Archive for September, 2017

September 21st, 2017

Why You Need An Experienced Real Estate Lawyer

There can be many reasons why you might need an experienced real estate lawyer. For example, one of the most common reasons people turn to this type of legal expert is when they are buying or selling the property. Other times when a real estate lawyer is needed can include problems with adverse possession, partitioning of property that is owned jointly, neighbor disputes, and homeowner association problems.

Whether you’re buying or selling a home, a real estate lawyer is an important part of the business transaction. Your real estate lawyer, whether you’re the buyer or the seller, will be able to draft contracts, provide legal advice regarding the content of the contracts, and ensure that all laws are adhered to in legal documents as well as in the conduct of the parties involved in the transaction.

For example, there are required disclosures that must be made during the sale of any real estate. One of these disclosures has to do with lead-based paint. If you are selling a home that was built before 1978, federal law has very clear disclosures that you must make, including the disclosure of any known lead-based paint used in the home as well as the specific wording in the contract, and signed statements verifying all requirements have been met. This must be done even if you have no knowledge of lead-based paint in the home.

Each state has their own laws regarding what must be disclosed as well as how those disclosures must be made. Typically, there are special forms that must be used for specific disclosures. Additionally, as a property seller, you’ll need to ensure that you have some type of verification from the buyer that all disclosures were given to them. If you don’t have proof of providing the right disclosures with the correct wording or on the right form, you can risk serious legal trouble if a buyer comes back to sue you.

While there are probably many areas of a real estate transaction that you can handle on your own, hiring an experienced real estate lawyer will be money well spent. You’ll have the legal expertise you need in order to ensure that all contracts are handled properly. Additionally, your lawyer will be able to make sure that your rights are protected.