Buying and selling a property can sometimes be harder than other times you have bought or sold a property. That is the time when hiring a real estate lawyer is a good idea.
In general, it’s a good idea to hire a real estate lawyer if the transaction is going to be anything out of the ordinary. Below we are going to look at the times when hiring a real estate lawyer is a good idea for buyers and sellers.
For Buyers
Buying a house or property? Here are some situations that may be easier with a lawyer specializing in real estate.
- You’re a buyer from out of town
- You’re purchasing a place that’s bank-owned or short sale
- The property’s in someone’s estate sale
- The property is commercial
- There may be structural issues in the property you’re buying
- The property you’re buying is in an area with adverse conditions such as prone to tornados, flooding, etc.
For Sellers
When you are selling, there are just sometimes when having a lawyer to advise you is the transaction is advisable.
- The property you’re selling is somewhat in distress
- You’re the executor or heir of someplace where the owner’s decreased
- Your partner is uncooperative and you’re selling your house
- The property has liens or judgements
- You think something is going to go wrong based on information that you know about your property.
You may feel like you don’t need a real estate lawyer, but when in doubt, it’s best to consult with one. Otherwise things can get sticky and problematic pretty fast.
