Real estate negotiations can be tough. While real estate agents are often quite knowledgeable about property law and how it relates to the home buying process, sometimes issues escalate quickly and legal advice is needed. When this occurs, a skilled real estate lawyer is essential.
Do Sellers Need to Hire a Real Estate Attorney in Texas?
While some states require parties to be represented by real estate lawyers in all transactions, Texas does not. Buyers typically have more reason to hire an attorney than sellers do, but there are still many ways in which an experienced real estate attorney can guide and assist you throughout the process of selling your home.
One particular circumstance in which a real estate attorney is a must for sellers is when a property is for sale by owner (FSBO). When your property is on the market as FSBO, you don’t have a real estate agent to guide you through the process and help ensure that all of your legal forms and documentation are in order.
Many sellers in FSBO situations use online contract templates in order to draft their own documents, but these are often riddled with errors, some of which have the potential to be costly. A real estate attorney can either draft contracts for your or, at the very least, review the templates you plan on using and point out any errors, loopholes, or illegalities that you should be aware of before passing along the contract to a buyer.
What Real Estate Attorneys Do for Buyers
Real estate attorneys help sellers by drafting the terms of their sale and reviewing listing agreements. If there are potential issues complicating a sale, such as a property that can be divided or development-limiting covenants, real estate attorneys are needed to advise sellers on how to proceed.
Once a home is on the market and starts receiving offers from buyers, real estate attorneys can go over each offer with you and help you come up with appropriate counter-offers. If there are tax implications to be aware of in these offers, attorneys are able to spot and flag them for you.
When a home has sold, your attorney can represent you if the buyer’s attorney finds an issue with your title. They will draft the deed, which conveys your property to the buyer. A mechanic’s lien waiver may be drafted if a home has improvements, and a seller’s attorney also handles many documents involved in the closing––the proposed settlement statement drafted by the buyer’s attorney will be reviewed, the pay-off number from your current lender is calculated, and a certificate of satisfaction is prepared to show that you have paid off everything you owe your lender once the sale is complete.
Hire a Real Estate Attorney in Texas
If you’re selling a home and you’re seeking a knowledgeable real estate attorney to represent you through the process, contact Kelly Legal Group at 512-505-0053. At Kelly Legal Group, we pride ourselves on Getting It Done for clients in Austin, Houston, San Antonio and beyond.