10 Roles of a Real Estate Attorney

by Brendan Duckworth

Roles of a Real Estate Attorney

Ever wondered about the pivotal duties of a real estate attorney? Here's a breakdown of ten significant responsibilities of these legal professionals!

A real estate attorney is a specialized legal expert licensed to handle all legal aspects involved in real estate transactions. They possess the necessary knowledge and experience to provide valuable insights to all parties engaged in buying or selling properties.

From document preparation to contract negotiation, the role of a real estate attorney encompasses various responsibilities, making them indispensable during real estate dealings.

Rhode Island and Massachusetts are among the states where the presence of a real estate attorney is mandatory during property closings. During this crucial phase, a real estate attorney scrutinizes and approves all aspects of the closing for the benefit of all parties involved.

The responsibility of covering the cost of a real estate attorney during closing depends on the negotiations within the real estate contract. Whether it's the buyer or seller, one of the parties typically bears this expense.

Engaging a real estate attorney during a transaction offers numerous benefits, albeit at a cost. On average, consulting a real estate attorney can incur fees of around $300 per hour. However, fee structures may vary, with attorneys often charging fixed hourly rates or specific fees for particular services like document drafting or attendance at closings.

Finding a reputable and proficient real estate attorney is crucial. Recommendations from friends or family and online reviews are valuable resources for identifying a suitable attorney.

Whether you're a buyer or seller, considering the hire of a real estate attorney, here are ten essential responsibilities they undertake:

Chapters

Title Search
Contract Preparation and Negotiation
Facilitating Closings
Handling Litigation
Addressing Land Use Issues
Managing Purchase Agreements
Resolving Title Problems
Assisting in Foreclosure Proceedings
Handling Complex Transactions
Drafting Legal Documents

1. Title Search

Conducting a thorough title search is one of the primary duties of a real estate attorney. This process involves examining public records to ascertain a property's legal ownership, ensuring a smooth transfer of title during a purchase.

2. Contract Preparation and Negotiation

Real estate attorneys are tasked with drafting contracts between parties involved in a property sale. They possess the legal authority to prepare and review all relevant documents and contracts, facilitating smooth negotiations.

3. Facilitating Closings

In states like Rhode Island and Massachusetts, real estate attorneys play a vital role in overseeing closing procedures. They manage the final stages of transactions, ensuring the transfer of funds and adherence to contractual obligations.

4. Handling Litigation

In cases of contractual breaches or disputes, real estate attorneys initiate and oversee legal proceedings, resolving conflicts through litigation.

5. Addressing Land Use Issues

Real estate attorneys stay abreast of zoning and land use laws, providing essential guidance to buyers interested in properties subject to such regulations.

6. Managing Purchase Agreements

Real estate attorneys prepare and review purchase agreements, ensuring that all terms and conditions are clearly outlined and agreed upon by both parties.

7. Resolving Title Problems

When title issues arise, real estate attorneys intervene to rectify them, obtaining necessary legal documentation and coordinating with relevant parties.

8. Assisting in Foreclosure Proceedings

During foreclosure processes, real estate attorneys represent and defend parties affected by foreclosure actions, safeguarding their interests and rights.

9. Handling Complex Transactions

Real estate attorneys provide invaluable assistance in navigating intricate real estate transactions, offering legal expertise to address any complexities that may arise.

10. Drafting Legal Documents

Real estate attorneys draft essential legal documents pertinent to real estate transactions, including purchase agreements, deeds, and mortgage notes, ensuring compliance with legal requirements.

In conclusion, real estate attorneys fulfill a multitude of crucial responsibilities throughout the property transaction process. Though their services come at a cost, their expertise and guidance are invaluable, offering peace of mind and legal protection to buyers and sellers alike. When considering hiring a real estate attorney, prioritize reputation and recommendations to ensure a smooth and successful transaction.

If you're planning to buy or sell property in Rhode Island or Massachusetts, reach out to the seasoned professionals at Duckworth Homes for expert guidance and assistance.

10 Roles of a Real Estate Attorney

by Brendan Duckworth

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