What Does A Real Estate Lawyer Do And Do You Really Need One?

• 27 Dec 2022
• Real Estate Transaction Attorney

Purchasing a house is the most important decision of your life and it is obviously the biggest investment you will ever make. But since there are many pitfalls and undiscovered opportunities while getting a property under your financial belt, it makes complete sense to get some legal guidance from a real estate lawyer. 

Hiring a real estate attorney while buying a property is much more than hiring a legal professional who can decode the fine print of the contract for you. It is the responsibility of a real estate attorney to protect both you and your interest during a real estate transaction.

A real estate lawyer acts as a resource, shield, and guide for you and he offers peace of mind so that you can move seamlessly forward in a real estate transaction. Below, we have discussed everything you need to know about a real estate lawyer and their importance during a real estate transaction.

Who Is A Real Estate Lawyer?

A real estate lawyer or a Queens real estate attorney advises their clients on important property-related matters. They review the property documents and deal with all the issues related to the property transaction on your behalf. This also includes conducting a legal review of the Agreement of Sales or Agreement of Purchase.

What Does A Real Estate Lawyer Do?

• Clarify The Property Documents

Property documents are not easy to fathom, especially for someone who doesn’t even know a single real estate jargon but while buying or selling a property, you must have someone who can read all the property documents and convey their meaning to you in layman language. This is what a Queens real estate attorney does for you during a real estate transaction. 

A real estate attorney reviews all the contracts and agreements and he even aids in negotiation to maintain transparency and comfort throughout the transaction. You can always rely on the lawyer to clarify the vague language used in property documents and contracts.

• Negotiate On Your Behalf

For all commercial sellers and buyers, skilled Queens real estate lawyers can always negotiate the buying or selling process on behalf of their clients. They use every strategy and method possible to get a deal that works for you. They even negotiate terms and conditions and come up with a solution on which both parties can agree. 

There are many fine prints in a real estate transaction that usually go unnoticed by untrained eyes and if overlooked, these unnoticed fine prints can put you on the other side of the deal where you might have to suffer losses.

• Protect Your Investment

A Queens real estate lawyer represents your interests, works for you, and even negotiates on your behalf during the entire real estate transaction process. A real estate attorney acts as your guide to help you walk through every complicated stage of a real estate transaction. At the same time, a lawyer safeguards you against all the risks and issues that you might have to deal with during the transaction. With an experienced Queens real estate lawyer, you can be sure the biggest investment of your life in the form of property is protected from every end and your interest will always be prioritized during the real estate purchase process.

• Assess Potential Risk Involvements

Doesn’t matter how sophisticated your real estate purchase is, it is always full of risks that could prolong the waiting period, if not jeopardize the entire transaction. This is where Queens real estate lawyers can help you to mitigate the most common risks involved in a real estate transaction. Some common risk factors that lawyers deal with are –

• • General market risk
  • Idiosyncratic Risk
  • Asset-level risk
  • Credit risk
  • Liquidity risk, and much more

• Analyze The Return On Investment

Buying a property is not just another purchase rather it is considered the biggest investment of your life and if you are not sure about the return you will get from that investment, investing in a property doesn’t make sense. But calculating ROI is not as easy as it looks as there are several factors to include and you can’t just use an online ROI calculator to analyze the return on property investment. 

A real estate attorney knows what it needs to analyze the return on investment on every potential property and therefore, they can help you to filter out the noise and choose from the pool of best properties that offer a higher return on investment.

• Handle Every Aspect Of Your Home-Buying Process

A real estate attorney offers a multitude of services that helps the client in getting the best real estate deal and since there are many aspects of a home-buying process, it is always good to have a legal expert by your side to deal with them. 

From taking care of the legal matters and representing your interests on your behalf during the transaction to negotiating the terms and conditions and preparing closing documents for a successful transaction, a Queens real estate closing attorney helps you at every stage of the deal.

• Closing The Deal Among Lawyers

The presence of a Queens real estate closing attorney during the closing of a real estate transaction is mandatory in only a few states but you can always benefit from legal support provided by an experienced lawyer. There are many things that move during the closing process- title insurance, mortgage, final inspection, and deeds. 

Having an experienced lawyer by your side to prepare all the documents and protect your asset, investment and interest can lift a huge weight off your shoulders. The presence of a lawyer during the closing also ensures a quick and secure transaction.

• Do You Need A Real Estate Lawyer? YES!

The simple answer to this popular question is a resounding yes. Right from the moment you start scouring the market for the best property to preparing the documents during the closing, you will need a real estate transaction at every stage of your real estate purchase process. Without a real estate attorney, you might end up griping about your investment because of a lack of knowledge and expertise. 

Real estate lawyers deal with real estate transactions on a daily basis and they are aware of the nooks and crannies of the deal. And if you are looking to get some legal help from an expert real estate lawyer then Radow Law Group is here to help you. 

We treat our clients like our family members and therefore, we invest time to fathom the specific needs, situations, and expectations of every client. We can get you the best real estate deal regardless of how explicit your demands are. You are just a call or email away from getting the best real estate legal advice and guidance.