When dealing with property management in Los Angeles, you might be considering hiring a real estate lawyer to help you deal with LA’s property laws.
When it comes to purchasing or selling a property or learning to invest in real estate, there are a number of ways a real estate lawyer can assist you. A real estate lawyer is a great resource for helping you navigate Los Angeles’ real estate market and property laws, but is it worth it to work with one?
If you’re planning to stay in the real estate game for a long time, working with the right real estate lawyer is a great way to reduce the risk you might accrue if you attempt to go at it alone. A good attorney is an invaluable resource, but before you go about hiring one, it’s important to know:
What Can A Los Angeles Real Estate Lawyer Do?
A real estate lawyer in Los Angeles is authorized to practice law and primarily specializes in property law and real estate transactions. They must be familiar with all aspects of property law, property management, and the entire property purchase process.
A real estate lawyer is licensed to represent buyers, sellers, or lenders in any transaction.
If a lawyer is required to be present during closing, they might be there to represent a buyer’s lender only. If you would like legal representation as well during the transaction, you will need to hire your own real estate lawyer.
While some wait until closing to hire, a real estate lawyer may also be hired earlier in the process, to review brokerage contracts or deal with mortgages.
How Can An LA Property Lawyer Help Me?
Having an LA property lawyer assist you can make a big difference, especially when dealing with multiple-property management.
If you’re simultaneously buying, selling, and closing on different properties, how can you keep track and ensure that transaction is abiding by the letter of the law? Having a real estate lawyer assist you can smooth over the process.
Working with a property lawyer means that someone is there to review your work, especially with regards to the legal side. Dealing in real estate requires you to be familiar with certain aspects of the law, on top of studying the real estate market, learning about mortgage, and more. Delegating these tasks to a real estate lawyer frees up more time for you to oversee the management of your properties. It also means you have someone to back you up and advocate on your behalf if something were to go wrong.
A real estate attorney can also offer you peace of mind regarding your transactions, ensuring that they are all valid after review.
Working with a real estate attorney can be essential to every part of the real estate process.
How Real Estate Lawyers Assist With Purchasing Real Estate:
A property lawyer is an invaluable resource during the process of investing in a new property or purchasing a new home. Some key functions include:
- Ensuring the title of a property states that you legally own a property.
- Keeping in touch with all parties related to the property’s transaction.
- Overseeing the completion of all requirements and conditions stated in an agreement during closing.
- Setting up arrangements for a title’s insurance coverage.
- Making note of deeds and other legal documents and ensuring they are assigned to the correct court jurisdiction.
Apart from the purchasing process, real estate lawyers are also important figures in the selling process.
How Real Estate Lawyers Assist With Selling Real Estate:
If you’re new to selling real estate, a property lawyer can assist you with any questions you might have about the entire process. Working with a real estate attorney means you have someone who can:
- Draft and review contracts for property sales.
- Negotiate with a buyer or a buyer’s agent regarding the terms of agreement on your behalf.
- Look over the title report on a property and ensure that you are allowed to sell it.
- Address concerns that might be found in the title report.
- Examine the statement of settlement prior to the closing process.
Speaking of closing, this is the aspect of the real estate process that a real estate lawyer can assist with the most.
How Real Estate Lawyers Assist With Closing:
Closing on the sale or purchase of property involves a mountain of paperwork and other legal documents to go over. A real estate lawyer is the best person to have at hand to help the buyer and seller navigate the transaction.
Apart from negotiating the terms, overseeing the contingencies, and ensuring that closing is going as planned, a property lawyer might also assist you with mortgage or arranging repairs.
Collaborating with a real estate attorney can provide you with a great deal of help. You might want to consider hiring one to help manage your LA properties.
If you’re looking to work with a real estate lawyer in Los Angeles, The Law Offices of R. Grace Rodriguez is a local probate and estate firm that is happy to work with you! If you are in need of any property law assistance, contact 818-734-7223 or 805-364-0884 to learn more.