There are all sorts of lawyers out there who can help you with your predicament. Whether you’ve suffered a personal injury, or you’re looking to get a divorce, a lawyer can be helpful for navigating laws. Yet, one of the most complicated areas of law is real estate. The world of real estate is incredibly complex and hard to navigate at times— even for experienced real estate agents. This is because real estate transactions can be incredibly risky, full of fine print, and laden with all sorts of legal intricacies where things can go wrong for either party.
For this reason, real estate lawyers are there to help assist through real estate issues, offering their expertise in understanding the legal jargon. While there are many situations where people can navigate a transaction without the help of a lawyer, there are other situations where the expertise of a real estate lawyer is indispensable. Here are some scenarios where you might need the help of an experienced real estate attorney.
Drawing Up Legal Documents
Real estate transactions come with all sorts of legal documents attached to them. Everything from mortgage agreements to deeds are packed with contractual terms that can be difficult for the average person to understand. Yet regardless of how well you speak English, understanding legal documents can be downright overwhelming.
After all, “legal English” is in an entirely unique category of its own. Luckily, a real estate attorney speaks this language and can help you break it down into more simplistic terms. Their expertise will help you ensure not only that the paperwork is correct and, in your favor, but that you don’t end up signing yourself up for something that could not only be a financial disaster but also put you into legal trouble.
It happens more often than you might like to think— you purchase a piece of property, thinking that what’s on paper is yours, only to find that there is a boundary disagreement. Your neighbor is convinced that part of the property is theirs, while you’re convinced the same thing. A real estate attorney is there to help with these kinds of disputes and represent your interests should you have to go to court.
This can be a serious problem when you’ve made an investment in a property only to find that the situation isn’t what it seems. Aside from that, quarreling with neighbors over property can detract from a harmonious living environment and be toxic for everyone involved. A lawyer is there to swiftly solve concerns and questions and settle things once and for all.
Foreclosures are unfortunate, yet statistics show that foreclosures are up over 10% over the last five years. However, when you are unable to pay your mortgage, sometimes there’s no other solution than for the bank to reclaim what you owe.
This can be incredibly distressing for homeowners, which is where a real estate attorney can be incredibly valuable. They can help you explore different options for modifying your loan, and even negotiate with lenders on your behalf. Since they know the ins and outs of foreclosure laws, they can help you make better-informed decisions, and ultimately help you through the foreclosure process if it’s indeed inevitable.
Commercial Real Estate Transactions
While residential real estate transactions are undoubtedly complicated, commercial real estate transactions are in a league of their own. They involve considerably higher amounts of money and more complicated contracts. Often these transactions come with a lot of intricacies like zoning laws and even environmental compliance, which is why a real estate lawyer is so important to protect your business’s best interests.
Unless you have years of experience in commercial real estate transactions, most experts will agree that having a lawyer is critical to help you through the process if you hope for your business to thrive and steer clear of potential legal implications.