Real Estate law is a general term for all of the laws and regulations that affect real estate transactions. All real estate transactions, including commercial real estate and residential real estate, are governed by many federal statutes and state laws. An attorney can help a buyer or seller with understanding the various parts of the real estate deal from coming to a contract to the closing. An attorney can assist the buyer, the seller or even the title company to make sure that all components of the real estate transaction are according to the various federal and state laws.
Why hire an attorney for real estate?
Most people use a real estate agent or a Realtor® to help them in the buying or selling process. It can also be beneficial to hire an attorney to ensure that the listing agreement is correct according to law and that other aspects of the real estate transaction go smoothly. Issues sometimes arise during the contract process that even the best real estate agent might not be equipped to answer because the questions are of a legal nature outside the standard real estate transaction. This is especially true in situations when the property might be bank owned, in foreclosure or in a short sale. Real estate agents are paid on commission as part of the closing costs, but legal fees are additional and usually by the hour or on a per-service basis.
Some sellers prefer to sell their property without a real estate agent in a process called “For Sale By Owner,” sometimes referred to as a FSBO. People trying to sell their home without the help of a real estate agent are advised to hire an attorney to make sure that all laws are followed and that the seller’s interests are protected. The added expense of hiring an attorney could easily save this kind of seller money by making sure the selling process is completed correctly and all real estate laws are followed.
The experienced real estate attorneys at McManus Law Firm can:
- Help evaluate complicated listing agreements with a variety of conditions or addendums
- Act as an escrow agent to hold the down payment or other escrowed funds to be distributed after closing
- Evaluate complex mortgages or leases with options to buy
- Review commercial real estate or residential real estate contracts
- Handle the closing process
- Advise sellers of what the law requires to be disclosed to buyers prior to a sale
- Assist with avoiding discrimination against any potential buyers
- Look out for the client’s best interests in the real estate transaction
- Draft complex leases and real estate sales contracts
McManus Law Firm provides clients with the peace of mind of knowing that someone is guiding them through the process of selling their home and is looking out for their best interests.
Contact our office today for a free consultation to determine how our services can benefit you during your real estate transaction.