Real estate is a broad area, especially when it comes to real estate legal matters. Real estate law can be extremely complex, and though it is not required to have a real estate attorney in Newtown Square, PA, to buy or sell real estate, it is highly recommended that you obtain representation from a Newtown Square, PA real estate attorney.
Buying and Selling Real Estate
Buying and selling a home can be an exciting yet overwhelming experience. It can be the largest purchase you’ll ever make, and it can also be the largest sale you will ever make. Thus, it is essential to protect yourself throughout the entire process. Enlisting the legal assistance of an experienced real estate attorney in Newtown Square, PA can ensure that your transaction runs smoothly from beginning to end.
Since there is no obligation to seek representation or legal advice from a real estate attorney, many people choose to forego legal assistance. In many cases, the outcome is detrimental. The majority of people are not equipped to handle the real estate process of buying and selling. There are a lot of documents and legal processes that are involved and required to be met in order to successfully complete a real estate transaction. Many are not prepared for this, and even with the help of a real estate agent, a transaction can fall apart at the seams rather quickly.
Real estate agents are not allowed to give legal advice. In fact, it is against the law for any real estate agent who is not licensed to practice law to provide legal advice. Unfortunately, many people only rely on real estate agents throughout their real estate journey. Real estate agents are helpful and necessary for many steps within the real estate process; however, they should never replace the expert legal advice of a Newtown Square, PA real estate attorney.
Real estate transactions require numerous legal documents. Foremost, in order for a real estate transaction to be valid, it has to be legally accomplished, starting with the contract to sell and purchase. A professional real estate attorney in Newtown Square, PA will be able to review a proposed contract prepared by another party to ensure that it meets all transactional expectations.
However, a Newtown Square, PA real estate attorney can also prepare a contract for you. Having an attorney prepare your contract will guarantee that your terms and requests are protected and met. Your attorney can always revise, alter, and update the contract if necessary. If a standard contract is used, it cannot guarantee that your terms will be fulfilled. The majority of real estate transactions are different, and sometimes, there are unique circumstances that require specific attention. A Newtown Square, PA real estate attorney, will know how to create a contract to fit your particular needs and situation.
Aside from the contract, your Newtown Square, PA real estate attorney can review other legal documents and verify that they are completed legally and accurately. Documents that involve deeds, title reports, mortgage commitment, and any other confusing document can be reviewed by your real estate attorney.
One of the best parts of having a real estate attorney in Newtown, PA in your corner, is the support of having someone who will negotiate on your behalf. Your attorney will be able to negotiate the terms of your contract on your behalf while keeping your needs ahead of any proposed changes or alterations to the transaction. Your attorney will also be aware of any legal consequences that could befall you if unfavorable changes are requested. If you do not have an attorney during negotiations, you may not have sufficient legal knowledge to protect yourself. Your transaction could especially be vulnerable to the other party if they have legal representation, and you do not. A skilled attorney will always make sure that your interests are fully protected.
If a dispute arises from negotiations, your attorney will be able to professionally handle and deter the risk of having the transaction fall apart. A real estate transaction can be a delicate situation. If either party is in disagreement over a term or condition, the transaction can quickly fall apart. However, if the other party is being unreasonable, your attorney may advise you that the transaction is not in your best interest to pursue. Your real estate attorney in Newtown, PA can warn you of any risks, legal ramifications, or disadvantages that you could be facing. It is important to listen and consider your attorney when he or she suggests any legal advice having to do with the transaction.
Transfer of Property and Closing
An experienced Newtown Square, PA real estate attorney who is enlisted to help you with your real estate transaction will be with you from the beginning until the transaction is successfully closed. The closing takes place when the money is paid for the purchase of the property, and the title is transferred. Your attorney will make sure that the transfer of property is done legally and binding.
Your attorney will also make sure that the transfer of deed is done correctly. The deed gives you or the purchaser of the real estate property the legal right to own it. In order for the sale to be effective, the deed needs to be recorded and filed accurately. The deed must be recorded before the transaction is finalized. And, it is important to note that the interests of the new owner are not protected unless the deed is recorded in the recorder’s office. Your attorney will make certain that the deed is properly recorded. It is imperative that this type of document is processed by professionals to avoid and prevent any problems with the real estate transaction.
At DeFino Law Associates, we are with our clients every step of the way. We will make sure to explain each step of the real estate transaction process and answer any questions and concerns. From the beginning of a real estate transaction to the closing, we will make sure that you are fully protected while keeping your best interests in mind.