If you own real estate, you are wise to secure the services of real estate attorneys in Santa Barbara, CA. Lawyers who handle property conveyances or real estate transactions can assist investors and homeowners in a variety of ways. When you buy a home, the transactions can become quite involved and laborious, which makes it helpful to have an attorney waiting in the wings.
The Most Significant Buy You Will Ever Make
Purchasing a home is probably the most significant purchase you will ever make. It also involves real property law, which is not only unique but raises certain issues or questions that are not present in other legal transactions. Real estate attorneys are trained to oversee these transactions, so that any real estate exchange is more efficiently handled and managed when they are involved.
For example, in a normal home purchase, the seller enters into a contract or written agreement with a real estate agent. When the broker finds a purchaser, negotiations are made through the broker, who is acting as a financial intermediary. Once an agreement is reached, the seller and buyer enter into a formal written agreement covering the sale, known as the purchase agreement. The buyer, in turn, obtains a commitment for financing the property while the title is searched to satisfy the buyer and lender’s requirements. Lastly, the seller transfers the property to the buyer, and the seller then receives compensation for the purchase.
Why You Need an Attorney’s Help
The above process may not seem too complex. However, without real estate attorneys, the consequences of such a transaction can become quite complicated and confusing. A lawyer can help the purchaser and seller avoid some of the problems that can occur during a home purchase or sale. For instance, a seller may sign a brokerage contract that does not address certain legal issues. This can happen when a realtor uses standard forms instead of a personalized form. Often times, the realtor believes that the boilerplate document can be customized for unusual events, which is not the case. Regardless of whether an error was intentional, these types of mistakes can unnecessarily prolong the process.
Make sure you have a partner on your side during any type of real estate activity. Aligning yourself with a firm of real estate attorneys, one that is committed to real property law, will help you avoid any legal complications.
