Real Estate Transactions Attorney in Los Angeles, California
It seems that no matter where you look or where you live, the real estate market remains competitive, with prices continuing to be high across the state. Also, whether you’re buying a home, selling a home, or negotiating residential or commercial leases, you’ll want to protect your investment and ensure your best interests are being represented. To do this, many people find it extremely helpful to hire a real estate attorney in some capacity during this process.
If you’d like to sit down with an attorney who specializes in real estate law, reach out to us at the Builders Law Group, Inc for dependable legal help. From our home offices in Los Angeles, California, we’re able to serve clients throughout Riverside, Orange, Ventura, San Bernardino, and San Diego counties.
Real Estate Transactions
You may have only considered hiring a lawyer when you’re buying a home, but there are other common real estate transactions for buyers and sellers where a skilled attorney can be an indispensable asset:
Purchasing or selling a home
Purchasing or selling a commercial property
Short sales (note these can only happen with approval from your lender)
Initiating or ending a lease agreement
Purchasing or selling property for investment purposes
No matter what kind of transaction you’re involved in, chances are there’s big money on the table, which means you need to take extra precautions to avoid disputes or errors that can end up costing you thousands (or losing the sale completely). Some common conflicts our firm can help you with include:
Attorney Review Period for Real Estate Transactions
In some states that require a real estate agent to be present at closing, they will also implement a mandatory attorney review period. This allows your legal team to review the final contract and details of the transaction to ensure it’s sound. However, because California doesn’t require the use of an attorney to buy or sell a home, there is no such required review period. That said, if you decide to use an attorney, you will have many benefits.
There is often a contingency period after you make an offer on a home to perform an inspection (typically 7 to 10 days unless you explicitly waive it), and this is a good time to start working more closely with your attorney so you can be in a better place to respond to any issue that comes up.
Why It’s Important to Hire a Real Estate Attorney
Although California state law doesn’t require you to work with an attorney during your real estate transaction as other states do, you should still consider hiring a reliable attorney to help with both expected and unexpected issues:
Negotiating: Negotiations during a real estate transaction typically happen very fast, especially if the seller has multiplier buyers wanting to put in offers. This means you’ll need someone working on your side who has an in-depth knowledge of state and local laws and can provide prompt and educated advice to aid in your negotiations.
Protecting Your Rights: From property rights, to transfer taxes to title disclosures, there is a lot to understand about your rights during a real estate transaction, and a skilled attorney will ensure they’re protected.
Drafting and Reviewing Contracts: Although your real estate agent will be familiar with standard contract language for buying or selling a home (typically using a form called the “Residential Purchase Agreement and Joint Escrow Instructions”), they won’t have the kind of education and experience as an attorney will regarding the laws surrounds these contracts. It’s always in your best interest to work with an attorney at the contract drafting and review stage of the transaction, and this relatively small investment can produce countless benefits down the road.
Identifying Issues: Your lawyer can help you spot legal hurdles and adjust the language of the contract to ensure you’re getting the best deal possible, and you’ll avoid issues that may not turn up until after the transaction is complete. This could be due to titling issues, concerns that turn up after the inspections, boundary disputes, permitting issues, or hidden liens.
Closing the Deal: Many buyers and sellers depend on a predictable timeline for their transaction, and when you’re finally ready to close, you don’t want anything standing in your way. For example, if you want to buy a new home but this is contingent on selling your current one, a lawyer can ensure every effort is made to stay on schedule and close the deal on time.
Real Estate Transactions Attorney Serving Los Angeles, California
If you live in or around the Los Angeles, California, area and are interested in meeting with an attorney and learning more about how they can help you with an upcoming real estate transaction, give us a call at the Builders Law Group, Inc to schedule a consultation.