REAL ESTATE LAWYER: WHAT ROLE THEY PLAY

When it comes to the purchasing of a property, rental or selling of a property, real estate lawyers are one of the most important people you’ll want work with. A real estate lawyer can also be referred to as a notary. The real estate lawyer’s main objective is ensuring that transactions of a property go smoothly by filing the right paper work, and ensuring the rights of their clients are protected.

RESPONSIBILITIES OF A REAL ESTATE LAWYER

During the process of acquiring a property, your first priority should be to work along side a real estate lawyer. Your lawyer’s objective is to; conduct a title search of the property, obtain a title insurance, register the property in the name of the client, provide Statement of Adjustments and also ensure transactions go on smoothly. 

 

 

When you want to sell a house, a real estate lawyer will ensure there are no problems with the property by conducting a title search. The real estate agent also drafts a deed for the buyer as well as calculating the closing cost the buyer incurs and drafts a Statement of Adjustment for the buyer of the property. On the day of closing the deal, the real estate lawyer will ensure the financial transaction goes well. Unlike the real estate agent, the roles of a real estate lawyer in a property transaction are endless. 

WHEN SHOULD YOU REQUIRE THE SERVICE OF A REAL ESTATE LAWYER?

For both property buyers and sellers, the best time to employ the services of a real estate lawyer is as soon as you are ready to sign an offer to purchase or sell a property. The offer is a legal document which means that, it is very important for a real estate lawyer to review any contract before final decisions are made. This is important because it will cost you a lot more money if the contract is ever broken.

CHARACTERISTICS OF A GOOD REAL ESTATE LAWYER

• Real estate lawyers specialise in real estate law and therefore qualified to give the best legal counsel.
• Real estate lawyer fees are quite competitive since their services are highly demanded.
• Real estate lawyers have a lot of experience in property law therefore they have a vast knowledge and experience with any type of property you are looking at
• Real estate lawyers al
  so make it a point to know a lot about the areas they work in.

It’s always best to seek reference from previous clients a real estate agent might have worked with and also asking about their level of experience before employing their services.

THE DIFFERENCE BETWEEN A TITLE REGISTRATION AND A TITLE INSURANCE

A title registration can simply be defined as the process of switching the name on the property title from seller to buyer. Title insurance is created to protect you from ever liable if there is ever any defect in the title.