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 buying and selling a real estate is as easy as shopping for a grocery item. Many people think real estate agents can perform each and every 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, and biggest of them all is, there is no need of a Wills and Estate 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 complete and meet 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 constructions and structure of a new property. But real estate lawyer can guide you about the design, construction and other 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 process and make 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.
- Drafting
Here, real estate agents will help you fill out these documents according to your requirements.
- Deeds for transactions
- Rental and lease agreements
- Financing agreements
- Purchase contracts
Real estate lawyer Torontoreviews and gives his suggestions. Only licensed attorneys can draft or review these documents.
- Negotiating
For negotiation, your attorney works with the following people:
- Other attorney
- Brokers
- Developers
- Investors
- Review
Buyer and seller negotiate a deal and sign 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 documents and contracts.
Some attorneys only offer this particular service, especially in the case of residential property transactions.
- Litigation
If property transactions don’t work out, affected party involves takes the matter to the court. Real estate attorneys represent their clients in lawsuits and perform following duties:
- Draft legal pleadings
- Participate in hearing
- Trial with the judge
- File appeals
- Bargain with opposing party for agreement settlement
- Foreclosure
- Attorneys representing lenders guide them through foreclosure process. It may include filing a lawsuit.
- Attorney representing borrowers challenge mistakes in foreclosure process and make lender’s life difficult. They also negotiate with lenders on behalf of borrowers to settlement agreement with respect to foreclosure.