When Do You Need a Real Estate Attorney?

If you’re attempting to navigate a real estate transaction, you’ve likely already discovered how complex the legal processes can be, even if you’re an experienced property buyer or seller. When you find yourself asking, “What does a real estate attorney do, and do I need one?” you’re already taking the first step to protecting your interests in your future transaction.

At Thomas N. Scheffel & Associates, P.C., we offer comprehensive guidance through each stage of the real estate transaction process. Your real estate attorney in Denver, CO, can help you with everything from verifying the property’s titles to settling potential disputes. Read on to learn more about the crucial role of a real estate attorney.

What Does a Real Estate Attorney Do?

A real estate attorney’s fundamental role is to protect your financial interests during property purchase or sale endeavors. Their tasks involve reviewing, preparing, and filing legal documentation in compliance with state laws. To do so, their job encompasses the following duties:

Contract Review

One of your attorney’s vital roles is reviewing contracts. Your lawyer will thoroughly examine purchase agreements, lease contracts, and other property transfer documents to ensure everything aligns with your interests. They will do this by:

  • Clarifying the sometimes-confusing language embedded in contracts by default
  • Identifying potentially unfavorable terms
  • Ensuring legal compliance in contracts
  • Ensuring paperwork includes the necessary disclosures
  • Verifying that all contingencies protect your interests
  • Reviewing the financing terms and conditions

Aside from verifying contracts, attorneys can explain this legal jargon to you in clear language so you understand your rights and obligations before signing agreements.

Title Verification

What does a real estate attorney do? One key aspect of the job is title verification.

Attorneys conduct in-depth title searches to protect buyers from future ownership disputes. Your lawyer can work with title companies to research the property’s ownership history, identify existing liens, verify property boundaries, examine easements, and discover potential claims against the property.
In doing so, they protect you from investing in properties that might have major complications.

Document Preparation

During the real estate transaction process, you’ll find yourself drafting numerous legal documents that serve key functions for title transfer. Your attorney can help you prepare and review the following items:

  • Property transfer deeds
  • Mortgage documents
  • Settlement statements
  • Property tax forms
  • Transfer declarations
  • Closing documents

Your attorney can have all documents notarized with the required witnesses so you can ensure validity and avoid future challenges when property rights transfer.

Document Closing Procedures

When you’re ready to enter the real estate closing process, you must coordinate multiple parties and meet complex legal requirements. This typically requires support from a real estate attorney with the experience and know-how to oversee the process. Your attorney can:

  • Draft and review the final closing documents
  • Calculate your closing costs
  • Coordinate with your lenders and title companies
  • Oversee your fund transfers
  • Ensure the proper recording of all documents

What does a real estate attorney do? They verify that all conditions of your purchase or sale agreement have been satisfied before you officially close. Before signing that final document, they explain your obligations and ensure you understand everything so no complications or delays arise during the final leg of this lengthy process.

Property Dispute Resolution Support

Real estate conflicts can arise for all sorts of reasons. Maybe you and the other party disagree on the sale price, or maybe you locate a title discrepancy that was not disclosed during the sale process.

When conflicts arise, your attorney offers essential mediation, advocacy, and negotiation services so the transaction can continue smoothly without hindering your rights. From boundary disagreements and contract breaches to construction defects, zoning violations, tenant conflicts, and property damage claims, real estate attorneys are well versed in handling all sorts of conflicts professionally.

Your attorney can even gather witness statements and evidence to support your position during the negotiation, ultimately helping you achieve more favorable resolutions that protect your rights.

Due Diligence

You must conduct due diligence before any property sale or purchase, as this protects you from unexpected issues and liabilities. Your real estate attorney will know how to perform comprehensive due diligence, examining the following:

  • Property zoning regulations and restrictions
  • Building code compliance
  • Potential environmental hazards
  • A property tax assessment
  • Pending legal actions
  • Homeowners’ association rules
  • Buyer or seller financial health

After this thorough review, your attorney will help you understand any potential risks or concerns about the investment so you can make an informed decision before moving forward.

When Do You Need a Real Estate Attorney?

Do you need legal help to buy a property? Typically, yes. Whether buying your first home or investing in commercial property, a real estate attorney can protect your interests and streamline the process.

With that being said, certain situations demand professional legal guidance more so than others, including the following:

  • Commercial property transactions
  • Investment property investments
  • Property boundary issues
  • Construction project purchasers
  • Transactions involving foreclosures or short sales

A glance at real estate law shows that professional legal counsel can protect your interests in these complex situations and any real estate purchase or sale.

Can You Represent Yourself Without a Real Estate Attorney?

Colorado law does not require legal aid for home buyers, but self-representation comes with significant risks. You might sign a contract that does not reflect your interests or accidentally invest in a property with title issues.

Property attorneys are there to protect your rights and financial interests. Working with one can help you avoid common pitfalls and enter your new investment with confidence.

Protect Your Property Rights by Choosing Thomas N. Scheffel & Associates

What does a real estate attorney do? They protect you from legal complications, errors, and mishaps in the real estate transaction process.

At Thomas N. Scheffel & Associates, P.C., our experienced attorneys offer professional real estate transaction support, estate planning, and more throughout Denver. Contact Thomas N. Scheffel & Associates, P.C. at (303) 759-5937 for trusted legal guidance with your real estate matters in Denver, CO.