Friday, Mar 24, 2023

What Does a Real Estate Attorney Do?

If you are thinking about buying a property to start a business, you might need to hire a real estate attorney. Real estate law is a specialized area in which lawyers deal mostly with property law. If a real estate transaction goes in the wrong direction, real estate attorneys can step in and file lawsuits to have these issues resolved in court. Some of the other roles of real estate lawyers include assisting with foreclosures, reviewing documents, and performing appraisals.

Draw Up and Review Documents

One of the key roles that real estate attorneys will fulfill has to do with documentation. A real estate attorney can prepare documents for conveyance transactions, rental agreements, purchasing contracts, and financing agreements. Nearly all of this is going to apply to commercial real estate, making a commercial real estate attorney Austin an important part of the team. Even though real estate agents can assist with some of this, licensed lawyers might be required to handle some of the other tasks.

Review Real Estate Transactions

Real estate attorneys are also going to be involved in the process of reviewing and providing advice on real estate transactions. Even though the client is going to be the one to negotiate the deal, he or she might ask an attorney to perform due diligence and make sure that nothing has been missed. If anything has been overlooked by the client, the attorney is going to look at the contract, spot the issues, and have them corrected.

Engage in Litigation

Finally, real estate attorneys might also be needed to perform litigation. Not every transaction is going to work out. When something goes wrong, it is common to head to the courts. This is where real estate attorneys can represent their clients. This including drafting court documents, participating in hearings, and filing appeals if required. Real estate attorneys will also bargain with opposing counsel in an effort to reach a settlement agreement.

Trust Real Estate Attorneys

These are a few of the ways real estate attorneys can help out with commercial property issues. While nobody enters into commercial real estate thinking he or she is going to require an attorney, it is important to trust a legal expert for these key issues. In commercial real estate, the stakes are high. Therefore, everyone needs to do their due diligence and make sure that an attorney reviews all of the important pieces of the transaction.