When Do You Need A Real Estate Attorney?

It is always a good idea to have at least a passing acquaintance with a real estate attorney, even if you think you don’t need one at the moment. Real estate attorneys handle a myriad of matters related to land, buildings, and properties. They oversee and record property transactions, appraisals and leases. They can help you defend against a foreclosure — or even carry it out if you’re a lender. They assist you with closing purchases if you’re buying a new property. They can also file lawsuits — or defend against them — in court.

Here is a summary of the most common tasks your run-of-the-mill attorney specializing in real estate is engaged in:

Representation During Negotiations
Interested in buying or selling a new property? You can get a lawyer who specializes in property law to stand in for you during negotiations. They will engage with other attorneys, developers, brokers, and investors to hammer out the terms and conditions of the deal.

Document Prepping
Only licensed lawyers have the authority to draft — or make revisions to — house documents. A typical attorney prepares a variety of documents, including leases, conveyances, rentals, and contracts.

Transaction Consulting
Worried about the fine print in a contract you’re signing? You can consult with a lawyer to ensure you’re not about to be ensnared by an obscure law you weren’t aware of. The lawyer will review the contract, oversee the transaction, and protect your interests.

Litigation and Settlements
Property deals fall through all the time. Disputes aren’t exactly rare either. A licensed attorney will assist you in defending against lawsuits (or file them if you’re the one with the grievance). They will participate in court hearings and handle everything in your stead.

Foreclosure Handling
Hundreds of thousands of properties are foreclosed every year in the US. Many real estate lawyers specialize in mortgages and foreclosures. Sometimes they’ll be able to negotiate with the lender for more time or to stop the process entirely.

Retaining a good real estate attorney can save you a great deal of time and money and provide you with some much-needed emotional support when things aren’t looking too rosy. A competent one will ensure all the transactions you’re engaged in remain above board and always look after your best interest.