Real estate law is the name given to the branch of civil law that covers rights to possess, use, and enjoy land and the permanent manmade additions attached to it. This includes the capacity to hold interests in real property, permissible interests in real property, relations between owners, relations between owners and the community, landlord and tenant relations, the transfer of interests in real property, and real property financing, including deeds and mortgages. Real estate transactions, such as purchases, sales, and leases, are governed by a wide body of federal and state law, and the requirements established by state law often differ from state to state.
Is it necessary for me to hire a real estate attorney?
The answer is both simple and complex. Every state and sometimes regions within states have differing requirements. Some states leave that as an option open to the buyer and seller while others mandate it as a necessity. Your local real estate agent should be able to advise you what the protocol is in the area in which you are buying. That is the simple answer.
The complex answer has to do with in what situation you find yourself.
- Are you an out of town buyer?
- Are you buying a property that is a short sale or bank owned?
- Are you buying a property that is part of an estate sale?
- Are you buying a commercial property?
- Are you buying a property that could potentially have some structural issues?
- Are you buying a property in a problematic area such as a flood zone or areas with adverse conditions (tornado prone, radon, toxicity levels, etc.)?
- Are you selling a property that is in some state of distress?
- Are you the heir or executor of a property whose owner is now deceased?
- Are you selling a house with a non-cooperative partner?
- Do you have that gut feeling that something could possibly go wrong based on knowledge you have about the property?
- Do you have judgments or liens in your background?
If you answered yes to any of the above questions then hiring an attorney to guide you through the process would definitely be beneficial. If none of those apply to you and you have discussed your situation with your realtor, then you are probably fine to use your realtor’s knowledge and expertise to take you through to closing.
A real estate foreclosure is a complex matter. The average homeowner does not understand the foreclosure process. Homeowners may attempt to resolve the issue at first on their own, but usually find it necessary to hire an attorney. The attorney is knowledgeable about foreclosure laws.
You should contact an attorney as soon as you think you may be in financial trouble and cannot make your mortgage payments. If you have been served with a foreclosure lawsuit or are a party to a foreclosure proceeding, you should contact a real estate foreclosure defense attorney right away.
Why Use an Attorney in the Foreclosure Process
- A real estate foreclosure defense attorney is an expert in foreclosure law.
- The attorney is the only person who can legally represent you.
- The attorney is a skilled negotiator.
- An attorney can advise you of all your legal remedies and options to save your home.
- Attorneys have established relationships with loss mitigation departments of lenders and know how to get to the right person who is in charge quickly.
- Attorneys get results for their clients because lenders are more apt to respond if an attorney is involved.