Have you heard about Regulation Best Interest? It’s a new rule from the SEC (Securities and Exchange Commission) which tightens regulations for real estate brokers, among many other investment professionals. While this “Best Interest Rule” is unlikely to affect the average homebuyer or seller, it certainly highlights the importance of real estate attorneys. In fact, there are a lot of reasons that it’s a smart idea to have an attorney when buying or selling property. Here are the top three benefits of hiring a real estate attorney.
It Is Extremely Cost Effective
It might seem counterintuitive, but one major real estate lawyer benefit is that you save time and money. Real estate attorneys can help you review – and more importantly, understand – all the legal language in your contract. They are also able to review home inspections and other disclosures that may be hiding critical information about the state of the property. This saves you time, unneeded stress, and protects you from signing a contract that may not be in your best financial interest.
Attorneys Can Prepare Complex Contracts
While buying or selling a single-family home is complicated, it pales in comparison to navigating complicated mixed-use land deals. Both of these are significantly simpler than anything involving a trust. What about an out of state 1031 exchange? What about land use and zoning? We could go on, but the point is clear – one major benefit of working with a real estate attorney is that they have experience preparing complex contracts.
No closing happens overnight, but a real estate attorney is often able to streamline the entire process and help you close faster. Wouldn’t you rather see your deal closed than languishing in escrow? Real estate lawyers help you prepare closing paperwork, transfer the property’s title, and pay any remaining costs. They can also help if you discover liens or other encumbrance against the property during the title search process.
Other Real Estate Lawyer Benefits
The three benefits of working with a real estate attorney above are far from all you can expect when you get professional legal help. Having an attorney on your side when buying or selling property helps in numerous ways. Other real estate lawyer benefits include:
- A sense of security – Attorneys know the law better than anyone. You can feel safe and secure that your interests are protected when making a real estate transaction with an attorney.
- Modifying a loan – Real estate attorneys can help if you’re buying property and need to modify the terms and conditions of your loan. If you’re selling, an attorney can help your seller modify their loan.
- Making sure the property is appropriately insured – From homeowners insurance to commercial property insurance, you want to be sure that all the proper insurance policies are in place.
Need A Real Estate Attorney? Call Eskander Loshak LLP
Now that you know the top three benefits of hiring a real estate attorney, it’s time you contacted Eskander Loshak LLP. Our unwavering commitment to our clients has made us one of Florida’s premier real estate law firms. Contact us today at (954) 334-1122 to see for yourself.