Why Wills & Estate Lawyers are Vital for Secure Property Transactions

There are quite a few misconceptions regarding wills & estates. People think real estate business is just like any other ordinary business. Then there are some who think buyingselling a real estate is as easy as shopping for a grocery item. Many people think real estate agents can perform eachevery task related to their property, whether its buying or selling. They tend to think, the real documents under their possession are the only thing they need to worry about. Well, there are quite a few misconceptions,biggest of them all is, there is no need of a WillsEstate Law Lawyer.

If you belong to the same group, this post will definitely change the way you think. Here are some limitations of a real estate agent.

  • A property agent can only guess what documents you should have, in order to complete the transaction. Moreover, he would only guess whether the documents you have are completemeet all the legal requirements. True information can only be provided by the real estate lawyer.
  • A property agent can only give his opinion on the basis of his experience in a particular neighborhood, whether you can build a multistory building on a land or not. You’ll get a better reply from the property law attorney.
  • Agents have almost no information regarding the constructionsstructure of a new property. But real estate lawyer can guide you about the design, constructionother related things.
  • Another important thing is, real estate agent is not a necessity to complete a transaction, but you would always need a lawyer to oversee the processmake sure the deal is closed smoothly.

So, always consult real estate lawyer, such as weltmanbernstein lawyer Toronto before buying or selling a property. Here are few major responsibilities of a real estate attorney.

  1. Drafting

Here, real estate agents will help you fill out these documents according to your requirements.

  • Deeds for transactions
  • Rentallease agreements
  • Financing agreements
  • Purchase contracts

Real estate lawyer Torontoreviewsgives his suggestions. Only licensed attorneys can draft or review these documents.

  1. Negotiating

For negotiation, your attorney works with the following people:

  • Other attorney
  • Brokers
  • Developers
  • Investors
  1. Review

Buyerseller negotiate a dealsign contract. Then they ask real estate attorney to review the contract with “Due Diligence”. The attorney would review the following:

  • Legal title issues
  • Reports
  • Environment issues
  • Other related documentscontracts.

Some attorneys only offer this particular service, especially in the case of residential property transactions.

  1. Litigation

If property transactions don’t work out, affected party involves takes the matter to the court. Real estate attorneys represent their clients in lawsuitsperform following duties:

  • Draft legal pleadings
  • Participate in hearing
  • Trial with the judge
  • File appeals
  • Bargain with opposing party for agreement settlement
  1. Foreclosure
  • Attorneys representing lenders guide them through foreclosure process. It may include filing a lawsuit.
  • Attorney representing borrowers challenge mistakes in foreclosure processmake lender’s life difficult. They also negotiate with lenders on behalf of borrowers to settlement agreement with respect to foreclosure.