You may have heard that not all real estate transactions are created equal. And it’s true. While some real estate transactions are much more “black and white,” others are packed full of details that should be carefully reviewed before any papers are signed. When determining if you need an attorney for a real estate transaction, consider your answers to the following questions:
1. Are you dealing with a foreclosure deal, short sale or purchasing a commercial property? Many times these types of real estate transactions can be accompanied by nuances. Because they are not always as straightforward as the routine sale of a single family home, it can be wise to invest in a knowledgeable real estate attorney who has worked on similar cases as yours and also has several years of practice.
2. Are you buying or selling a property that is or has been problematic? Examples might include being located in a flood area or having high toxicity levels or other adverse conditions. The presence of problems such as these may indicate the need for a real estate attorney who can protect you and help facilitate a decision that is in your best interests.
3. Are you selling a property for which you are the heir or the executor and the owner is now deceased? Making sure that you are abiding by the correct legal guidelines of a specific state, as well as your loved one’s will, is important in these types of transactions. Attorneys can help draft contracts and counsel you on the best ways to proceed with these property transactions.
4. Are you selling a house with a non-cooperative partner? If so, an attorney can better ensure that all contracts are legally binding and that the correct protocol is followed.
Above all, if you ever feel uneasy about a real estate transaction or simply want to better understand contractual terms, a real estate attorney can be a great investment for you. Not only can he/she provide assistance during negotiations, your attorney can also review any related documents that might be beneficial to your case.
If you’d like to learn more about the real estate attorneys at Langdale Vallotton, LLP, please contact us.