This Is What A Real Estate Lawyer Does In Case You Will Need One
A real estate lawyer usually reviews and documents a real estate transaction. It includes leases, purchases, appraisals, and inspections. They also help resolve environmental issues and title insurance. When things go wrong on the real estate transaction, real estate lawyers step into files and defend lawsuits in court.
Many of the real estate lawyers also help the lenders carry out a foreclosure. As for others, they help the borrowers defend against the foreclosure. Having a real estate lawyer guarantees you a stress-free transaction.
Draw up Documents
One of the major roles of the real estate lawyer is to draft the. Real estate attorneys also prepare the deeds for transactions in conveyance, rental and lease agreements, purchasing contracts, and financing agreements. While the state law allows real estate agents to help the clients fill out these types of documents, keep in mind that only licensed lawyers can draft and revise the documents.
Negotiate Sweet Deals
Real estate lawyers are also great with negotiating good deals. Lawyers have sophisticated experience with various types of real estate transactions. Clients often ask their real estate lawyer to negotiate the conditions and terms of real estate deals. It may involve working with other lawyers, brokers, developers, and investors.
Review Sales Transactions
Some real estate attorneys are involved only in providing advice and reviewing real estate transactions. The clients will then negotiate their deals, sign the contract and then ask the lawyer to perform the “due diligence” which can be found on the deal. This simply means that the lawyer will examine legal title issues, report environmental issues and draft contracts or other documents involved in the transactions.
Real estate lawyers also have specific training that would allow them to spot the problems that their clients are not able to recognize. The real estate lawyer plays as the “guardian” for the clients to make sure that the clients do not fall in any unseen legal traps.
Engage in Litigation
Real estate transactions do not always work out. When they don’t, it is common to be involved court lawsuits. Thus, real estate lawyers represent their clients in real estate litigation. This would include the drafting of legal pleadings to file with the judge, filing the appeals if necessary, and participating in hearing and trial. This also includes bargaining with the opposing counsel and trying to work out the settlement agreement.
Handle Foreclosure Proceedings
Many of the real estate attorneys have specialized in mortgage and trust deed foreclosures, particularly during the difficult economic times. Some of the lawyers represent the lenders while some represent the borrowers. The lawyers that are representing the lenders help guide their clients correctly through the foreclosure process. It may include filing a lawsuit in court.
The goal of lawyers representing the borrowers is to make the foreclosure process more challenging. They will spot every mistake made in the foreclosure process and will always negotiate with the lender until he or she agrees with a settlement.
Article Source: SFGate
Prowse Chowne LLP
Lawyer Referral Service of Central Texas