Why Do You Need to Hire Northern Virginia Real Estate Attorneys
Even though getting the services of Northern Virginia Real Estate Attorneys could add more cost of buying or selling a real estate property, you will find that the cost is really worth it. Read on to learn how a lawyer can help you in real estate transactions.
Real Estate Attorneys Can Help You in Contracts
Although you may have the skills to negotiate with a buyer or a seller, the terms of the transaction should be formally written in a contract so that they will be legally binding. Real estate lawyers can do this by not only negotiating for your best interest, but also make certain that the contract will adhere to all real estate laws in the United States and in Northern Virginia, and also to resolve specific concerns that could affect the property.
Another crucial service that a real estate attorney can provide is the title search, which is crucial to ensure that the property for sale is devoid of any encumbrances such as judgments or liens. The result of the title search is very crucial because it will show if the seller has the right to sell the property. A real estate attorney can easily provide this service, and usually at a fraction of a cost because they often have a network of people or companies who can help in the title search.
For instance, if the title search shows that the seller should pay an outstanding court judgment or lien before the home could be sold legally. A real estate attorney can easily address the issue by sweetening the deal such as granting the buyer a slight reduction in price. The attorney can also help the seller to find financing sources in order to satisfy the claims. Real estate lawyers can also secure proofs that the liens have been satisfied. This is crucial if you are the owner and you are considering a mortgage against the value of the property.
Transfer of Property
The drafting of the contract can be more complicated if one or more parties are companies, partnerships, or trusts. Northern Virginia real estate attorneys have more grasp in these different business types and their legal constraints within the state. Hence, the lawyer will make certain that the contract adheres to the law without violating the charter agreements of all parties.
Property deeds should be filed at the county and state offices. A lawyer can easily do this. Also, if there is an involved construction, a real estate attorney can easily process the required permits for the building.
If the property transaction revolves around commercial property, getting the services of Northern Virginia Real Estate Attorneys is even more crucial. A lawyer can easily pass through bureaucratic red tape to secure your tax identification number and also to establish the structure of the business for tax purposes.
What Could Happen If You Don’t Hire Northern Virginia Real Estate Attorneys?
Hiring a real estate attorney to represent your interest in a property transaction is not a legal necessity. But without a legal expert by your side, there’s a high risk of being sued by the second party for several reasons such as failure to disclose essential information. One of the lawyer’s tasks is to re-assess the home inspection and ensure that all important information about the property will be disclosed to the other party.
If you need experienced and respected Northern Virginia Real Estate Attorneys, call Bolger Law Firm. We can help you with different aspects of real property transactions such as deeds conveying ownership, transfers of property, foreclosures, and many more. Call us at (703) 383-9595 or send us an inquiry.