Have you ever wondered what roles a real estate lawyer plays? Do you want to know how hiring a real estate lawyer will help you in matters relating to buying or selling a property? Do not stress out; read this write-up attentively to make an informed decision about hiring a real estate lawyer.

Before going further, it is important to know that surrounding yourself with professionals will make life easy, hassle-free, and highly rewarding for you. In the same vein, working with a reliable real estate lawyer will help you immensely. Find out how below:

Roles Played by a Real Estate Lawyer When Buying a Home

The following are the roles or duties you can expect from a real estate lawyer when buying a property:

1. Careful review and interpretation of the purchase agreement and other related documents to avoid agreeing to conditions or clauses that can cause issues in the future
2. Verifying and ensuring that the property does not have claims listed against it
3. Making plans for title insurance
4. Verifying and making sure that property taxes are paid till date, no outstanding to avoid running into debt unknowingly
5. Calculating the payable land transfer tax on closing to avoid overpayment
6. Ensuring that the buyer gets a valid title on closing
7. Creating all the essential mortgage documents
8. Closing the transaction appropriately – ensuring that all necessary conditions, financial and legal, are met satisfactorily and all parties are happy
9. Ensuring that all legal documents are signed and exchanged by all parties

Roles Played by a Real Estate Lawyer When Selling a Home

Here are roles that a real estate lawyer plays when you are selling a property:

1. Careful review and interpretation of the Agreement of Sale and other related documents before you sign
2. Help negotiate and agree to the terms and conditions, very crucial to avoid agreeing to unfavourable conditions
3. Preparation of the deed to the property
4. Resolve title issues as they come up
5. Close the transaction professionally
6. Ensuring that all financial and legal conditions are met
7. Ensuring that all legal documents are signed and exchanged by all parties and releasing the keys to the buyer’s real estate lawyer

Takeaway

From the above, it is clear that you need to work with a real estate lawyer to have your legal burdens professionally handled. The importance of hiring a real estate lawyer when purchasing or selling a house cannot be downplayed. The real estate market is complex and volatile; you need the experience and expertise of a real estate agent to avoid issues and get maximum value for your money.