Underscoring the Importance of Real Estate Attorneys

Jan. 18, 2011 - PRLog -- We Buy Houses Fast - Manassas VA: You cannot sell a house without the help of a real estate attorney. In many state, it is something mandated by law, while in others, sellers need someone to oversee the closing of the sale, and to ascertain that both parties have stuck to their word. You need to set aside a little money to cater to the lawyers fees, but in most cases, it hardly goes over the thousand dollar mark.

Besides overseeing the final transaction, real estate lawyers helps deal with some specifics of ownership transfer. For instance, a seller may have had a stove or a fridge that they bought, and would like to take it with them as they leave. But the buyer may want it since that fridge was not left out in the listing price. The negotiation of such chattels is done by the lawyer who hears listens to the seller and the buyer’s side, and helps them reach a conclusion.

Real estate attorneys also help create the agreement for the parties to sign. This agreement concerns the house, and it is supposed to reflect the fact that the seller accepted to transfer the deed to the buyer, and that they buyer, closed the deal, and transferred the money into the ownership of the seller. This agreement is then filed with the necessary authorities and a copy is given to each of the involved parties for proof. This is a legal requirement in most places.

Some lawyers, before accepting to take on clients, request that their properties are inspected and verified as good enough to sell. This is to eliminate any liability problems that may come up in future. A faulty roof that goes unmentioned may come back to haunt not only the seller, but their real estate attorney as well. An inspection carried out in a timely fashion helps the real estate lawyer oversee the transfer of a home in good condition. Should the house be sold ‘as is’ this needs to be specified in the agreement, and both parties have to attest to this.

In terms of the fee, a real estate attorney is cheaper to hire than a real estate agent. The only thing you have to keep in mind is that the lawyer is not commission based. So if you hire them and fail to make the sale, you will still need to pay them, unlike a real estate agent.

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