Real Estate Attorney
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REAL ESTATE LAW
Although they are not required at every transaction, a homebuyer may benefit by hiring one to help make sure there are no hiccups through the process. Some states even require buyers to hire a real estate attorney, so it's best to verify with your realtor if you need one. After all, it is an added expense that you have to cover. Most realtors who specialize in real estate law charge by the hour for their services, while others get paid a flat fee based on the transaction.
Keep in mind that having someone who is experienced with the law on your side may help you avoid any legal problems that can cause delays to your closing, and save you money in the long run.
Real estate attorneys are professionals who specialize in and apply their legal skills to matters related to real property.
A real estate lawyer prepares and reviews purchase agreements, mortgage documents, title documents, and transfer documents.
Some states require buyers to have a real estate lawyer present at every transaction.
Real estate law oversees the purchase and sale of real property—that is, of land and anything attached to it such as buildings or other structures. It also includes anything that comes with a property such as appliances or fixtures. This type of law has nothing to do with personal property or someone's personal possessions, and only with real property.
This branch of the legal system, therefore, ensures the proper procedures surrounding the acquisition of property, as well as what people can do with that property. Real estate law also factors in things like deeds, property taxes, estate planning, zoning, and titles.
Real estate law varies by state, making it state law. So attorneys must be licensed to practice in their state and must be up to date on any of the changes that affect transactions that happen locally or in their state.
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