subject: Understanding What Are Real Estate Attorneys? [print this page] Real Estate attorneys are lawyers that specialize in helping people buy and sell homes. Some states require a real estate attorney to assist with all the mortgage documentation, whereas others do not require yet recommend the use of a real estate attorney to assist with the contracts and other documentation related to the sale of a home. The lawyer will review any offers made or received on the home in question to ensure that your rights as the buyer or seller are protected.
Real estate attorneys may also assist with title searches to make sure the title or deed to the home is good and that there are no liens of any kind on the property. This serves to protect the mortgage company because this work upfront will make sure the loan closes properly and removes some of the risk. They will prepare all legal documentation, arrange title insurance, and more than likely attend the closing meeting with you to ensure everything is completely legal and understood between the buyer, the seller, and the lender.
When Real Estate Attorneys are Needed
If you live in one of the states where real estate attorneys are required in order to close on a home loan, or if you are moving to or purchasing a property in a state where a lawyer is required, you will have to enlist his or her services before you can make your home purchase final. If you are not sure about the lawyer requirements in your area, check with your Realtor or mortgage company because they will be able to tell you right away what, if any, services are needed. If the services are not legally required by your state, it is still advisable to have a lawyer available during the home buying or selling process to ensure your interests are protected.
How You Can Find Real Estate Attorneys
The first place you can look is with your Realtor or mortgage company. They deal with the home buying process every day, so they are quite familiar with the real estate attorneys in the area. If you are not happy with their suggestions, you could then turn to your local phone directory because most lawyers list themselves or advertise in there to help extend their client base. More often than not though, people will turn to the Internet to find the information they need. There are several different online directories available that will help you find real estate attorneys when you need them.
Things to Remember
If you have not found a real estate attorney but you are ready to make an offer on a home, be sure to state somewhere in the offer that it is contingent upon a lawyer's approval. This will give you ample time to find an attorney and ensure your rights are protected before you sign the binder. Depending on whether you are buying or selling a home, your lawyer will have different responsibilities, but no matter what they are, they are all designed to protect you and your interest in the transaction.
