Real estate attorneys can be of great importance in certain real estate transactions. For most people, buying a home, land or property will be the biggest transaction you make in your life. That’s why it’s important to protect your investment as much as possible. When buying real estate there are many important legal decisions to be made, some of which can have legal consequences.
When You Should Hire a Real Estate Lawyer
Before deciding whether you want to hire a real estate attorney, there are a few questions you should ask yourself:
Buyers
- Are you an out of town buyer?
- Are you buying a property that is a short sale or bank owned?
- Are you buying a property that is part of an estate sale?
- Are you buying a commercial property?
- Are you buying a property that could potentially have some structural issues?
- Are you buying a property in a problematic area such as a flood zone or areas with adverse conditions (tornado prone, radon, toxicity levels, etc.)?
Sellers
- Are you selling a property that is in some state of distress?
- Are you the heir or executor of a property whose owner is now deceased?
- Are you selling a house with a non-cooperative partner?
- Do you have that gut feeling that something could possibly go wrong based on knowledge you have about the property?
- Do you have judgments or liens in your background?
Some real estate purchases require a lawyer in order for them to be successful and organized. When you’re dealing with commercial real estate or a purchase involving a large sum of money, you should consult a real estate lawyer. Some states even require you to hire a real estate lawyer when you’re making land purchases.
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