How an Attorney Can Protect Your Rights When You Are Buying or Selling Real Property
You’re looking to buy or sell a home or some commercial property. It could be the single largest financial transaction of your life, but you may choose to go through the entire process without seeking legal counsel. It may save you a few dollars in the short run, but it can expose to you significant liability down the road. Whether your transaction is large or small, there are many benefits to having a skilled and experienced real estate attorney guiding you through the process.
Five Compelling Reasons to Hire a Proven Real Estate Attorney to Handle Your Transaction
A knowledgeable real estate lawyer will:
- Ensure clarity and accuracy—Your lawyer will carefully review all agreements, ensuring that property descriptions are accurate, that title insurance is in place, and that the deal correctly memorializes your agreements. If there are provisions in a mortgage, note or other legal document that you don’t understand, you can ask your lawyer to explain. You won’t be surprised by any provisions you did not discuss.
- Often be a bargain in the long run—The upfront costs of qualified real estate counsel tend to be modest and affordable. The potential costs of a poorly drafted buy-sell agreement or inaccuracies in supporting documentation can easily run into the thousands of dollars.
- Know and understand all the documents involved in the transaction—This can be particularly important if there are zoning issues involved, if you are involved in new construction, or if the property you are buying or selling has historical significance. Even with a fairly straightforward transaction, though, your attorney will know what to expect and can quickly discern when there are irregularities or unfamiliar documents/requests.
- Know how to effectively deal with and resolve any contingencies that arise at your closing—Many states do not require a lawyer to be present at a real estate closing. If your attorney is there, though, he or she will typically be able to quickly identify any potential issues that could prevent closing, and may be able to take immediate steps to resolve the matter. Furthermore, when the other party’s agent sends you the proposed closing documents, you won’t have to try to figure out what they mean or whether they are accurate. Your lawyer can do that for you.
- Help you get the best deal—Often, real estate attorneys have a strong sense of the fair market value of property. They are also skilled at negotiation. Put those two things together and you have someone in your corner who knows what you should pay or receive for real property, and also knows how to bring others to the table.
Contact the Experienced Real Estate Attorneys at Bailey & Galyen
At the law office of Bailey & Galyen, we have a comprehensive knowledge and understanding of the laws governing real estate transactions in Texas, and can protect your rights in any type of real estate controversy. We offer a free initial consultation to every client. To speak with a proven Texas real estate attorney, contact us by e-mail or 844-402-2992 call our offices at one of the convenient locations listed below. We will take your call 24 hours a day, seven days a week.