Protect Your Interests With the Right Real Estate Legal Professionals
Real Estate can be a very complicated field for the uninitiated. Considering the sums of money that are being moved during a transaction, no one wants to become entangled in a financial catastrophe.
The best way for a person to look out for themselves is by engaging the services of experienced professionals.
The legal field can be filled with minefields. There’s a reason it’s so difficult to become a lawyer. There’s so many fields of law. This means that most lawyers will specialize in a specific field. A master in one field is far more useful than a layman in many when it comes to law. Real estate law professionals should be consulted regardless of what type of transaction you are performing. Whether you are a buyer, a seller, a renter or a tenant, you can make use of a real estate professional.
Most Common Types of Real Estate Legal Professionals
There are several types of people who work in the real estate field. The following are the most common and popularly used professionals that are called upon:
Residential Real Estate Lawyer
These lawyers are well practiced in personal purchase and the laws for homes and farms. There can be many disputes that arise over residential property, and a proper real estate lawyer is there to help out.
Real estate lawyers are perfect to assist during times of dispute. When buying a parcel of land, there’s the potential for people to argue that it is improperly surveyed, or was illegally sold. A residential real estate lawyer can take care of both of those issues.
There’s not many disadvantages to using a residential real estate lawyer. There may be times when they aren’t necessary, but are used. Those can result in some extra expenses. However, it’s better to have the resource and not use it, than not have it when you need it.
Commercial Real Estate Lawyer
While some lawyers will dabble in both sides, it often makes more sense for them to specialize their knowledge. This has led some lawyers to focus on the different aspects of commercial real estate law. Commercial real estate law can actually vary by region, and therefore a local lawyer is the best. They know the laws of the region and are always up to date when things change. There are different types of commercial leases out there, and a real estate lawyer will ensure their client is getting the correct.
However, in addition to purchasing or selling commercial land, a commercial real estate lawyer will be able to assist with the formation of the business. Many of these lawyers will be able to assist in securing a starting loan with a bank, setting up the structure of the business and securing lines of credit.
The final safety of a commercial real estate lawyer is that they are able to assist their client and represent them in court if the need arises. There are many people out there looking to find a way to file a lawsuit regardless of the accuracy. Having a commercial lawyer in reserve can ensure that your company doesn’t suffer from undesirable legal attacks.
Real Estate Agent
While they may not have gone to law school, a skilled real estate agent is a great choice to assist in some legal matters. These real estate agents spend all of their time helping people find the right properties for their needs. They become with the legal aspects of these sales.
The downside to using a real estate agent for all legal matters is that they may not be fully aware on the laws. While they may know about a law, they may not understand the full implications or consequences of breaching a law. There’s also some real estate agents that may just be looking to make as many sales as possible, and not give full thought to the legal aspects of a sale.
Additional Important Facts to Know
- Commercial real estate law is often more complicated than residential real estate law.
- Real estate lawyers can help with more than merely with purchasing.
- Real estate lawyers are especially important for landlords and tenants. This dynamic can be very tricky, and each needs to know their responsibilities.
- Not all pieces of land can be used for anything the owner desires. Real estate lawyers can assist in getting land zoned for different types of buildings.
- State laws vary. It’s best to use a lawyer in the state where land is being purchased, rather than one you are based in.