It is essential to have a real estate attorney anytime a purchase is made for property. Whether it is merely a transaction involving land or the sale of a home or commercial structure, an attorney is necessary to inspect the sales contract and handle the closing in court. While many buyers and sellers may want to avoid retaining an attorney at all, many states like New York actually require all land sales transactions be handled by a licensed attorney to ensure that all legal requirements are conducted according to state law. Actually, even leasing agreements should also be analyzed by a legal professional, and especially for those renting in upper-scale areas with significant rental amounts. There are many times when real estate lawyers like the professionals at SL Law Group are needed from start to finish on any real estate deal.
Whether the involved parties are working out a deal for a sale or a rental lease, there are many legalities associated with both. Sales agreements not only include issues of sales and property tax liability, but property valuation, zoning, and title searches are also legal components of any agreement. Contracts can be intricate, and it is always an advantage to have a legal professional assessing any codified agreement regardless of whether you are buying, selling, or leasing. Leases in particular need evaluation before anyone signs on the bottom line because all responsibilities should be spelled out in the contract. Legal disputes can arise quickly when this is not performed beforehand.
Title Search and Closing
All real estate sales will involve a title search and a closing hearing. Your attorney is typically required to be at the hearing and provide the legal details regarding the purchase. Once the title is deemed clear and all parties and lien holders are recognized, a sale can be finalized. These final steps in a sales agreement are central to any purchase, and having an experienced attorney who focuses their practice on real estate transactions is assuredly an real advantage.
Anyone in New York who has a pending real estate legal issue or considering a transaction should contact the real estate lawyers at SL Law Group for comprehensive representation.