With the drastic change in the housing market compared to pre-pandemic times, many have chosen to buy and sell property. It is apparent that one would seek the assistance of a real estate agent, but some may not be aware of the significance a real estate lawyer can play in the transaction. Understandably, one may ask what is a real estate lawyer? This blog piece will address the specific roles and responsibilities of a real estate lawyer, and how they can further improve your property transaction experience.
The textbook definition of a real estate lawyer is a lawyer involved in legal practice relating to real property. The broadness of this definition is to show that real estate lawyers are involved in much more than just the buying and selling of homes, such as development, acquisition, disposition, and rezoning. Not only in residential circumstances, but real estate lawyers can also advise in commercial real estate transactions such as negotiating leases, refinancing, and providing due diligence where needed.
It may be common knowledge to seek a lawyer only when a transaction goes awry, but an attorney can assist even before a real estate contract is signed and finalized. Having a lawyer involved early in the process allows for an avoidance of obstacles, as they can be discovered by the lawyer doing their due diligence of the transaction. Whether you are the buyer or the seller, a lawyer can assist you in different ways. If purchasing property, the lawyer can act as a mediator between you and your mortgage lender, they can review the agreement of purchase with you to ensure all your questions are answered, and further help you better understand your rights as a buyer. Likewise, as a seller, an attorney will assist with negotiating terms and conditions, exchanging legal documentation with the buyer’s lawyer, and guaranteeing all closing conditions are satisfied.
Next time you are involved in a real estate transaction, consider seeking the advice of a lawyer. A real estate lawyer has the legal background to both access information that may not be easily obtained by the public and translate its meaning to better assist you in making a sound decision on how to further proceed.
At 6ix Estates LLP, whether you are purchasing, selling, or refinancing real property, we will not only seek to close your matter effectively and efficiently, but we’ll also personally guide you throughout the transaction and answer any questions. We bring extensive experience and professionalism to every transaction and customize our support to your specific needs and concerns. We’re on the pulse of modern technology and have monitored its evolution to inform our own legal approaches—all to give you exceptional timely advice and service.
Contact us today for a free 30-minute no obligation consultation, to discuss all your real estate needs!