Real estate legal requirements can be quite complex, and it is advisable for buyers or sellers to seek professional assistance when planning to conduct real estate transactions. Real estate lawyers are specialists in the technical aspects of the statute and local ordinances that make up real estate law. They lead their expertise to resolve roadblocks encountered in a real estate impasse. However, most real estate transactions work smoothly, and the need for real estate lawyers during negotiations is not necessary (Huber et al., 2013).
Real estate agents are also specialists in their field and are conversant with all the requirements needed to close a real estate transaction. Furthermore, they often belong to professional bodies that are mandated to license qualified individuals as per the industry guidelines. These professional organizations monitor their members to ensure that they provide services that meet or surpass requirements of the law. They organize seminars and training where members learn and keep abreast of changes in laws that directly affect the real estate field. They further acquaint themselves on contracts that are prepared by lawyers and exchange ideas on industry best practices (McKenzie et al., 2011).
Delegate your assignment to our experts and they will do the rest.
Most real estate brokerage firms often engage lawyers in preparing the contracts or go over contracts and other documents. This process ensures that all documents meet expectations of the client as well as the law. They ensure that the relevant documents have are signed and that the client will not suffer liability. Therefore, since the real estate agent tends to handle most of these issues, it is often not necessary to have a lawyer when completing real estate transaction. For instance, in the state of California, no mandatory legal provision requires a lawyer present during completion of a real estate transaction. Such a requirement would be an infringement on individual rights (Huber et al., 2013). On the other hand, paralegal also tend play a critical role regarding real estate transactions. Some of their duties may include; completion of promissory agreements, preparing closing checklists, conducting research and completing legal descriptions of property, among others.
References
Huber, W. R., Tyler, K., In Cunningham, J., & In Knight, D. (2013). California real estate law .
McKenzie, D. J., Brady, M. E., & Estes, E. (2011). California real estate principles . Florence, Ky.: Cengage Learning.
