What You Should Know About Real Estate Law

There are many types of law a person can move into. When looking for an attorney to use, you want to make sure you know what type of lawyer you need to handle your case. Here’s what you need to know about real estate attorneys.

Real Estate Law

When you see a real estate law firm Austin TX, you may wonder why anyone would need a real estate attorney. Real estate law focuses on the sale and purchasing of property including land, buildings and other items that come with the property such as appliances. This area of law focuses on real property including the property deed, titles, taxes, zoning and estate planning. When someone acquires a piece of property, they need to know what they can and cannot do with the property.

Hiring an Attorney

While Texas does not require an attorney present during a real estate transaction, 21 other states and the District of Columbia do. The additional cost of an attorney is part of purchasing a property in these states including Virginia, Kansas and New York. In non-attorney states, the option of hiring an attorney is up to the purchaser. Certain transactions such as short sales or foreclosures may benefit from the expertise and legal knowledge of an attorney. Commercial property transactions are typically more complicated than residential transactions benefiting from a real estate attorney.

What to Expect

If you hire a real estate attorney for your transaction, you can expect them to fulfill a few responsibilities. There are a variety of legal documents referring to the mortgage, purchase, transfer and title that need reviewing and preparation. The attorney handles this along with the closing itself. For the title, they write the insurance policy, search to be sure the title is clear and move purchase funds over. Their education and expertise allow them to handle the various aspects of the transaction from the initial agreement to the final closing.

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