Residential real estate issues: When to involve an attorney
Purchasing a home will most likely be the largest and most significant investment you will make in your lifetime. However, such an accomplishment also involves the law of real property, which raises unique issues of practice, including issues not apparent in other transactions.
This is why you may require the legal experience of a qualified residential real estate attorney, who can provide legal guidance for individuals relating to the purchase or sale of real property. These types of lawyers are professionals who specialize in–and apply their legal skills to–matters related to property, whether it’s a transaction or a dispute.
A real estate lawyer can prepare and review documents related to real estates, such as purchase agreements, title documents, mortgage documents, and transfer documents. He or she can also ensure the transfer is legal, binding, and in the best interest of his or her client.
The following are the all the legal issues that an experienced residential real estate attorney can do for you:
- Buying property – In addition to handling paperwork related to purchasing the property, a lawyer can ensure clean title transfer, deal with financial issues involved in getting a mortgage, protect you during the closing, potentially save you money, decrease the likelihood of the deal falling through, and occasionally even resolve easement issues to ensure you and your neighbors have a legal right to access your own property via the property of a neighbor.
- Financial issues – In a tough financial environment, you may need a residential real estate attorney who can help protect you from unexpected situations or when your financial life changes. An experienced lawyer can negotiate short sales and loan modifications, as well as help you refinance your mortgage.
- Homeownership – Issues may arise while you live in your new home. Conflicts may occur with neighbors. Zoning issues may impact your ability to reconstruct your landscape. If any of these situations occur, you need a residential real estate attorney to help resolve the issue. Hiring a residential real estate attorney will substantially reduce the likelihood of post-closing disputes. Disputes can occur from ambiguities or mistakes in the contract, problems with the title, or issues with the condition of the property after it is received. He or she can achieve a resolution either outside or inside the courtroom.
- Property sale – As soon as you own a home, purchasing a new one can be quite complex. Legal transactions may increase when you sell one home and buy another, and coordinating both sets of issues can be difficult for one person to handle alone. A residential real estate lawyer has extensive experience coordinating the simultaneous purchase and sale of properties in order to make the ordeal more manageable and achievable.
To discuss your real estate legal needs, contact our Grant Legal Group PA and request a free consultation with our Jackson real estate attorney today.