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What is a real estate attorney's role in a property transaction?

Picture of Chris Battis By   ·  1 minute read

A Real Estate Attorney and Their Importance

A real estate attorney plays an important role in property transactions by providing legal guidance and assistance in various areas related to real estate law.

The attorney's role may vary depending on the specific nature of the transaction, but some common tasks that a real estate attorney may undertake include:

  1. Property title search: The attorney may conduct a title search to determine the ownership history of the property, any liens or encumbrances on it, and any other legal issues that may affect the transaction.
  2. Drafting and reviewing contracts and agreements: A real estate attorney may draft and review purchase agreements, lease agreements, mortgage agreements, and other legal documents related to the transaction.
  3. Negotiation and due diligence: Real estate attorneys can assist in negotiating the terms of the transaction with the other party or parties involved in the deal. They may also conduct due diligence to investigate the property's condition and financial status, as well as analyze the deal's potential risks and benefits.
  4. Closing of the transaction: The attorney will coordinate the closing of the transaction by ensuring that all necessary legal documents are executed and recorded properly.
  5. Representation in real estate disputes: Should any disputes arise during or after the transaction, a real estate attorney can represent their client in legal proceedings to resolve the matter.

Limitations: It is important to note that a real estate attorney's role may be limited to the specific legal matters covered by their legal representation agreement. Additionally, it is the responsibility of the client to ensure that all necessary steps are taken to comply with applicable laws and regulations.

If further action is necessary: If any legal issues arise during the transaction, it is recommended that the client consult with their attorney to determine the appropriate course of action. This may include amending contractual terms or seeking legal resolution of disputes.