The Roles And Responsibilities Of A Real Estate Attorney

If you are planning to buy a home, then this will surely be one of the biggest investments of your life. Many people consider buying a home as once in a lifetime achievement, and this is true to a great extent since it takes lots of money, hard work, and dedication, especially these days where real estate prices are skyrocketing.

But in addition to working with a real estate agent that will help you in finding the best property, you might want to consider working with a New York real estate attorney for dealing with the negotiation process without any hassle.

But what does a real estate lawyer do and what are his responsibilities? 

Let’s find out through this blog post.

They can help you in understanding the pre-approval process

Before you begin your hunt for the best property in the town, you must consult with a New York real estate attorney in order to understand the pre-approval process along with the financing process. You must understand how much you can afford for borrowing so that you can build a price range. Having a price range will allow you to filter the options quickly, and you will not waste time visiting properties that you can’t afford.

After consulting with a New York real estate attorney, you can move on to get in touch with a licensed mortgage loan officer so that your pre-approval process can be started.

They review the real estate sale contract

One of the most critical parts of your real-estate deal will be the contract that will be signed by both parties. When you look at the contract, then there will be many legal jargons in it that will make things confusing for you and not being clear about the same, can result in a disaster.

After choosing your dream home, the realtor will aid in drafting the offer, and then this offer will be submitted to the seller. After the acceptance of the offer by the seller, you must get in touch with your attorney and make sure that there is nothing fishy in the contract that can be used against your favour.

They negotiate with the seller

It is not mandatory to have a home inspection, but real estate experts highly advise it. The timeline for the inspection is clearly mentioned in the contract as it is the only time when the buyer can ask the seller for any type of repair. If you have an attorney by your side, then he will help you in keeping tabs on the inspection deadline and making sure that the seller does the needful.

An experienced real estate lawyer will not stay dependent on verbal agreement between the buyer and the seller, and he will document every type of repair done by the seller so that you don’t leave any loose ends during the real estate property deal.

They will clear all your doubts

If you really want your interests to be protected, then you will need to make sure that you are working with a real estate lawyer during the real estate deal. The lawyer will clear all your doubts regarding the pricing, your legal status, the contract, pricing of the property, the terms and conditions laid down by the seller and that’s why they will play an important role in making your real estate deal crystal clear and profitable.

Real estate deals are not done frequently, and that’s why there is no room for error in it. By working with a real estate lawyer assigned by a reputed law firm like Radow Law Group, you will make sure that your interests are protected throughout the deal, and you get the opportunity to own a property without any hassle.

Author: RAYMOND D. RADOW
Ray Radow is a founding partner of the Radow Law Group, P.C. His practice concentrates on Real Estate and Commercial Litigation with a focus on Foreclosure Defense Litigation and Real Estate Transactions, as well as Personal Injury and Criminal Law. Since the onset of the housing crisis, Mr. Radow has represented countless borrowers faced with the looming prospect of foreclosure and has regularly obtained loan modifications for eligible clients, resulting in significant reductions in monthly mortgage payments and, most importantly, keeping families in their homes.

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