For many, purchasing a residence is among the most significant financial decisions of their lifetime, and with that comes a great amount of stress and anxiety. Similarly, commercial real estate transactions typically represent very substantial transfers of resources, even in the eyes of industry veterans.
Deals of this nature almost always involve mortgage bankers, realtors, appraisal professionals as well as inspectors, making the process one that can be fraught with uncertainty and questions. With all of that to juggle, lots of prospective buyers and sellers also wonder if they should also consider hiring a real estate lawyer. The fact is that making the decision to do so can prove surprisingly helpful and also beneficial to each party’s bottom line.
Determining Whether to Hire a Real Estate Lawyer
In order to assess whether a real estate lawyer is needed in a particular transaction, it is necessary to first understand exactly what such a professional does. A skilled real estate attorney can actually perform many functions, including helping identify desirable properties, negotiating with sellers, reviewing and drafting contract terms, arranging financing and facilitating the closing process.
Situations in which it is especially wise to seek the assistance of a real estate lawyer include:
- Buying a home or commercial property in a new locale
- The targeted property is suspected of having damage or structural concerns
- The property is bank-owned
- The real estate is situated in a flood plain or area known for severe weather events
Property sellers can also frequently benefit from the expertise offered by a seasoned real estate lawyer, particularly if they:
- Are handling a property sale for a relative who has died
- Are selling a property with known structural concerns
- Have been plagued by debt-induced liens on the property
Protecting the Interests of Buyers and Sellers
While there is no legal requirement in Florida that the parties to a real estate transaction be represented by an attorney, having such an advocate is often the best way to safeguard your interests, regardless of which side of the deal you sit. Real estate agents, mortgage brokers and title insurance company representatives are unable to offer legal advice during transactions, even though the matters they oversee may produce significant legal ramifications to buyers as well as sellers.
For all of these reasons, it makes good sense to enlist the assistance of an experienced Fort Lauderdale real estate lawyer who can wade through the legal jargon, get to the heart of critical issues and ensure that your interests are fully protected throughout the entire property transaction process.
Fort Lauderdale real estate lawyer Mark Schecter has the in-depth real estate transactional knowledge Florida residents need when preparing buy or sell property within the state. To gain the benefits of this experience, contact Schecter Law today for your initial consultation.