Most individuals looking to invest in, sell, or buy property usually engage the services of a real estate agent. The agent is versed in the procedures involving leasing, purchasing, and selling of properties. Some individuals who are new to real estate transactions may feel all they need is the expertise of a real estate agent.
However, savvy individuals and those experienced in the real estate industry know that in order to get a real estate deal at the best prices and with favorable terms and conditions, one must engage the services of a real estate lawyer. In some cases, the buyer or seller may introduce clauses to the sale contract that are not favorable to the other party and may cause the individual to pay more than necessary.
Benefits of a Real Estate Lawyer
The seller of a real estate property may also try to transfer responsibility for debts or damaged sections of the property to the new owner. Individuals who want to make sure they are not cheated in a real estate deal should hire real estate lawyers. The following are some of the benefits of hiring real estate lawyers in Chicago.
Thorough Assessment
Before closing the sale on a property, the real estate lawyer reviews the terms and conditions stipulated in the sales contract. This is essential to make sure that the document is legally enforceable and that the client is not being cheated. Most individuals are not well-versed in real estate and legal terminology and may not understand some of the fine print. Reviewing the document ensures the client is not acquiring the property with an undisclosed legal issue.
Verifying Accuracy of the Deed
If the property is being purchased jointly, both parties need to ensure the deed is accurately filed. This is because the terms of the deed dictate the administration of the property and how it will be shared on the death of either partner. This is especially true for locales such as community property states. Individuals should ensure they engage the services of a real estate lawyer to ensure the correctness of the deed.
Individuals looking for expert real estate lawyers in Chicago should contact Starr Bejgiert Zink & Rowells. For more information and to make inquiries about their services, visit their website.
