Hiring a real estate lawyer might not be necessary if you are signing a monthly rental lease, or buying a residential property. However, there are some circumstances when hiring a real estate attorney becomes very important. Sometimes this is required by State Law as well, such as when you are handling a commercial space agreement. Below are some instances when you would need the help of a real estate lawyer in California.
When the Real Estate Arrangement are Too Complicated
Some property deals are very complex, and require proper knowledge in the field to figure out the best way to negotiate and review the transaction. A professional involved in real estate business can be of great help here, and assist the buying/selling party in better understanding the pros and cons of the transaction. Issues with titles, mineral or surface rights, disclosure, and tax concerns could be dealt with in an appropriate way if a reputed real estate lawyer was by your side.
When Disputes Arise and Lead to a Lawsuit
It is seen sometimes that one of the parties involved in a real estate transaction fails to comply with the terms and conditions stated in the agreement. In such cases, there may arise a need for litigation, and this is applicable to residential properties as well. At times, there could be disputes regarding negotiations too. In all such scenarios, a real estate attorney can help you proceed with care and caution, so that you get the rightful compensation as applicable.
When Involved in a Commercial Property Transaction
Commercial property deals typically involve a lot of money, and in these, the amount of risk too is very high. Seeking assistance from someone who is well versed in the area can help eliminate or at least reduce chances of making a mistake. There are lots of factors to consider when buying or selling a commercial space, which are not applicable to residential properties, such as zoning issues, legal description accuracy, environmental concerns, liens, structural conditions, easements, and any rents associated with the property. Owner(s) of a disputed property may not always be familiar with such things, so it makes sense for them to hire a real estate attorney for help.
Such lawyers specialize in all types of real estate transactions, and yet do not work based on commissions the same way as real estate agents do. At any rate, one would not push a property which was not in the best interest of his/her client. Instead, the lawyer would work on clarifying all the legal aspects of the deal in order to ensure that the property is represented accurately. Moreover, if any discrepancies are found, the attorney would also help with the required legally proceedings you wish to start off.