While real estate agents may tell you that they can easily complete any paperwork necessary to complete a property closing deal, you should have a real estate attorney look over all the paperwork and ensure that all proceedings are done within the law.
States have different requirements when it comes to completing property deals. Some states will require a lawyer, while others may allow agents to complete the deal. If your state requires legal representation, then you have no choice. If your state does not require this, you may still want to have one complete the transaction. Unlike agents, lawyers do not work for either the buy or seller. They are neutral parties that will ensure all paperwork is legally binding and correctly filed.
Some properties already have legal problems prior to being put up for sale, and you will need a lawyer for real estate closing austin tx. For instance, some properties may have liens against the owner. If these claims are settled prior to closing, you can inherit the problem. Similarly, some properties may be set up with illegal tenants. In order to rent out the property, certain requirements must be met. Unfortunately, not all landlords follow these guidelines. You could purchase a property with the intent to rent it out only to find out that it isn’t legal to do so until certain codes are met. This will then cost additional money, or you will have to change plans for the property itself.
Certain situations almost require that an attorney be present. For example, an out-of-town purchase or one needed to be completed through a bank, such as a foreclosure or short sale, may warrant an attorney. Structural issues, flood zones, and estate sales are additional examples of closings that may need legal representation.
Even if a property deal seems simple, having an attorney look over all of the paperwork will ensure a proper and smooth transaction. You don’t want to find out after paperwork has been signed that something went wrong.