Some people are the types who want to take care of everything by themselves. “If you want a job done right, better do it yourself!” – is usually only valid if you specialize in that job. When it comes to handling real estate, it’s best to leave it to the professionals. You may wonder what services these lawyers actually perform. Here’s a quick run-down on four things that real estate lawyers do that you might take for granted:
Create legally binding contracts
Buyers and sellers can negotiate the terms of the sale on their own; however there are some legal procedures to follow for the State to recognize the sale. Everything must be stated within a written contract and transcribed within accordance of the law. Although most real estate agents will offer to provide the contract, they are motivated by closing the sale and often follow a standard template. They may not adjust it according to your needs and may not pick up on errors before the finalization of the agreement. It is more beneficial to let them help you negotiate and create the contract accordingly.
Submit all paperwork
Many types of real estate deals will require you to submit paperwork to the state and sometimes the county as well. A real estate lawyer knows how and where to file all the requisite documents and will do so quickly and efficiently. These records are important to ensure that this property legally becomes yours, to live, sell, or mortgage as you please.
Investigate any issues associated with the property
A seller may fail to disclose any outstanding issues with their property, such as unpaid mortgages, a judgment lien, or even termite infestations. Some of these things can be found within public records, but some people don’t think to search for them. Lawyers have connections with title search companies and so they can access this information for less cost and time. They’ll also investigate the property for any problems they know people are likely to hide and could even help bargain down the price for you.
Cover all legal grounds
If you are purchasing a property for commercial purposes, there are more procedures to follow than those for residential purposes. Some real estate lawyers are also trained in this field and can help you establish a legally valid business identity, obtain a tax identification number, and secure your business license in your local government. They will also inform you if you are violating any zoning laws and can give you advice on which locations are best suited for your business.
If you are interested in buying or selling a property, it’s always best to consult a real estate lawyer within your state before you pursue with the deal. It can help you prevent some possible legal woes in the future. Why wait until something goes wrong before taking action? With a real estate lawyer by your side, you aren’t just purchasing paperwork and guidance; you’re also purchasing peace of mind.
Robert Aronov & Associates, PC 88-02 136th St Jamaica, NY 11418 (718) 206-1555 realestatelawyernys.com