Real estate lawyers deal with legal issues regarding residential and
commercial real estate, neighbors and tenants, leasing, and private
property ownership. They will have the knowledge of zoning laws,
restrictions, covenants and value estimates and offer sound legal advice
about transfer of real estate property, including purchase and sale.
Outlined below are the primary responsibilities of an experienced and skilled Scottsdale real estate agent:
Document Drafting
One of the major responsibilities of a real estate attorney is drafting
legal documents. They will prepare and review purchase and sale
agreements, financing agreements, rental agreements, leases and
conveyance transactions. Although some states law allow agents to assist
clients in filling out such documents, in most cases only a licensed
attorney can prepare and revise them.
Negotiations
Since real estate attorneys have vast experience in handling various
real estate transactions, clients might often ask their attorneys to
negotiate or discuss the terms and conditions of real estate deals with
other concerned parties. This involves meeting and working with other
attorneys, brokers, investors and developers.
Transaction Review
Some real estate attorneys might only offer their services only for
reviewing the transactions and giving legal advice – they are not
involved in the preparation of any legal documents. The client will be
responsible for negotiating the deal on their own and signing the
contract and then he may contact the attorney for “due diligence”. This
means that the attorney will examine any documents and contracts
involved in the transaction, including legal title issues, environment
issues or reports. The experience of real estate attorneys enables them
to identify any loop holes or flaws in the contract which the client
might overlook.
Litigation
Real estate
transactions do not always workout as planned and may end up in a
lawsuit being filed. In this case, a real estate attorney will represent
his/her client during the real estate litigation. This will involve
drafting and filing legal pleadings, attending hearings and trials, and
filing appeals if need arises. It might also involve striking a bargain
with the opposing counsel and trying to work out a settlement agreement.
Foreclosure
Some real estate attorneys
might concentrate on cases involving mortgage and trust deed
foreclosure, representing either the lender or borrower. Those who
represent lenders will guide them through the foreclosure process and
help them file a lawsuit in court. On the other hand, the attorneys who
help the borrower will try to spot loopholes in the foreclosure process
or negotiate with the lender to agree for a settlement agreement.
Other than these major responsibilities, a good Phoenix realtor will
handle every case with extreme prudence and work in the best interest of
his /her client.