Buying or selling a real estate property is not really a simple thing that you can do on your own. Keep in mind that this will include a lot of papers to deal with.
You will eventually need the help of professionals that can make the transaction run smoothly. One of the most important professionals that you should be calling is a real estate lawyer Miami. And why should you ever consider a lawyer?
Deals with a lot of contracts
When you purchase or sell a property, you will enter a contract usually with a real estate agent. There are also the brokers that act as an intermediary. An informal agreement up until all payments are made will simply not work in this kind of scenario. Since it involves a lot of contracts, you have no other choice but to actually hire a real estate lawyer.
This can prevent problems from taking place in the future. In fact, as rule of thumb, you shouldn’t sign anything that you don’t fully understand. And one of the best things that you can do is to get a trustworthy lawyer that you can depend on.
Save a lot of money
There are instances when the seller, for instance, is still going to pay the brokerage commission with or without a sale. It is also possible that you are going to pay for more than one brokerage commission. These things can be avoided when you hire someone who is knowledgeable about contracts. The lawyer can provide legal advice when it comes to a brokerage agreement. This way, you will be able to know which parts of the agreement should be revised to make everything run smoothly.
Prevent future problems
One of the things that you should remember is that you should always look for a lawyer the moment you decide to purchase or sell a property. A real estate lawyer will be able to prevent future problems from taking place including tax consequences of your transaction. Can you take advantage of any tax provision that allows the exclusion of capital gains? These are things that a lawyer can help you with.
For instance, if you are going to have a purchase agreement with the seller, you can have the leverage such as a clear understanding as to what you can do in some conditions. For instance, what happens if you found out as a buyer that there are termites and lead-based paint found in the property?
It is important that you get the help of a lawyer from the start. If you are going to make your biggest investment, why not go for a lawyer that can make sure that everything is running smoothly? A lawyer can protect you legally as well if you are going to sell the property.
A lawyer is needed from the start of the transaction until the end of the transaction. It is also important that whether you are a seller or a buyer, you should always take into consideration the possible legal problems that could occur if you don’t have someone who is knowledgeable about real estate laws.