When it comes to real estate, using the services of an attorney can add a few thousand dollars to your bill, but it’s money well spent. Purchasing a home and navigating the complex issues attached to it requires someone experienced and knowledgeable by your side so that you don’t waste money. Below are several reasons why you should hire a real estate law attorney.
- Contracts: An attorney can not only help negotiate a contract on your behalf, they can also ensure that the contract adheres to all state laws and addresses any issues that might affect the property.
- Addressing Liens: Your attorney can also perform what is called a title search. Their purpose is to make sure the property you want to purchase is free of any encumbrances, which is a claim against the property by a party that is not the owner. If a title search reveals that the seller must first pay an outstanding court judgement before it can legally be sold, a lawyer can ask for a price reduction for making the buyer go through the hassle.
- Property Transfers: If the party selling a home is a corporation, trust, or partnership, preparing the contract and negotiating will be complex. An attorney understands the nuances of property transfers with all types of parties and can make sure you’re not taken advantage of.
- Filings: A real estate deed often needs to be filed at the county and state level. An attorney can do this quickly and efficiently. If the transaction involves property where certain types of construction might not be allowed, a lawyer can go through the hurdles of state regulations so that the purchase can be completed.
While having a real estate law attorney isn’t a legal requirement, they can help you do all of the tasks above, as well as protect you from potential lawsuits. If you’re facing a real estate law issue, our Chicago real estate law attorneys can counsel you on such topics as contract reviews and negotiations.
Contact us onlineor by telephone at (312) 313-1613 to speak with an attorney.