Anytime property is bought or sold, a real estate attorney is required to oversee the transaction. Real estate law is complex, which is why an attorney is needed to ensure that the exchange of property between parties is legal.
Both residential and commercial real estate have their own specific laws that govern transactions, so depending on the type of real estate you are involved with, you need an attorney with experience in that field.
Wondering why you may need a real estate attorney in Austin, TX? Here are some of the most common reasons.
Buying a Home
Whether you’re buying your first home or you’ve bought a home before, the closing typically takes place in a real estate attorney’s office. The closing is the term for the official legal transfer of ownership of a property from one owner to another. You’ll sign some papers, get your keys, and you’re the proud new owner of a home. There are various documents you’ll need to sign from your mortgage terms (if applicable) to title transfer and more. These documents are prepared by a real estate attorney and notarized as you sign them.
Sometimes a real estate lawyer helps with other aspects of residential real estate, such as refinancing a home, negotiations after the home inspection, establishing and upholding the terms of buying contracts, and other parts of the process that may require or benefit from legal intervention.
Buying a Commercial Property
Buying a commercial property is a different type of transaction from purchasing a home in a variety of ways. A business real estate loan is different from a home loan in terms and conditions. It will likely also be a larger financial undertaking as well, which is why you need a real estate attorney with experience in commercial property laws and regulations.
Selling a Home
In the process of selling a home, you need a real estate lawyer for many of the same reasons that buyers need one. A title search is one, which is a lengthy process that can be difficult to perform on your own. By having a lawyer conduct a thorough title search you can ensure that you are the true owner of the property you are selling. At the closing the title will be transferred to the new owner, which must be done legally with the help of a lawyer.
Selling a Commercial Property
To sell a commercial property you’ll need the help of a real estate attorney who has experience with commercial real estate. With such a high risk transaction for both the buyer and the seller, you don’t want to be the party without a lawyer on your side. Commercial real estate lawyers can help with negotiations, ensure that the buyer keeps up their end of the contract, and that everyone’s rights are protected during the process.
Both residential and commercial properties can result in foreclosure. If the owner is unable to make payments on a mortgage or business loan on a property, it can go into foreclosure. Foreclosures are complicated for both parties. When someone defaults on their loan and loses the property, it can go up for sale. Purchasing a foreclosed home or building can also be complex, which is why you need a real estate attorney to help make sure the transaction is legal.
Need a Real Estate Attorney in Austin, Texas? Contact Kelly Legal Group
If you’re buying or selling property, you need the help of an experienced real estate attorney in Austin, TX who can ensure that every part of the transaction is done legally and that your rights are upheld. Many Realtors and real estate agents have certain lawyers they often work with or recommend, but you have the right to hire a lawyer of your choosing. When you hire your own lawyer, you know without a doubt that they will act in your best interest. Kelly Legal Group has experience with both residential and commercial real estate and we will stand up for your rights in all transactions.
Call (512) 505-0053 or contact us today to schedule a consultation. We look forward to working with you for all of your real estate needs.