A Real Estate Attorney can be of great help when one needs to buy a home or an investment property. Here’s how you get started to choose an appropriate lawyer.
Buying real estate is a complicated process as it involves the transfer of property from one party to another. A real estate lawyer can help by ensures that your best interests are met, providing legal advice, resolving disputes, or even just providing general guidance. They are important because they are familiar with laws associated with the industry.
When you buy or sell real estate in Florida, you also need to ensure that the state laws and regulations are fulfilled. A Brevard County attorney at Lacey Lyons Rezenka can protect your interests while fulfilling all the legalities. At our law firm, we know that every transaction is unique and must be considered with each client’s best interests in mind.
Are you not sure if you need to hire a real estate attorney for your next real estate investment move? This blog post will explain what is the role of a realtor lawyer and why you need to hire one.
Who is a Real Estate Lawyer?
A Real Estate Lawyer is experienced to advise parties during a real estate transaction such as a home sale. They can represent either buyer or seller and defend the clients if they come across any legal issues.
The Role of a Realtor Lawyer
While the duties of realtor lawyers may vary slightly between states, in general, they are responsible for the following:
- Researching and analyzing real estate closings and contract terms to ensure that the parties are fulfilling their legal obligations;
- Drafting legal documents related to real estate transactions, including sales contracts, purchase agreement, promissory notes, and mortgage documents;
- Providing representation and defense to clients facing legal risks related to real estate transactions or disputes;
- Monitoring real estate escrow accounts to ensure that the funds are being properly paid out at the appropriate time.
When Would I Hire a Real Estate Attorney?
The answer to this question depends on your location. In Florida, attorneys are legally required as part of the closing process. Even if your state law doesn’t require you to hire a real estate attorney, the following are some of the special situations when you might need legal services:
Fulfill different State’s or Country’s Requirements:
- Your property or assets are located out of state. Since the two states can have different tax codes so transferring the assets can be tricky. In this case, the law of land may require you to hire an attorney to fulfill the legal requirements.
- Your property or assets are located out of the country.
- You wish to sell on your assets to a non-US citizen.
- You wish to disinherit your immediate family.
- You have a blended family and you want to bequeath assets to a stepchild, stepparent, or half-siblings.
- You have immediate family members with special needs or who will require a guardian. For such family members, you need to appoint a guardian in your estate planning documents.
- You receive Medicare payments on someone’s behalf. In this case, you need to appoint guardianship for the person whose payments you received.
- You’ve received care through Medicaid. The recovery program may want to seek payment by claiming some of your real estates.
- You want to set up an irrevocable trust, which can’t be closed or changed once it is set up.
A real estate lawyer can help you by setting up a robust plan tailored to your specific needs and desires.
How Can I Find An Real Estate Attorney Near Me?
Buying a home or commercial real estate is an important transaction. If the thought of finding a trustworthy real estate attorney seems daunting, follow these steps.
- Decide which kind of real estate lawyer you need. Sometimes you might need a real estate lawyer to handle sale closing documents or take care of complicated matters like foreclosure. Choose an attorney who has the experience to handle a situation like yours.
- Get recommendations from social circles. Ask your lender, title company, or real estate agent for a referral.
- Use the Florida Bar association directory. The Florida Bar Association’s website can help you find an appropriate real estate lawyer. You can also use the American Bar Association’s directory to help you find your state’s website.
- Read Online Reviews. Online review websites can also provide you information about attorneys in your area. You can gauge their expertise by the reviews left by the former clients.
- Choose two or three lawyers to interview.
- Ask about their rates and how much they will charge to handle a case like yours.
- Make sure that the real estate lawyer you choose treats you with respect and you are comfortable working with them.
What is Closing?
Closing is an event when the parties of a real estate transaction get together in a single location. During this event, all the important documents are signed and the payment is transferred from the buyer to the property owner. The seller also transfers the rights of ownership to the buyer.
The Role of a Closing Attorney
A closing attorney can organize, carry out and finalize real estate closings. They represent the buyer in the buyer’s purchase of real estate or refinancing of a mortgage loan. Hiring a closing attorney can help you avoid pitfalls that might cost you valuable time and money in the long run.
The following are some of the responsibilities of a closing attorney.
- A closing attorney ensures that all the legal requirements are fulfilled by the buyer and the seller.
- They study title records and ensure that the unpaid mortgages, liens, prior conveyances, and easements have been dealt with before the closing.
- The closing attorney also ensures that the seller can legally transfer the deed of the property.
- During the real estate closing, the information in the closing document is explained to the involved parties by the closing attorney. The terms of the transaction are presented and the obligations of both parties are explained.
How Can I Find a Closing Attorney Near Me?
A Real Estate Closing can be a nerve-wracking experience as loads of money passes from buyers to sellers during the event. If you choose an experienced and trustworthy closing Real Estate Attorney, you can avoid stress and hassle.
The following are our tips to choose your closing attorney:
- Shortlist three or four closing attorneys after going through online reviews, checking out the expertise of each lawyer, and getting recommendations from friends and family.
- Schedule a consultation with each attorney. Clarify their fee structure and ensure they are licensed to practice in your state.
- Once you are satisfied, provide them with the documents related to your property so that they identify any problems or issues before the event of a closing.
Next Step: Contact a Melbourne FL Real Estate Lawyer at Lacey Lyons Rezanka Today
Buying or selling a property may seem a tedious process but an experienced real estate lawyer can help you navigate through the ins and outs of the process. Get help from an experienced real estate attorney at Lacey Lyons Rezanka today for your real estate matters. Contact us for assistance with preparing the documents necessary to transfer your assets according to your wishes.