Looking at how narrowed the vision is that people associate with real estate lawyer, Asaf Izhak Rubin weighs in to talk about the 5 ways these professionals can make a difference. Some people believe that having an honest real estate agent is enough for them to close a deal when that’s not the case. You can’t overlook the fact that a real estate agent is representing both parties and closing a deal is their objective. On the other hand, closing the deal without problems is the aim of the lawyer.
Let’s take a look what one of the experts of the industry has to say about the usefulness of a real estate lawyer.
Getting You the Right Price
It is important to make the distinction here that a lawyer can represent you whether you are selling the property or buying one. When you are buying a property, the lawyer can make sure that you pay only the price that is exactly according to the market price. The lawyer you hire will work with you to know the market price and make sure you don’t pay more than what the property is worth. In the same manner, a lawyer can represent the property seller as well, making sure they get the right price for their house per the market price.
As someone who is going to sell the property for the first time, you can’t really know the many factors that play an important role in deciding the price of your house. A lawyer can make sure that even if you have an agent representing you, they don’t close the deal at a lower price only to close the deal.
Thwarting the Real Estate Frauds
Whether you are about to buy a residential or a commercial property really does not matter. Both transactions can involve frauds and these frauds can be costly. To make sure that you close a legitimate deal with a legitimate property owner, you have to have a lawyer on your side. The biggest problem that you have to know here is that frauds are not only a few and limited. There are many different types of real estate frauds so even if you know about a few, there are chances you might end up being trapped in a completely new one.
In residential real estate, you might have someone trying to sell you a property without a proper title. In commercial real estate, you could end up buying a piece of land that is not the ownership of the person selling it to you. There might be a stay order on building anything on that piece of land or you could be buying a building that’s a building code nightmare.
Shortening the Transaction Time
A big issue that a lot of people are completely unaware of when they invest in a property or are selling one is the time it might take to close the deal. For some people, buying a house might not take more than a month. For some other people, they might end up fighting the case for several months before they get to own the property. Title and ownership issues are very rampant in the real estate market and resolving those matters can get you in an ever-going cycle of procedures.
If you want to get through it all fast, you have to have the right people by your side. Asaf Izhak Rubin says that having a real estate lawyer represent you in the case can help you close the deal in less than half the time it would take without the lawyer. This means you can focus on other important things and start your business or begin living in your house before it’s too late.
Clear Development Doubts
Starting a development project can be the biggest challenge you have to overcome. Building a house is one thing, starting an entire project of building many houses is a completely different story. Unfortunately, you can’t expect to get lucky in these situations. When you are beginning a real estate development project, you have to have due diligence and make sure you complete all the processes that are involved. Keep in mind that you have to buy a piece of land, fulfill any government requirements, get clearance for the installation of water and gas pipelines, etc.
Supplying your development project with electricity is another big issue. Then there are many other real estate issues inherent to the real estate industry. Having a lawyer with you means you will not have to visit local government offices and officers for months. You can start your project and complete it within the deadlines that you have set.
Preventing Family Disputes
When someone leaves a big estate for their heirs, things can get rough in the family. Any ambiguities on the heirs of the properties and who gets what can cause huge rifts in the family. The transfer of title to the right owner as per the will can be a very long process and requires due diligence. Sometimes, the person who is to receive a property is not of the age of inheriting the property. In that case, the title and ownership of the property have to be kept safe until the person who has been bestowed the property reaches the legal age of ownership.
In some cases, the deceased person leaves a very unplanned estate and will. They want to show their love to everyone and in doing so, they end up giving different people different titles of the property. Such situations can destroy family peace. A lawyer can restore peace and make sure everything is done properly, legally, and professionally.
The true value of a real estate lawyer can only be obtained when you have hired one before the process starts. When things have already become ugly, it is hard to make them better. Asaf Izhak Rubin believes you should hire a real estate lawyer not for things that have gone wrong, but those that could go wrong.