Do you really need to hire a real estate lawyer for the purchase, sale, or lease of a property, or to assist with financing? The answer is yes—working with a real estate lawyer offers you numerous benefits and can help you avoid problems and pitfalls that could cost you time and money in the future.

• Knowledge of Your Rights: Your rights are extremely important whenever you buy, sell, or lease a property. Your real estate lawyer knows the rights of both parties and how to ensure a fair deal on all sides. A comprehensive understanding of buyer and seller rights can also be important in cases where there are problems with the property, either before or after the sale. If you are taking out a loan, the attorneys can guide you as to the effect of the provisions of lender’s loan documents. If you are providing financing, the attorneys can ensure that you obtain early warning of any problems with the loan and that your position is secure.
• Representation During Negotiations: Real estate transactions often include some form of negotiation, particularly regarding price. A real estate attorney can provide professional representation during a transaction if you are not comfortable or confident representing yourself. Often terms of real estate loans are also subject to such negotiation.
• Problem-Free Transactions: Prior to the purchase or sale of any property, it is important to ensure there are no legal issues that could affect the sale. Your real estate lawyer will do any necessary research to make sure the property is free of legal encumbrances that may affect its sale or purchase. Furthermore, your lawyer will take care of any necessary paperwork for the transaction, such as letters of intent, purchase agreements, title objections, contingency notices, due diligence review, closing statement review and deeds.
• Financing Issues: Debt financing is often a significant part of a real estate transaction, and may include refinancing of existing debt. Strategy Law is expert at representing clients with sophisticated financing questions or concerns, including commercial mortgage backed security transactions, multiple party transactions and/or guarantors, defeasance issues, bond financings, and addressing loan workout problems.
• Liability Protection: Another way to protect yourself in any real estate transaction is to work with your attorney to form or revise your entity documents to make sure your partnership or limited liability company (LLC) is set up correctly to take title to the property and act as a liability shield, protecting your other assets.