Suffolk County Real Estate Lawyer Providing Quality Legal Services for Buyers and Sellers in New York
Whether you are a first-time home buyer or an experienced seller looking for your next home, a real estate attorney can provide you with essential legal advice and services to protect your interests and represent you during a real estate transaction. Learn the role a real estate attorney plays during the sale or purchase of a home and why you may want to hire the Law Office of Gina M. Pellettieri, PLLC to represent you.
What Does a Real Estate Attorney Do?
Real estate transactions can be surprisingly complex in the state of New York, and every step must be taken carefully to protect your interests as a buyer or seller. While a real estate agent plays a key role in helping buyers or sellers navigate the real estate market, being able to count on the knowledge and skills of a real estate attorney can be invaluable to help your transaction go smoothly and to resolve any issues that may arise along the way.
While a real estate agent guides sellers through the process of putting their home for sale and determining a fair sale price and guides buyers through the steps needed to find a home they like and make an offer, a real estate attorney focuses on the legal technicalities of a real estate transaction, such as contracts, deeds, property taxes, titles, and zoning. A real estate attorney can prepare and review documents and contracts required for closing the sale, overseeing the entire transaction to ensure it is being handled correctly, and providing legal advice and representation in case of any disputes.
Are You Required to Have an Attorney to Buy or Sell Real Estate in New York?
In some states, you may not be required to have an attorney in order to buy or sell real estate. However, in the state of New York, real estate agents and brokers are not legally allowed to write sales contracts or review them in order to provide you with legal advice. Because a sale contract is a required step in any real estate transaction, most sellers turn to a real estate attorney for help drawing up the contract. If you are the buyer, in this case, and choose not to have an attorney represent you, you may be risking giving up your interests and signing a contract that only favors the seller.
Entering into a real estate transaction without being represented by a real estate attorney is very difficult, and there are many reasons for that. First, you might be putting yourself at legal or financial risk by signing a contract that was not scrutinized by a real estate attorney first. Second, if you are planning to get a mortgage, you may find it nearly impossible to get a financial institution to agree to lend you money if you are not currently being represented by an attorney. Finally, an attorney plays an essential role in negotiating a fair deal and assisting you through the closing process.
What Are the Responsibilities of a Real Estate Attorney?
The main responsibility of a real estate attorney is to protect their client’s interests at every stage of a real estate transaction and, if necessary, represent that client in a litigation setting. When it comes to routine real estate transactions, a real estate attorney has the knowledge and skills to draft documentation and review contracts, always monitoring risk and guarding the interests of their client, and providing legal advice whenever needed.
A real estate attorney has in-depth knowledge of real estate laws and contract laws affecting each transaction and can guide clients whenever a dispute arises. In the event of a dispute, an attorney can employ their negotiation skills to try and settle matters outside of the courtroom or, if necessary, represent their client in a courtroom trial. In the end, the role a real estate attorney can play is invaluable. It is best to be represented by a seasoned real estate attorney from the beginning rather than trying to figure it all out on your own, only to end up needing an attorney to resolve a dispute later on – which may end up being a more expensive headache that could have been avoided.
Is It Better to Hire a Title Company or a Real Estate Attorney?
While a title company can provide what is needed in terms of documentation and title insurance necessary for the closing stage of a real estate transaction, the title company cannot provide you with any legal advice or assist you should there be any legal issues arising with the contract. That includes protecting your interests if any post-sale issues arise and representing you in court. Only a skilled real estate attorney can do those things for you and much more.
While many people may choose a title company thinking that they will be saving on costs, the truth is that the cost of hiring a real estate attorney is comparable to that of hiring a title company, with the added benefits of peace of mind and legal representation to protect your interests during and after the sale is completed. At the Law Office of Gina M. Pellettieri, PLLC, Attorney Gina M. Pellettieri, and her legal team have been representing Suffolk county buyers and sellers for several years and can provide you with the legal services and advice you need to complete your real estate transaction or settle a dispute. Contact their office at 631-250-3698 to learn more.