KEY WEST, Fla.
- Dec. 16, 2022
-- Per Gary McAdams, second-generation Florida Realtor since 2001.Your guild to everything Real Estate.
When to use a lawyer for a real estate closing? It's an often-asked question, particularly when there are obvious legal implications. Unfortunately, not everybody recognizes when it's most advisable to have an attorney conduct a real estate closing. So, here are some of the most common scenarios when a lawyer should perform a real estate closing:
- You're buying or selling an estate home. If it's an inherited home and part of an estate, there are bound to be legal issues to both determine and work through. In an estate property, there are bound to be legal issues and it's best to have a lawyer present to address said issues.
- The property is deemed to be mixed-use. If the property is zoned for both residential and commercial purposes, it's highly advisable to have an experienced real estate lawyer conduct the closing to address all legal matters involved.
- The property being bought is new construction. Although new construction is one of the best ways to get a customized house, it's also one that comes with the very real possibility of a number of legal issues. If you're buying new construction, do yourself a favor and have an attorney conduct the closing. Builders don't always follow all legal requirements and you should also have someone go over the warranties.
- There are contractual issues between the parties. This one seems obvious, though people often think that hiring an attorney will be too costly and therefore do not have a lawyer involved. This is a huge mistake because those legal issues won't go away and will likely become more time-consuming and costly to address as time goes by. If there is any hint of legal trouble, have an attorney conduct the closing and due diligence beforehand.
As you can plainly see, there are definitely some scenarios in which an attorney is a smart choice for processing a real estate closing. Be sure to speak with an experienced warrior before you commit to buying or selling in order to avoid any legal trouble.
For help or questions about Lower Keys Real Estate please see: https://realtorgary.com/