Whether you are buying or selling a house for the first time, or are a repeat seller, a real estate lawyer can help you through the process and make sure your best interests are followed. At Minhas Lawyers, we understand the importance of a real estate lawyer to guide you through documents, transactions, and insurance processes.
What Does A Real Estate Lawyer Do?
A Real Estate Lawyer is experienced in all aspects of a home sale and purchase process. The lawyer can represent both sellers and buyers and is licensed to practice law in real estate transactions.
When Would You Need A Real Estate Lawyer?
There are a few situations where a Real Estate Lawyer would be required. The two most common situations are:
- Preparing Purchase Contracts: using a real estate lawyer to review a purchase contract is a good idea, and if the contract is complex it would be better to have a lawyer do it. Give the lawyer a few days to do the review. A lawyer will point out any prospective problems that may arise by looking over this important sale document. Your real estate lawyer will make sure the timing for closing, inspection details, and title insurance is protected from any future issues.
- Closing a Sale or Purchase: The closing of a home sale involves several documents to review. Lawyers can easily understand the documents and save the homebuyer a lot of time and stress by reviewing the closing documents.
Other Situations where a Real Estate Lawyer would be Beneficial
There are other situations where you would benefit from having a real estate lawyer.
- Trying to sell a home with liens
- Buying a house in another province or state
- Property has major damage or other structural issues
- Selling a house that is involved in a divorce settlement
- You are in charge of the estate and are selling a family member’s home.
Benefits of Having a Real Estate Lawyer while Selling your Home
When you have a Real Estate Lawyer, you will know all terms and conditions have been reviewed properly in the purchase and sale contract. You will receive advice from an experienced and professional person. The lawyer will be able to tell you if the home inspection, financing, and other matters are favorable. The legal documents for your mortgage and land registry will be handled by your lawyer, and any complications are avoided since the lawyer will make sure all transactions are done by the deadline.
Most lawyers have no problem working with your Realtor or Mortgage advisor.
Why Hire a Real Estate Lawyer?
When you have a real estate lawyer, there will be a third party who can look over contacts and represent your interest through the process. Lawyers can also negotiate issues to prevent any major problems and save you money in the future. You will have peace of mind when you have a real estate lawyer, even if you don’t need one. It can benefit you to have someone who can understand the complex wording in documents and make sure you are proceeding properly.
When buying or selling a house, it always helps to have professional advice to make things go smoothly. If you are unsure if your situation calls for a Real Estate lawyer, contact Minhas Lawyers today. We can discuss your needs and see what a Real Estate lawyer can do for you.
Minhas Lawyers LLP is a multi-practice law firm based in Mississauga. We advise and represent clients across various segments and practice areas.
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