Handling a real estate transaction on your own can be a daunting task, whether you are a first-time homebuyer or a seasoned business owner selling commercial property. An experienced real estate lawyer can help make the process run more smoothly and help you effectively navigate any bumps in the road.
Why Hire a Real Estate Attorney?
1. Attorneys Provide Unbiased Advice
Unlike most real estate agents, your attorney does not have a financial stake in your real estate transaction. Your lawyer’s job is to represent your interests and help you make informed decisions about whether to buy or sell a property, not to sway you one way or the other.
2. Real Estate Transactions Are Complex
From FSBO transactions to large projects involving multiple developers, there are many elements that must be taken into consideration in any real estate deal. Each transaction presents its own unique requirements and challenges. If you are unfamiliar with the specific language that must be used in legal documents like contracts and deeds, serious, costly errors can occur. Your attorney can also help you understand the terms of your transaction and advise you of its potential risks and benefits. Having a knowledgeable contract lawyer by your side ensures that all of your legal bases are covered and your interests are protected.
3. Legal Issues May Arise With The Property
Unexpected issues pop up in real estate deals all the time. Liens, zoning restrictions, easements and title issues can all impact the value and viability of your investment. When issues do arise, your attorney will discuss them with you and advise you on the best way to address them—including whether or not you should gracefully bow out of a real estate contract.
4. Your Lawyer Can Handle Negotiations For You
Having someone else handle the negotiations in your real estate transaction can cut down on stress and save you a lot of worry. An attorney who has extensive experience in handling real estate transactions should be a seasoned negotiator. If you are at a stalemate and negotiations are in danger of breaking down, your lawyer may very well be able to get the deal back on track, or if necessary, tell you when it is probably best to quit.
5. Your Attorney Can Take Legal Action When Necessary
Although most real estate deals close without major disputes, legal issues can arise without notice in any real estate transaction. Failure to disclose defects, fraud, boundary issues and breach of contract are just a few pitfalls that may require legal action. It is particularly important to seek the counsel of experienced business lawyers in commercial transactions in case a deal goes south. An attorney can advise you of your options and may be able to help you avoid costly litigation. However, if you do end up in court, your attorney will act as your advocate and aggressively protect your interests.
At Carosella & Associates, our Pennsylvania real estate lawyers have decades of experience in handling all types of real estate transactions and disputes. From drafting a letter of intent to closing, we are there to provide advice and assistance very step of the way.