What Does a Real Estate Attorney Do?
Real estate attorneys are vital to the transactions which take place in the property market every day, but unless you are familiar with this profession you might not have a clue what the job actually involves.
Whether you are an aspiring real estate attorney or someone looking to buy or sell a home or business premises, our concise overview of the ins and outs of this role will bring you up to speed.
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Dealing with documentation & ensuring compliance
Unsurprisingly the main duties of a real estate attorney involve wrangling the various important documents that need to be completed by the parties involved in a transaction so that everything can go through smoothly and in compliance with relevant legislation.
Achieving real estate compliance is easier in the digital era thanks to the availability of CRMs built specifically to track and steward transactions from day one. This means everything from mortgage documents and title documents to purchase agreements and every other scrap of essential paperwork can be managed without the usual hassle.
Real estate attorneys will also have to step in should a dispute arise. This can occur if there is a complication with the chain of ownership, and if such issues are not resolvable in normal circumstances then the attorney could also be called upon to participate in courtroom resolutions.
Working with individuals & organizations
While any homeowner or prospective property buyer will need the assistance of a fully qualified real estate agent to navigate the complex waters of the transaction, it is also worth noting that another part of the job will involve providing similar services to businesses and commercial ventures of all kinds.
While the scope and scale of corporate-level property transactions may be far greater than domestic cases, the same principles are in play. It is all about making sure the correct paperwork gets to the right parties within a given timeframe, while adhering to business law and all that this involves. The real estate attorney can help to grease the wheels if they are proactive and efficient in their own work.
Pinpointing potential problems
Another aspect of what real estate lawyers bring to the table is the ability to detect unforeseen issues which could hobble a transaction before it has even got off the ground, but which have remained unnoticed by the clients up until this point.
For example, if a property is subject to some significant restriction which might make a lender think twice about approving a mortgage application, this is something that a lawyer can raise so that clients are not caught out.
Understand variations in state law
There are varied and occasionally convoluted legal approaches to real estate transactions that exist from state to state, so it is necessary for an attorney in this field to know what their responsibilities may be depending on the region in which a deal is taking place, and to inform their clients of their own requirements.
With the right education, training and outlook, real estate law can be engaging and rewarding, as well as providing secure career prospects for those that follow this route.
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