If you inherit or plan to own or invest in real estate in Vancouver, there is a good chance you will ultimately need the services of a real estate lawyer. Real estate lawyers have licensed professionals who specialize in real estate laws and can provide you with legal advice, represent your interest in a property transaction and help with a real estate transaction.
During a real estate deal, it is quite common for both buyers and sellers to hire an attorney to represent their interests. In addition, real estate attorneys also provide contracts, handle the deed transfer, conduct closings, and much more.
What Does a Real Estate Lawyer Do for You?
Real estate attorneys can represent homeowners throughout the entire process of their home buying or selling, not just during closing. Real estate law firms will help you navigate the language and terms of the transaction, provide legal counsel, and negotiate the inspection.
They can also deal with other parties on your behalf if financing issues materialize at the last minute or they require changes. A real estate lawyer will also ensure you understand all the details in the closing documents before you close.
When Do you Need a Real Estate Lawyer?
It may be a good idea to link up with a real estate lawyer when you are facing challenging situations like a short sale or foreclosure or if you are looking to buy property owned by the bank. Your title company or lender might want you to get a real estate lawyer so as to confirm that every detail is correct with the property’s title. Having a lawyer can be especially valuable if you when to sell or purchase a commercial property since the rules regarding this type of property can be complicated.
Furthermore, if you have filed for bankruptcy or had a judgment filed against you, then an attorney can be a major asset to your team. What’s more, while you don’t need a lawyer to help you in buying or selling a house, their involvement can give you peace of mind.
What Are the Risks of Not Using a Real Estate Lawyer?
Since you are not legally required to hire a real estate lawyer during the sale or purchase of a property, you may opt to forgo hiring a lawyer. However, doing this all by yourself leave you vulnerable on several fronts. For starters, you run the risk of preparing your documents incorrectly, which could cause legal consequences.
Plus, failure to hire a lawyer can leave you open to lawsuits which could have been prevented by having a real estate attorney looking out for your interest right from the start. Vancouver real estate lawyers are specially trained to catch little details and legal discrepancies that you are likely to miss, even when you have a real estate agent.
At Bill Montecucco, we offer full-service real estate law, including selling, buying, leasing, development, and disputes. Our real estate attorneys Vancouver WA are highly experienced and qualified with legal matters in Vancouver. Contact us today for more information.