Property transactions are indeed complex. Sometimes hiring a real estate lawyer is necessary to ensure the entire process of buying/selling goes smoothly. Legal transactions must be managed carefully so that both seller and buyer get the best from the deal. Maybe a spouse or co-owner has died or you are buying the property as a corporation. You may live in another country and not be familiar with the terms in the Florida Purchase Contracts. There are a number of services your real estate lawyer can provide you with when it comes to property transactions and creating legal contracts. Here is what you need to know before you hire a real estate lawyer:
Types of Real Estate Lawyers
There are two major types of real estate lawyers:
Residential Real Estate Lawyer
Selling your home is an essential process which must be handled in the most professional way possible. As a seller, you would want to have a smooth transaction process with genuine buyers to make the whole experience seamless. A residential lawyer can help you with contract questions or terms about the process whether it is a new home, condominiums, or a resale home. If you are selling a property while living abroad or selling a property abroad asking a lawyer to review the contracts on your behalf may add confidence and security.
Commercial Real Estate Lawyer
Real estate lawyers may be even more important for commercial properties than they are for residential properties. These lawyers can come through for sellers, buyers, landlords, tenants, and lenders to provide best possible solutions for their transactions. They ensure that genuine sellers are connected with genuine buyers and proceed with the dealings as per the laws.
What to Expect From the Lawyer
Having a real estate lawyer can relieve some of the stress of dealing with financial details in the transactions. Your lawyer will ensure no mistake is made in the contracts; thereby protecting you from any loses.
Documentation You Would Need to Submit to the Lawyer
As a seller, you would need to prepare essential documents to hand over to the lawyer before they can proceed with the process. The documents a lawyer would require include:
- Your property’s latest tax bill
- Utility bill of the previous year
- Details of the mortgage
- A copy of accepted offer by the buyer
- Other relevant records proving you as the owner of the property
A real estate lawyer can play an important role in ensuring that your transaction protects you and represents the terms you have asked for.
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