Whether you are selling or buying real estate, you may have heard of some people advising you to hire a real estate lawyer. Some people think that having one only results in unnecessary expenses. However, what they do not realize is that you need a property lawyer to complete your transaction. A lawyer will provide legal advice and will ensure the completion of the transaction while protecting the client’s rights and interests.
Some people understand the value of a property lawyer. However, they do not want to spend more. So, they tend to look for a cheap real estate lawyer in Edmonton. Doing this is not necessarily problematic, but it may not be the best decision too. What you should consider is the credibility and experience of the lawyer.
To help you in choosing the right lawyer, you should be aware as to how important their role is and what type of services they offer.
For the Seller
- Your lawyer can assist you in preparing the purchase contract or in negotiating non-standardized terms.
- Your lawyer will prepare the sale documents, which may include the transfer of land, statement of adjustments for property taxes, rentals, condominium fees, and many more.
- Your lawyer will order the necessary property title searches.
- Your lawyer can take care of the closing of the transaction.
- Your lawyer can be in charge of receiving the proceeds of the sale, paying out required parties, and providing net proceeds to you.
For the Buyer
- Your lawyer could review and explain the contract.
- Your lawyer will prepare all necessary documents, such as closing documents, mortgage, title insurance, and other certificates necessary.
- Your lawyer will take care of the payment to the lawyer of the seller.
- Your lawyer will make sure you get the title free of financial encumbrances that you did not agree to assume.
When choosing, do not just go for a cheap real estate lawyer in Edmonton. Choose the one that offers reliable services. Experience is also a plus. Check out the track record of the lawyer by reading reviews from previous clients. See this article on real estate lawyers to better understand how beneficial having one can be.