Written by Guest Bloggers, the experienced realtors at Gloria Nilson Real Estate Co.
A real estate transaction is a complex process involving multiple parties, a number of legally binding contracts, and literally dozens of potential costly pitfalls. But real estate transactions are critical to achieving home ownership, business expansion, and investing in real estate, and many people choose to get involved in real estate in some capacity. When large quantities of money are exchanged for real property, it never hurts to have an experienced real estate lawyer working with you through the whole process to make sure that the transaction goes smoothly and to help protect buyers and sellers from exposure to risk in the future. Legal guidance early in the process can help avoid problems and reduce risk while improving the overall quality of the transaction.
Sometimes You Need a Real Estate Lawyer
When it comes to conducting real estate transactions, sometimes it is a good idea to have a real estate lawyer working by your side as you structure and close on the deal. Real estate transactions typically involve a lot of money changing hands, and it makes good sense to work with an experienced real estate attorney to ensure that you avoid potential pitfalls in your transaction and don’t make any costly mistakes or omissions. A real estate lawyer can help with all kinds of property transactions – residential, commercial, agricultural, or industrial. Many successful real estate transactions are the result of utilizing legal counsel who specializes in real estate matters.
Lawyers Can Do Certain Things That Real Estate Agents Cannot
There are a number of legal issues involved in real estate transactions, and a real estate lawyer is the person who is best suited to handle these matters. For instance, there are a number of different contracts involved in real estate transactions. The purchase agreement, the brokerage agreement, and financing or mortgage agreements are all legally binding contracts that are very common in real estate transactions. A real estate lawyer can prepare, negotiate, and review these various agreements with the focus of ensuring that these agreements are fair and reasonable and that they do not omit any important legal provisions.
Another thing that a real estate lawyer can do above and beyond a realtor is provide certain legal advice regarding particular aspects of a prospective real estate transaction, such as the tax consequences or liability issues associated with the transaction. A real estate lawyer can also offer insight into matters concerning zoning, deeds, restrictions, and easements on the property.
One of the unfortunate aspects of some real estate transactions is that legal disputes can arise. One party to the transaction might not hold up their end of the deal, or might dispute who is liable for certain costs associated with a deal, such as brokerage costs, closing costs, or taxes. A realtor cannot help if buyers or sellers become embroiled in a real estate litigation. Only an experienced real estate lawyer is equipped with the skills and knowledge it takes to represent buyers or sellers in a real estate dispute.
If you are thinking about buying a home, or selling a home, in New Jersey, you should speak to a qualified real estate lawyer. Joel R. Spivack, Esq., is an experienced real estate attorney who can assist you throughout the home buying or home selling process. Contact Mr. Spivack anytime to schedule a free consultation.
