Real Estate Law Basics – Understanding How a Real Estate Lawyer Can Help You As A Buyer Or A Seller

Buying a home or property? Selling your home or piece of commercial real estate? These types of transactions may seem simple, and a real estate agent may tell you that they can answer all of your questions, but the truth is that without the guidance and representation of a real estate attorney, you are putting yourself at considerable risk. There are plenty of things that can go wrong when you’re buying or selling real estate, and no matter how knowledgeable your agent may be about the value of property in a particular area or what the comps and fees are, only a real estate lawyer can provide you with legal advice and protect you from unexpected pitfalls. When you work with the real estate law firm of Wallace Law, we will ensure that your process goes smoothly and that all of your rights and interests are protected.

Though you may have worked with a real estate agent throughout the purchase or sales process, it is important to remember that no matter what side of the transaction you are on, your agent’s top motivation is to make sure that the sale goes through because that’s how they earn their commission. By contrast, when you hire a real estate lawyer to assist in the drafting of your sales contract or to review the contract that a seller has provided, you can be certain that they are acting as your advocate: your real estate attorney is not only on your side, but has extensive experience in the various complications and unforeseen circumstances that can arise in the midst of executing a real estate contract. They will not be put off by challenges – instead they will use their knowledge of alternative options to make sure that your goals are met. Likewise, they will provide you with an unbiased opinion when it is time to walk away.

May real estate owners and agencies utilize standardized versions of real estate purchase agreements. Though these boilerplate versions may be designed to be generic enough to be in the interest of both parties, every situation is different and every buyer and seller has their own particular needs. When you need a modification, a real estate lawyer will know how to amend your contract in a way that is legal and will stand up in court. They will take the time to understand your goals and needs and negotiate on your behalf to make sure that you are protected, and will do the required due diligence to make sure that there are no liens, illegal structures, or other complexities that might make a property less desirable or a bad investment. Whether you need assistance with your loan application or negotiating with the other party, a real estate lawyer will be by your side every step along the way. Call Wallace Law to see how our experienced real estate lawyers can help you with the purchase or sale of your property.

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