Many buyers and sellers of real estate choose to work exclusively with their real estate agent for the majority of the negotiation process, even all the way until the point of closing. This is often a mistake, as a South Florida real estate lawyer is best suited to offer you advice during real estate contract negotiations. A South Florida real estate lawyer will be able to foresee potential issues with your contract that a realtor may overlook. There is also no situation where a realtor should be offering you legal advice, and if legal questions pop up during negotiations you need to rely on the advice of a lawyer to ensure that you are getting accurate advice.
If you decide to work with your realtor for most of the contract negotiations, at the very least you should strongly consider hiring an attorney prior to signing the agreement, as a South Florida real estate lawyer will thoroughly look over the agreement and make sure that it is favorable to you. You might be tempted to work exclusively with your realtor as a way to save money, but consider the fact that your real estate purchase is not the type of purchase where you want to take any chances on a potential problem down the road. Future real estate problems often end up being very costly.
It’s almost always a good idea to have a South Florida real estate lawyer in your corner no matter what type of real estate transaction you are negotiating. In scenarios where the transaction is complicated or exposes you to additional liability such as the purchase or sale of distressed properties, commercial properties, properties in another city, and properties with structural problems, you should hire a South Florida real estate lawyer who you can rely on to negotiate a fair contract with recourses if something goes wrong in the future.
In For Sale by Owner (FSBO) situations, the seller should almost always hire a South Florida real estate lawyer to negotiate and draft the purchase contract, as most sellers will not have the legal knowledge needed to draft what may end up being a complicated agreement. Sellers who are selling a short sale property will also benefit from having a South Florida real estate lawyer available to negotiate with the bank and release them from personal liability for the remaining balance on the loan. Any other type of liability in real estate agreements can always be mitigated or eliminated with the skill of an experienced South Florida real estate lawyer, but if you choose to forgo hiring one during negotiations you are excluding yourself from that protection.
The experienced South Florida real estate lawyers at Schecter Law can advise you throughout any type of real property negotiation that you might be involved in. Contact a skilled real estate attorney at Schecter Law today to schedule a consultation.