4 Common Misconceptions about Real Estate Litigation
A real estate litigator plays a key role when it comes to closing property transactions. They have an in-depth understanding of real estate law, which means they will offer reliable guidance on legal matters that can arise during the property acquisition process. There are some misconceptions about real estate litigators that have posed a major issue, and they need to be cleared.
We’ll now look into four of the common misconceptions revolving around real estate litigation:
1. There is No Need to Involve A Real Estate Attorney Involved in Entire Process Legally
At times, you need to procure the services of a real estate litigator who is handling different real estate processes at a go. In some states in the U.S., an attorney is supposed to be taking part in a real estate closing, whereas real estate agents should be involved in preparing the purchase contracts. Whether an attorney is supposed to be involved in a legal angle is dependent on the state whereby the transactions are taking place.
2. Real Estate Litigators Are Paid Huge Sums of Money to Handle Minor Tasks
The misconception is false. The real estate litigation is not paid huge sums of money to handle little work. The media portrays such professionals in such a manner, and all the allegations are false. For starters, the comparison involves other legal services. The reality is that the real estate litigators usually charge a low fee. Also, the fee charged is worth paying. The real estate litigators handle more work than you can imagine. According to the complexities involved in property law, some expert knowledge is required. Additionally, property law is somewhat archaic. The litigator will be tasked with perusing through numerous records in boxes instead of carrying out an online search, which means finding the right pieces of information for the real estate process is a time-consuming task, and it is complicated.
3. A Real Estate Agent Can Handle Everything a Real Estate Attorney Can
The real estate brokers and agents handle different tasks similar to what a real estate litigator handles; nonetheless, they cannot handle everything that an attorney can handle. The real estate litigator acts like the adjudicator during each transaction. They make sure that everything has taken place as per the law. The litigator is also conversant with the tasks handled by the brokers and agents. For instance, if there are concerns that a purchase agreement has unusual clauses and terms, the attorney will offer legal advice, whereas the brokers and agents cannot offer such services. In most instances, the real estate brokers and agents are compliant, and they normally perform different actions without the need to procure the services of an attorney.
4. The Real Estate Litigator Won’t Make the Closing Deal Easier
The real estate litigation has many skills that the brokers and agents don’t possess. As a result, it is false to state that the attorney won’t make closing the deal easier. When an attorney is involved, they will be in a position to deal with the potential legal issues that arise while closing the deal. The attorney is well suited to spot some of the issues that the realtors overlook. Some of these issues include contract disputes, tax situations, and title disputes. By identifying each of these issues, the process of selling and purchasing the land will be easier.
