07 Jan 2017

What is the job of a real estate attorney?

Answer 1-
Real estate lawyer is the expert seller who deals in the buying and selling of home. He helps you to find the right house, with negotiation prices and closing date. Real Estate Attorney reviews the offer and make sure that the rights relating to the property are protected. Real Estate Lawyers perform all the legal work.
The role played by a lawyer while buying a home is as follow-
– Helping the buyer to understand the contract of purchase.
– There is no easement and liens registered against the property.
– Preparation of the legal documents.
– The terms of mortgage need to be clarified.

Answer 2-
Real Estate Lawyer is playing an important role in both buying and selling of a property-
In case of buying-
– The adjustments and taxes need to be scrutinized.
– Closing need to be attended.
– Proper arrangement for the protection of title insurance
In case of selling-
– Preparation of power of attorney and deed
– Proper review of the sales agreement
– Proper dealing with the title issues
– Proper arrangement of transfer of security deposit
– Need for arrangement of insurance certificates.
A legal fee is paid to the Real Estate Attorney for the services rendered by him.

Answer 3-
Proper consultation from the attorney is required to be obtained before signing the contract of purchase. This contract is a legal document that will bind both seller and buyer. Attorney examine the records in order to ensure that the person is exactly buying what he wants and the property is free from claims, liens and easement. After going through the records, the attorney will report what his search of the records disclosed. Application for the title insurance will be given by an attorney. He presides over the closing and record the deed and mortgage. With the help of attorney, the complicated procedure is carried out in a pleasant manner.

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