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What Does a Real Estate Attorney Do? by Cleo Gib





What Does a Real Estate Attorney Do? by
Article Posted: 12/16/2015
Article Views: 146
Articles Written: 12921
Word Count: 632
Article Votes: 0
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What Does a Real Estate Attorney Do?


 
Real Estate

A real estate attorney in Austin can make your life a lot easier, so long as you know when to seek help. Unfortunately, many people do not fully understand what a real estate attorney does or how their services may be applied. Even if you are not currently in need of real estate assistance, it is important to know what help is available to you should a change occur or a need arise. Here are 10 aspects of the real estate world with which attorneys frequently help their clients. 

Buying

You are taking a huge, exciting step when you decide to purchase a home or other piece of real estate. An attorney can walk you through the process, help you understand documents and agreements, and make sure that you're protected and legal in your ownership. Every city, county, and state has its own set of laws and regulations for land use. Your attorney will be aware of these restrictions and can assess how they might affect your plans for your property.

Selling

As with buying a home, a real estate attorney can simplify the selling process for you. In most cases, sellers require less legal assistance than buyers, but the work an attorney does for a seller can greatly reduce stress and confusion. Your attorney can handle negotiations for you if you choose and work with the other attorneys and parties involved. 

Review

One of the most important functions of an attorney in the buying or selling process is the review of documents and agreements to ensure that the best interests of the client are protected. Even if you choose to do your own negotiations, you can have an attorney look over your contracts and deals. Attorneys are trained to see potential problems that you may not have been able to identify.

Drafting

In addition to reviewing documents from the other party, your attorney can draft your documents. Perhaps the most notable of these are the closing documents. Your attorney will also be prepared to negotiate and revise documents.   

Inspections

It is important to thoroughly investigate a piece of real estate before you buy it. In all likelihood, neither you nor your attorney will be qualified to do this, but your attorney can coordinate with a professional to set up an inspection. Once the inspector has created a report for your potential property, your attorney will review it and factor in any relevant findings to the transaction proceedings.  

Leases

If you are buying a property with tenants, such as an apartment building, leases can add a layer of complication. A real estate attorney will work with the seller to help you review and take over tenant leases. 

Mortgages

Another added complication in a property transaction is an existing mortgage on a piece of real estate. Mortgages must legally be paid off before you close the deal. Your attorney will monitor the status of the mortgage to ensure that everything is on track. 

Litigation

Unfortunately, there are times when something goes wrong with a real estate transaction and a lawsuit must go to court. Your attorney will represent you in litigation with the goal of protecting you and your interests. Their participation includes generating and filing documents, speaking in court, and filing appeals. 

Foreclosure

When it comes to foreclosure, real estate attorneys are important to both borrowers and lenders. In many cases, an attorney's job in a foreclosure involves filing a lawsuit. Attorneys for both sides will pay careful attention to the proceedings to catch potential problems and mistakes. 

Financing 

In many, if not most, cases, financial assistance is needed to purchase property. A real estate attorney in Austin will walk you through mortgage financing, make sure you get the help you need, and talk through your plan for the future. 

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