If you find yourself preparing to buy your first home or a new commercial facility, you may have questions about how the legal system is involved in the transaction. Real estate law is complex and involves adhering to certain regulations, reviewing seemingly countless documents, and taking other steps that you may not fully understand. The good news is that you don’t have to muddle through real estate law on your own.
Below, our team has responded to three frequently asked questions about real estate law to help shed some light on this often-misunderstood topic.
- Do you need an attorney for all real estate transactions? The short answer is yes. Real estate transactions involve contracts, title reports, and other documentation as well as legal jargon that the average buyer or seller isn’t familiar with. You will need a real estate attorney to help you navigate through all the steps of the transaction that you cannot go through by yourself.
- What is a title review? A title review involves establishing who has ownership of the property. For example, there may be multiple people who can claim ownership of a home, which can complicate the buying or selling process. Once an attorney has reviewed a title report, they can let you know what is necessary to resolve any possible conflicts or complications.
- How are commercial and residential transactions different? Although there are several key similarities, commercial transactions have stricter requirements and buyers must do their due diligence before completing the transaction. Residential real estate transactions are usually less complex compared to commercial transactions.
If you need an experienced real estate legal team, contact us here at Bright Law, PLLC today.