the smooth transfer of ownership. The wording on the conveyance of property is especially important if you are the buyer. A lawyer will be best suited to ensuring that it is being transferred in the rightful manner, whether as marital property, sole ownership, or something else.
For more information, contact a local law office like Drennan Law Office.