Property attorneys document and examine real estate transactions, including purchases, rentals, inspections and appraisals. They also help resolve insurance and ecological problems. When things go wrong in real estate transactions, real estate attorneys step into file and defend suits in court. While some assist borrowers shield against foreclosure many real estate attorneys also help foreclosure is carried out by lenders.
Document Drafting
One of the functions a real estate lawyer plays is that of record drafter. Real estate attorneys prepare deeds for conveyance trades, leases and lease agreements, purchase contracts and funding agreements. While state law allows real estate agents to help customers fill out these kinds of documents, only accredited lawyers may draft and revise the records.
Negotiations
Because real estate attorneys possess sophisticated experience with many kinds of real estate transactions, customers often ask their real estate lawyer to negotiate the terms and conditions of real estate deals. This involves working with different attorneys, developers, investors and brokers.
Transaction Review
Some real estate attorneys are involved only in reviewing and providing advice on real estate transactions. Clients will negotiate their own deals, sign a contract and then ask the lawyer to perform the”due diligence” on the offer. In other words, the lawyer will analyze legal title issues, environment issues and reports and some of the contracts or other records involved in the trade. Real estate attorneys have instruction which enables them to spot problems that their customers do not understand. In this role, the real estate lawyer plays guardian for the customers to guarantee that the customers do not fall into some unseen legal traps.
Litigation
Real estate transactions do not necessarily work out, and if they do not, it’s common to involve the court in a suit. Real estate attorneys represent their clients in real estate litigation. Including drafting legal pleadings to file with the estimate, participating in hearings and trial with the estimate, and filing appeals if necessary. Additionally, it includes bargaining with opposing counsel to attempt to work out settlement agreements.
Foreclosure
Many real estate attorneys specialize in mortgage and trust deed foreclosure, especially during difficult financial times. Some attorneys represent lenders while some represent borrowers. The attorneys representing creditors help direct creditors properly through the foreclosure procedure, which could include filing a lawsuit in court. The attorneys representing creditors, on the other hand, attempt to make life hard for the foreclosing creditor by challenging any errors made in the foreclosure procedure, and by negotiating with the creditor for a settlement agreement to halt the foreclosure procedure.