When it comes down to it, property law can be a bit complicated. There are many documents to execute and inspections to pass prior to even buying a house. It’s easy to become overwhelmed and vulnerable throughout the process.
This gives rise to the need of working with a knowledgeable professional. If you’re purchasing a home or simply inheriting one, make sure that you are working with a New York real estate attorney who possesses a solid command of property law.
Below, we have outlined the top 7 reasons for hiring a lawyer to help you through complex real estate transactions:
1. A Lawyer Can Clearly Explain the Process to You
Working with a competent lawyer will guarantee an unbiased explanation of your given situation in a comprehensive manner. Perhaps you have been reluctant to ask your real estate agent a question, or you are completely lost trying to understand an agreement. Your lawyer can articulate things in simple terms and clear up any confusion.
2. You Need Someone to Give You Legal Support
Ill-intentioned people are everywhere. Avoid snakes in the grass by retaining or contracting with a real estate attorney in New York. As a represented party, you will have to ensure that you inform your business associates as such. It’s empowering to slip into conversation, “Okay. I will discuss that with my lawyer.”
3. Some States Require You to Have A Lawyer… New York Is No Exception
There are a number of states that require a buyer to have a lawyer on-hand. Even if this seems unnecessarily burdensome, it’s in your benefit to do so. Roughly 15 states impose this rule at present, and New York is on that list.
4. Inheriting A Property Is More Difficult Than It Sounds
Many individuals-in-passing honor their loved ones by leaving them with their prized possessions: including their property. If you have recently inherited a relative’s home, you will find working with a lawyer provides peace of mind during a difficult time.
5. Eviction Cases Can Be a Nightmare on Your Own
When a property manager in New York wants to evict a renter, it can take months to be rid of a nuisance. Some tenants will refuse to leave the premises, especially if they strongly believe that have a right to continue living there.
Working with a landlord-tenant attorney will put you in the power position by helping you stay informed of your rights and aware of potential pitfalls that can arise in this situation. He or she will be able to advocate on your behalf effectively.
6. Working through A Foreclosure Is Much Easier
Foreclosures are rough for everybody involved. Banks tend to play hardball when someone is about to lose their home. Considering that these legal scenarios have a strong psychological connection, it is difficult to represent yourself alone. Don’t do it.
7. Contracts Fare Better when Written by An Attorney
In order to have a strong legal contract, whether it’s a lease, an agreement of sale, or any sort of residential or commercial property contract in between two parties, you should have a well-drafted document. Anyone can download a generic template online, but only a lawyer can tailor it to your situation.
Finding the Best Representation is Key
As you can see, there are many reasons to hire an attorney with regard to real estate matters and transactions. The cost is less than you would think, and it will pay dividends for many years to come.