There are a lot of important decisions that come with any real estate transaction, after you decide on a real estate agent next you should begin looking into real estate attorneys.
Notice that I did not say "attorney", there is a saying and it is "You can only do one job well" and that goes for attorneys as well! Their are many areas of law that an attorney can go into divorce, elder law, criminal, family ect. for any real estate transaction you want to use a real estate attorney.
There are 3 circumstances that you absolutely, positively must use a real estate attorney:
- Cash Deals: These deals can be tricky because they have very specific terms as far as what is being represented and your closing date. The perk of these deals are that they move very quickly so you will want to make sure your attorney moves at the same pace, which only a real estate attorney will understand.
- Short Sale/Foreclosure: Banks are hard to deal with, and in this case it is who you are not only buying your house from, but it also who is financing your loan. There must be a direct line of communication to all parties, in a timely manner and with someone who is well versed in what is or is not to be expected.
- Estate Sales: This is where it gets tricky because there is usually more than one seller, it usually involves family members who may not be aware of what the condition of the house is and what was not legally or not. There are potential title complications from how the home is deeded or how many beneficiaries there might be. You will want to have the real estate attorney also have open communication with the attorney who did the estate filing as well.
I happen to be very lucky and work for a company that our clients experience is top priority. We have had our clients refer us the attorneys that they felt gave them the best representation in their transactions. Our company also knows that keeping the agents up to date and informed is also important so we have attorneys come in to keep us educated and answers any question we may have, which of course helps us better represent our clients.
There are of course plenty of real estate transactions that have not involved a real estate attorney, and have gone to closing with no issues. In my opinion whether your buying or selling it is an important process and you would want it to go as smoothly as possible, so using a real estate attorney will be your best option.
For some examples of what can happen during a real estate transaction please refer to the full blog here.
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