When Should You Hire a Real Estate Lawyer?
Real estate transactions can be extremely complex and difficult to navigate. As one of the largest transactions of your life, there will be many elements and considerations to keep track of and account for to ensure that the transaction proceeds smoothly. To ensure that every element of your transaction is completed properly, it is worth hiring a real estate lawyer. That is why the team at Linley Welwood has compiled some information to help you understand when you should hire a real estate lawyer and some examples of situations where their services can be invaluable.
Learn about some important questions to ask before hiring a real estate lawyer.
When to Hire a Real Estate Lawyer
It is always worth having a real estate lawyer on your side during the following situations:
Selling Your Home Without a Realtor
You should always consider contacting a real estate lawyer before listing your home as “for sale by owner” to ensure that they have the information they need to review any purchase offers you receive from potential buyers. Having a real estate lawyer review all purchase offers will ensure that anything agreed upon is fully reflected in the signed purchase contract.
Find out what a real estate lawyer does at closing.
Dealing with Problems After the Sale
If you have purchased a home and are now encountering problems that were not disclosed to you by the seller, a real estate lawyer can help you determine if these undisclosed problems are a matter of legal liability. The seller failing to disclose information that impacts the overall value of the home can often mean that the buyer is eligible for compensation – though this varies on a case-by-case basis.
Learn all about the different types of real estate.
Transaction Disputes or Litigation
Purchasing a residential property may not require a real estate lawyer at the beginning of the transaction, but one may become necessary if litigation or disputes arise. Disputes between the buying and selling parties regarding the property, easement, or misrepresentation in documents can require the services of a real estate lawyer. The attorney can review, negotiate, or draft amendments to ensure your rights are upheld and the purchase is fair.
Should you hire a lawyer when buying a home?
Complex Commercial Real Estate Transactions
Commercial real estate transactions are often more complex than standard residential transactions. The protections afforded to sellers, buyers, and tenants in the commercial real estate market tend to be much less than those in the residential real estate market. That is why it is worth having an expert real estate lawyer review any leases or potential agreements to ensure that there are no surprises in your contract.
To learn more about how a real estate lawyer can help with your transaction, reach out to the team at Linley Welwood. We can be reached by phone at 604-850-6640 or through our online contact form and will be happy to answer any questions you may have.