There are attorneys who practice in different areas of law. Some handle a broad range of practice areas, while others choose to stick to a specialty niche. A real estate lawyer of Atlanta handles real estate transactions and all that it entails. Learn more about what is allowed in the daily tasks of a real estate attorney.
What does a real estate attorney do?
Real estate lawyers have a great deal of knowledge when it comes to litigation of real estate disputes as well as the handling legal requirements during the transfer of property for sales and purchase. They know many of the ins and outs of mortgage fraud, disclosure fraud, and laws concerning subdivision, zoning, and land use. Sellers and buyers of real estate property hire such attorneys to help make receiving and transferring property an easier process.
How a Real Estate Attorney Benefits You
When you hire a real estate attorney, it can help immensely by reducing the amount of stress you endure. Buying or selling a house or dealing with other legal matters related to real estate property, often can mean a big headache. Yes, it is an expense that many people would rather avoid, but it’s well worthwhile in the long run if you have a complicated matter. It isn’t easy to transfer property, and you would not want to go it alone if you have no legal background or enough knowledge of how to do so.
Here are some tasks that are under the umbrella of a real estate attorney’s responsibilities.
An experienced real estate attorney has connections to agents, inspectors, mortgage brokers, and other individuals and agencies to assist in your transactions. This way, you won’t have to expend the time and energy to look for these professionals on your own.
The Review of Title Documents
Real estate lawyers search for title documents, which are documents that define legal ownership of a property or other type of asset. They’ll also review the document so that the transfer of property goes smoothly. It’s important to make sure that there are no judgments, liens, or other legal issues with the title. The real estate attorney recognizes the three key components of any title document: legal ownership, possession, and occupation. These lawyers have a connection with title search companies so that they can resolve outstanding issues before the sale of the house so that it is sold legally.
Preparing a Sales and Purchase Agreement
An attorney prepares this document ensures that legal requirements are met. It’s a form of a contract that obligates the buyer to buy the property and that the seller sells the property. It’s an agreement that’s associated with all kinds of real estate transactions to protect the interests of the buyer and seller.
Preparing of Mortgage Documents
A real estate attorney helps with preparing mortgage documents. The mortgage is an agreement to pay back a loan on a property. The attorney will explain the terms and conditions of the mortgage and will reach out to lenders if necessary. Since many homeowners aren’t familiar with how mortgages work, it falls on the responsibilities of a lawyer to discuss the details of what’s expected and about the process.
Working with Other Contracts
Buyers and sellers must have a certain understanding of any contracts that they are about to sign. After all, they are legally binding, and it would do no good to enter into a contract if you aren’t sure of every aspect of it. A real estate lawyer can look over the document and clarify things that are difficult to understand. They also will ensure that the contracts adhere to state laws. You wouldn’t want to have any issues with the future use of the property once it’s in your possession. They also will take any necessary steps if they notice any parts of the contract that should be changed.
Working with the Filings Process
One of the most important parts of buying or selling a property is filing. The attorney will perform the real estate deeds that will need to be filed by the state. They’ll determine during this process if certain things cannot be done, such as certain types of construction on the property. If the property is to be used for commercial purposes, there are several other steps to conduct.
Processing the Property Transfer
Once the contract is prepared, the parties can transfer property. This is done in compliance with state law and the real estate attorney must manage this transfer according to specific terms. They’ll prepare any documents that are associated with this step.
Acquiring Title Insurance
The homeowners need to buy the title insurance before the closing is completed. The real estate lawyer searches for this insurance and then reviews any related documents for the buyer. This mostly consists of checking for mistakes. They’ll also review tax issues and talk to you about this process.
Conducting the Closing
During the closing, both parties sign documents regarding the buying and selling of the property. The attorney makes sure that the buyer knows what the documents mean before they sign. This is when they officially transfer real estate property.
It’s in your best interest to find a top-notch real estate attorney who will ensure your rights are fully protected in a real estate matter. When you have a quality attorney on your side you will be confident that your needs are met and that you can buy or sell property without any issues.