A real estate attorney is any attorney who specializes in the wide range of legal matters regarding real property, including sales, purchases, leasing, settlements, and any other aspect of real estate law. Within these categories, real estate attorneys can focus on specific areas of real estate services; for example, some real estate attorneys market themselves as buying attorneys, selling attorneys, or title or closing attorneys.
It is easy to get confused about the different types of real estate if you are not involved in law yourself. To help you better understand the functions of a real estate attorney and when to hire one for real estate matters, here are three common areas of practice:
A real estate attorney or real estate lawyer is essential for any real estate purchase over a million dollars. High-end real estate purchases in the millions of dollars can be complex and highly sophisticated transactions with a variety of legal documents that are best handled by a skilled real estate attorney specialist. It’s a good idea to retain an experienced real estate lawyer who can review all closing documents to ensure that you receive properly-registered ownership of your new property. Finding an attorney for real estate affairs can be difficult so make sure you do your homework before making your choice. You don’t want to end up with a real estate attorney who doesn’t have your best interests in mind!
It’s just as important to retain a real estate attorney when selling property as it is when purchasing. While there may be fewer matters for your real estate attorney to handle in a sale, they are nevertheless critical for ensuring that your sale is handled properly, including verifying appropriate insurance, arranging security deposit transfers, and reviewing (or preparing) documents requiring your signature. A good real estate attorney can help ensure you get the full value of your property and receive payment in a timely manner. Your property is a real estate investment and you should take every precaution to benefit from property sales.
Real estate attorneys can act as closing agents who coordinate the entire purchase and sell process for a piece of property. A closing agent/attorney represents neither party – instead, they facilitate the closing event for BOTH parties, coordinating the activities required by the purchase and sale of real estate. A closing agent/lawyer is a neutral party charged with making sure that all documents are processed and recorded properly, that all funds are properly disbursed, and the purchase and sale is successfully concluded according to all applicable real estate laws. These laws can vary depending on your location so it is important to find an expert closing attorney, even for real estate matters. Some real estate attorneys specialize in being a closing attorney, sometimes also called a title attorney.
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