Buyers and sellers often get their real estate deals wrapped up and sign on the dotted line before heading to a lawyer. While in some situations things go smoothly, in others the transactions turn askew which leaves one side with a legal or financial stress that could be avoided if a real estate lawyer was called upon earlier. It is therefore important to hire a real estate lawyer to help you during the process of buying or selling a property or rental. The real estate lawyer will protect you and also help you close the deal without a hitch. Here are some of the reasons why you should hire a real estate lawyer before signing the deal.
To protect your financial interests
Leases are usually written by the landlord or his attorney. Whichever the case, the lease will be representing the provisions conclusively favoring the landlord. When there is need for you to sign a commercial or residential lease to acquire your home, you will need the help of a lawyer. The lease can be having transactional wordings such as encroachment and easement which may be the root sign of trouble. A lawyer will work for hand in hand with you to ensure you clearly have a thorough understanding of the stipulated terms before you sign. This will be to your advantage in case the landlord had planned to capitalize on your ignorance.
For accuracy during the lease
There are more complications associated with leases, and still, mistakes could be made by the landlord. Hiring a lawyer will help you detect such instances in the processes. The real estate lawyer will ensure that the terms of the lease are the ones you had agreed to prior. The monthly payment and space listed will be verified to be as agreed. The real estate lawyer can even go further by specifying the financing that you want as the buyer.
To ascertain the landlord will not rent to your competition
For commercial leases, it is essential that the landlord does not rent other spaces in the same block to your competition. This will be unfair to you and therefore should not be allowed in the lease. Hiring a lawyer will help you avoid such uncertainties and inconveniences. Your lawyer will make sure your lease has a provision that such from happening. Moreover, there will also be a provision for remuneration should such a thing happen.
For legal issues
Real estate agents are good at negotiating and contracting sections of the process but not legal issues. When legal issues arise, your real estate agents may not be able to answer. You, therefore, need a real estate lawyer who will help make judgments on legal questions whenever they arise. For instance, if you would like to rent a home for a longer period before you get the obligation to buy it. You will, therefore, need advice on legal procedure required which you can get from the real estate lawyer.