The need for a real estate attorney

 Real estate attorneys are expensive, this is a given fact. Though, hiring one will certainly stretch your budget, more often than not it is money well spent. A real estate attorney can provide you invaluable advice and guidance in terms of property matters. The following factors will explain how a real estate attorney can actually save you both time and money.

• Contracts - In terms of legally binding contracts, it is always better to have an experienced professional deal with matters of the law. Attorneys will not only negotiate on your behalf, but they will also make sure that the contract adheres to all state laws and address any legal glitches that might spring up during buying and selling.

• Addressing different issues - Real estate attorneys also run title searches whose main purpose is to make sure that the property sold is free of any legal issues. The main aim is to make sure that the seller has the legal rights to sell the property. An attorney will provide this service much quicker and often at less cost, because of their working relationships with such companies.

• Transferring of property - Negotiations in property matters are tough and full of loopholes and an attorney knows the different types of legal boundaries within the state laws. The attorney will also ensure that the contract being considered is consistent with the law and that the terms of the deal do not violate the regulations of any partnership, trust or corporation charter agreements.

• Legal Filings - Real estate deals normally need to be filed in the district and state level. An attorney can do this carefully and efficiently. Also, if the transactions involve a property, where certain types of construction might not be permitted, then an attorney will be able to navigate through the state regulations.

In cases of commercial properties, securing an attorney is even more crucial because he will be able to obtain your tax identification and establish your corporation as a valid business entity for state tax issues. An attorney can also secure your business license through the municipality.

What happens without an Attorney?

Even though having an attorney is not a legal requirement, the lack of one increases your chances of getting sued by the opposing party, in case of failure in disclosure of information. It is an attorney's job to review the home inspection and make all the relevant facts about the property, judgments or defects made known to the opposing party.

Finally, you also run the risk of failing to file all the appropriate documents at the state or district level without an attorney. The following are the prime consequences of not filing all the appropriate documents-

• Improper transfer of a deed can cause myriad income or estate taxes to be levied on the buyer or seller.
• Not filing building permits on wetlands may lead to certain structures having to be rebuilt, or the owners may levy heavy fines.

Having legal counsel helps deal with the legal complexities that come with real estate and helps to protect your interests. Harji Realtors is one of the leading real estate agents in the region of Chandigarh, Mohali and Kharar. For more information on Bajwa Developers and the best Sunny Enclave Flats check our website