No matter how well-versed you in closing a property deal, it is still possible for you to overlook some details. After all, you may not know everything about the ins and outs of property law. Unless you have a law degree, it is advisable that you’re represented by an impartial party for your best interest. Here are reasons, according to Denver’s most trusted real estate attorney:
An attorney could draw up a contract and prepare the necessary documentation for you. Your agent can produce the documentation and contract to finalize the sale of your property. A real estate lawyer can also do it on your behalf. Plus, they can underwrite title insurance policies and an HUD-1A Settlement Statement.
An attorney can clarify any nuances or legalese that you don’t understand. Real estate lawyers are akin to insurance. They prevent you from agreeing to any conditions of the sale that may be detrimental to you. They can help you spot any loopholes or gray areas in the contract that may cause a problem for you in the future. For example, you’re the buyer and the house you’re purchasing comes with a tenant. Or, the seller wants you to acknowledge that they are transferring the responsibility of handling any issue that might arise from their negligence of the property that they’re selling.
An attorney could facilitate the transfer of payment for your property. If in any case you simply don’t have the time to meet your buyer, seller or agent, your real estate attorney could receive the payment on your behalf. It also makes sense to have your legal representative process the payment. This will prevent any misdealing.
Selling your home or commercial property? Enlist the services of a real estate attorney to oversee your business deal.