Whether you are buying or selling a property, hiring a real estate lawyer is a smart idea.
Here are five good reasons toget legal counsel during a real estate transaction.
YOU’RE A FIRST-TIME BUYER Even if you have ample experience with the real estate market, hiring a lawyer is still worthwhile. However, if this is your first time buying or selling property, it is especially important that you have a lawyer to guide and advise you. They will help you navigate complicated paperwork and ensure that you understand the finer details of your transaction. PROTECT YOUR INTERESTS Your lawyer will protect your interests. They will review all documents involved in the transaction and make sure that you understand the terms of your contract. They will also bring any potential concerns to your attention. RISK MITIGATION Buying any property has some degree of risk, but a lawyer can help mitigate this. It is recommended that you hire a lawyer early on in the process, so that they can help you avoid getting caught in an undesirable situation such as the seller not adhering to the terms of the sales contract. MANAGE DIFFICULT SITUATIONS A lawyer can provide you with valuable guidance and insight in any kind of real estate transaction. However, there are some situations where hiring a lawyer is a necessity. For example, when dealing with property that has significant issues, like outstanding liens or mortgages, or when attempting to sell property that you co-own with a reluctant party. In complicated situations like these, a lawyer can make all the difference. GAIN PEACE OF MIND Buying or selling property can be overwhelming. A lawyer can ease some of your stress by ensuring that all legal documents are filed and by guaranteeing that the transaction is carried out in accordance with the real estate laws in your area. They will take on a variety of responsibilities throughout the process, such as making sure there are no claims listed against a property you intend to purchase or preparing the deed to a house you are planning on selling. Whatever your situation, the advice, and assistance of your lawyer will help make the entire process more manageable. LAWYERS IN NEWFOUNDLAND If you’re buying or selling residential or commercial property, our real estate lawyers at Gittens & Associates have the knowledge and experience necessary to support you. Contact us today to book a consultation or to learn more about the services we offer.