Residential Real Estate Attorney Bedford, TX
A home is one of the biggest financial purchases a person will make. Some people may be overwhelmed by the complexity of the process and all the people involved including inspectors, appraisers, mortgage brokers, and real estate agents. Hiring a residential real estate attorney may seem like just another added cost, but it can potentially save you thousands of dollars in the long run by preventing any issues before they can arise.
Do I Need to Hire a Real Estate Lawyer?
There are many states that require a real estate attorney to be present at closing, however, Texas is not one of them. In Bedford, TX, having an attorney is optional, but working with one comes with many benefits.
What Does a Real Estate Lawyer Do?
Real estate attorneys can mitigate risk and help the transaction go smoothly. They deal with brokers, attend the closing of a mortgage when the deed is transferred, review and write purchase and sale agreements, negotiate terms, conditions, and provisions for a residential sales contract and coordinate the execution of the contract.
While the state of Texas doesn't require a buyer or seller to hire a real estate attorney, there are still several situations in which an attorney can be both helpful and necessary.
When purchasing a new house, you'll want to hire an attorney if:
· You need to terminate a contract
· There are tenants in the property and you need advice on the eviction process and how that might affect your purchase of the property
· The area is subject to adverse weather such as hurricanes, tornadoes, or floods
· The property is owned by the bank
· There's an illegal dwelling on the property
· The property has physical damages
You’re dealing with a foreclosure or short sale
If you're selling a home, you'll need to hire an attorney if:
· You’re in the middle of a divorce and need to split assets
· You have a history of property liens
· The property has structural issues
· You’re selling the property of a deceased relative
It’s especially important to speak with a real estate attorney if anything in the home or contract seems dodgy, to avoid any problems in the future.
The real estate attorneys at Mitchell Nachtigal Law are experts at navigating the complex world of real estate law. While Texas does not require a real estate attorney to be involved in home selling or buying transactions, hiring an attorney is still worth considering. Your attorney can help you navigate documents, make informed choices, resolve disputes, and give you much-needed peace of mind that your transaction is airtight. After all, purchasing a home is one of the most life-changing, expensive, and important decisions you'll make. A home purchase is a major decision, and you can't afford to make any serious mistakes. Because of this, it's a good idea to work with an experienced real estate attorney who has an expert understanding of construction on land use laws, zoning laws, subdivision, disclosure fraud, mortgage fraud, and more.
As a buyer, you should speak with a real estate attorney to ensure that the process of the real estate being transferred occurs in a seamless and smooth manner.
The following are some ways in which a real estate attorney can help you as a home buyer:
Title Documents Review
Title documents refer to a paper that defines the legal ownership of any property or asset. Real estate attorneys search and review this vital document on behalf of the buyer. Titles usually include three key elements which are possession, occupation, and legal ownership.
An important area in the transfer of property between a seller and buyer is a title search. Attorneys will ensure that the property that's being sold does not have any issues such as liens or judgments. It's also important to determine if the current property owner is legally allowed to sell the property. Because of this, it's crucial that you work with an experienced real estate attorney who knows how to handle such matters.
Sales and Purchase Agreement Preparation
Sales and purchase agreements are critical documents that encompass legal stipulations. This contract obligates a buyer to purchase the property and a seller to sell the property. It's crucial to note that this type of agreement is usually associated with all types of real estate transactions to ensure that both the seller's and buyer's interests are well-protected. An experienced real estate attorney can ensure that all the terms and conditions of the agreement protect the interests of their client and are valid.
A mortgage is a debt that must be paid back based on predetermined plans. Real estate attorneys can explain the terms and conditions of a mortgage document and contact the lender if needed.
Many homebuyers aren't well versed with mortgages or other types of legally binding documents. Real estate attorneys specialize in handling mortgage loans and all the associated paperwork, which makes the transaction smoother for everyone involved.
Other Filings Processes
With a real estate transaction, recording is an important aspect. Real estate attorneys are qualified professionals who will record all types of real estate deeds at the county level.
Property Transfer Process
A real estate attorney can handle a variety of complicated aspects regarding property transfer, in addition to preparing these important documents to ensure a seamless transaction.
A home buyer requires title insurance before closing. An experienced real estate attorney can offer help in acquiring this type of insurance. An attorney will carefully review these documents, looking for any errors or inaccuracies. Additionally, the real estate attorney will review any tax issues and keep their client updated on their findings.
The last and most important step in a real estate buying process is the closing. At closing, all the documents that are related to the purchase of the property are signed by both parties. The attorney will help their client understand the paperwork involved and complete the purchasing process. After closing, the ownership of the property will be transferred to the buyer.
Hire a Skilled Real Estate Attorney for Your Real Estate Transaction
At Mitchell Nachtigal Law, our experienced real estate attorneys have an in-depth understanding of real estate laws and are legally authorized to review and develop documents and contracts that pertain to the purchase and sale of a residential property. With our attorneys by your side, you can rest assured that you have an experienced and reliable attorney who is looking out for your best interests and one who can guide you through any complications that may arise.
While the purchase of real estate can be a formidable process, one that can be confusing for most buyers, an attorney can help prevent you from making any costly mistakes.
Contact a TX Real Estate Lawyer Today
When you hire a residential real estate attorney to represent you, your attorney is fully dedicated to you and your best interests. At Mitchell Nachtigal Law, our dedicated team of real estate attorneys is ready to provide legal services that can help you resolve any issues related to real property or real estate. Whether it's reviewing documents, performing a title search, or negotiating contract terms and conditions, the team at Mitchell Nachtigal Law will help you navigate this complex process, protect your rights, and give you much-needed peace of mind during this stressful time. Contact our office today to schedule a consultation.