Whenever you are working on a real estate deal, it’s absolutely vital that you have a great legal team by your side. There are so many pitfalls and mistakes that can be made when handling real estate that it simply makes sense to hire a great real estate lawyer. People try to avoid legal fees, if possible, but the money spent to hire a great attorney for a real estate deal is money well spent. You might think that you are going to be fine handling a real estate deal on your own without the help of a knowledgeable attorney, but you are setting yourself up for failure with this approach. This article will help you understand why you should always hire an attorney for your real estate transactions.
1. A Real Estate Attorney is Different Than a Real Estate Broker
You might be getting these two titles confused, which can be a costly mistake. A real estate broker will help you with selling, buying, negotiating, or leasing a real estate property. A real estate broker might tell you that they can handle the legal side of things for a real estate deal, but there are crucial tasks that a broker simply cannot take care of for you. Hiring a real estate attorney provides you with a professional that can review all documents and contracts with a legal perspective. Without a legal point of view, you can miss out on crucial aspects of a contract that can cost you thousands.
2. Real Estate Lawyers Are Specialized
Another great reason to hire a real estate attorney for your real estate deals is that they specialize in real estate law. That means they are the perfect ally to have when you are looking over the legal aspects of a contract or real estate deal. Real estate attorneys can help protect you from financial loss and take care of important tasks like reviewing the title for a property. Real estate law has its own unique set of rules and regulations that differ from state to state. Unless you are an expert at this part of the law, it’s best to hire a professional to help out.
3. Real Estate Lawyers Can Help You Back Out of a Contract
Sometimes, things just don’t work out with a deal. It’s always a great feeling to know that you can walk away from a deal if you need to. If you have a real estate attorney working for you, they will provide you with an exit plan for the deal. They can help you understand the financial impact of walking away from a deal and let you know what the repercussions will be like for you after the deal is dead.
Hiring a real estate attorney is absolutely essential if you are planning to partake in a real estate transaction. Reach out to the offices of Derryberry & Associates LLP to speak with our team of real estate law professionals.