Looking for luxury homes? You need to make sure you get the right broker (a property agent) who can guide you through to this long and complicated process as smoothly as possible. People don’t often trust their real estate agents and there are a lot of examples showing why they should not.
A lot of people complain they were literally robbed. Most of the complainants have been the home owners who, because of some reasons, refused to work with their previous property agent, and their property ended up being sold for a lot less than its real value.
Having mentioned that, all real estate agents are not the same. If you are searching luxury homes for sale in Toronto, you should call Kevin today who have the best inventory in town. But you may not be that lucky, especially when you live elsewhere.
In order to save yourself from a possible financial loss, you can consult with a real estate attorney who will make sure all your rights will remain safe. Here are some important services a real estate lawyer offers.
- Document Drafting
One of the major job responsibilities of a real estate attorney is document drafting. The kinds of documents prepared by real estate lawyers include:
- Deeds for transactions
- Rental and lease agreements
- Financing agreements
- Purchase contracts
Here, real estate agents will help you fill out these documents according to your requirements. The documents are submitted for review and the attorney reviews and gives his suggestions. Only licensed attorneys can draft or review these documents.
Because of their experience and qualifications, real estate lawyers may be asked to negotiate terms and conditions of particular property deal. For negotiation, your attorney works with the following people:
- Other attorney
Attorneys usually have a lot of experience of this particular area. In fact, commercial contractors and builders take their services to negotiate deals.
- Transaction Review
This is the sole responsibility of a real estate lawyer. In fact, some attorneys only offer this particular service, and it normally happens in residential property transactions. Buyer and seller negotiate a deal and sign contract. Then they ask real estate attorney to review the contract with “Due Diligence”. The attorney would review the following:
- Legal title issues
- Environment issues
- Other related documents and contracts.
If property transactions don’t work out, affected party involves takes the matter to the court. Real estate attorneys represent their clients in lawsuits and perform following duties:
- Draft legal pleadings
- Participate in hearing
- Trial with the judge
- File appeals
- Bargain with opposing party for agreement settlement
Toronto luxury homes can easily put you under a lot of financial debt. Real estate attorneys specialize in trust deed foreclosure and mortgage law. They are hired by lenders and borrowers.
- Attorneys representing lenders guide them through foreclosure process. It may include filing a lawsuit.
- Attorney representing borrowers challenge mistakes in foreclosure process and make lender’s life difficult. They also negotiate with lenders on behalf of borrowers to settlement agreement with respect to foreclosure.