Working with a lawyer can be a real benefit when buying a home. But what sort of things do lawyers do in real estate transactions? Whether you are the buyer or the seller in a real estate sale, a lawyer is there to ensure all the procedures are handled properly and legally and are delivered on time to complete the transaction.
If you’re the buyer in a sale, a real estate lawyer will take care of a variety of tasks, including but not limited to:
• Review all legal documents including the Agreement of Purchase.
• Ensure there are no liens, encumbrances or other financial issues attached to your prospective property.
• Check that Title Insurance for the property is in place and the property’s taxes are up to date.
Finally, they will also see that all legal and financial obligations have been met prior to closing and be involved in exchanging legal documents and keys with the seller’s lawyer. On the seller’s side of the transaction, a lawyer will perform many of the same tasks and will also deal with any potential title issues. The lawyer will also make certain all the negotiated financial and legal conditions of the sale have been completed satisfactorily and be there for the transfer of documents and keys from the buyer’s lawyer.