Why Seek Legal Advice When Buying Or Selling Property

When buying or selling property don’t rely on friends or family members to give you accurate legal advice. Always get independent legal advice when buying or selling a property. Your real estate attorney should be able to guide you safely through a minefield of legal bits and pieces. He or she will help with the intricacies of writing a contract. A real estate attorney can explain the implications of certain clauses and why each clause is necessary.

Your legal attorney will show you the correct way to write a contract so as to protect your rights as the buyer or seller. He or she will hopefully ensure that any such contract is as “water-tight” as it possibly without scaring off the other party in the transaction. After all, you don’t want the buyer or seller reneging on the contract – you want the property deal to proceed!

Your legal advisor will also be able to inform you of specific laws or requirements relating to the state or country where you live. For example, in most states in the USA, Title Companies close most real estate transactions. A Title Company can be an excellent resource for handling the mechanical aspects of closing real estate transactions. However, as I understand it, Title Companies cannot give legal advice to either a buyer or a seller.

Most Title Companies will employ the services of a real estate attorney who you should speak with. The title company can generally handle the rest of the transaction, but a real estate attorney is the only one who you should be getting legal advice from.

As I said earlier, the legal aspects and ramifications of a real estate transaction can be a minefield for the unwary. Don’t skimp on getting competent legal advice. ALWAYS, ALWAYS, ALWAYS use a real estate attorney.

Read how a Real Estate Attorney can guide you through a mine field of legal traps when buying or selling property.