Real estate law is a wide ranging discipline that affects the average person just as much as it affects multi-billion dollar organizations. This sect of the law covers land use, purchases, rental agreements, real estate agents, foreclosures, etc. There are thousands of laws that govern these transactions. Most people are familiar with real estate to include the buying and selling of land or property. However, they are not typically knowledgeable of the importance of real estate laws and attorneys. This article will shed some light on the oftentimes forgotten discipline of real estate law.
What Does a Real Estate Attorney Do?
Real estate attorneys do a lot of work, mostly behind the scenes. They work with people and entities that are in the midst of purchasing or buying land or property. Usually, there are many contracts involved that are filled with legal terms that the average citizen is not trained to understand. When purchasing or selling a home, a real estate attorney plays an integral role in ensuring that their clients are signing a document that has been drafted in their best interest. In addition, when you already own a property, it is advisable to have a real estate lawyer help you to draft rental agreements as there are many laws dealing with Philadelphia real estate that the average landlord is not aware of. In conjunction with being an advocate for home and property purchasers, real estate attorneys help people and entities that are selling their property as well as individuals in the midst of real estate litigation.
Property Disputes and Real Estate Litigation
Property disputes cover a variety of matters and can include a large number of people or organizations in the disputes, such as landlords, tenants, next door neighbors, HOAs and even unauthorized visitors. Some of the more common property disputes can include injuries occurring on your property, property line disputes, construction of a wall, or plants that block the owners natural line of sight, as well as damage occurring to your property. In addition, real estate litigation can also include many parties like investors, banks, property owners, or groups that have a vested interest in the property. Real estate litigation most commonly takes the form of contractual violations or disputes, foreclosure viability, and infringement of the rights of one or all of the parties involved.
Who Needs a Real Estate Attorney?
If you are renting, buying, or selling property, it is advisable to consult with a real estate attorney. Below, we have listed a few ways that a real estate attorney can help each cohort of people during the most common types of real estate transactions.
- Home and Property Buyers: Contract review and drafting, issues involving escrow accounts, negotiations during closing, foreclosures, rental agreements, ensuring that the deal is in your best interest
- Homeowners: Property disputes, property damage, zoning issues, renting and leasing, and mineral rights
- Renters: Rental agreement review and issues with landlords
- Property Sellers: Contract review and drafting, ensuring that all aspects of deal are in the seller’s best interest, making sure that the agreement is legal and binding, spearheading potential litigation efforts as well as foreclosure proceedings
Real estate attorneys have to be well versed in many areas of law. Partnering with one during a real estate transaction can save you time as well as money.
How a Real Estate Lawyer Can Help During Foreclosure
Foreclosure can be a long and tough process for any individual or company. What’s worse than the actual process of foreclosure, is going through it without a knowledgeable and experienced Real Estate Attorney. They can help individuals in the foreclosure process to renegotiate their contract, enter into a forbearance period, facilitate a short sale of the property, as well as aid in the refinance process. Going at it alone is not the most advantageous solution, it is recommended to get a free consultation regarding the nuisances of your particular foreclosure proceeding at a minimum.