In 2018, approximately 6.27 million homes have been sold to date.

For many people, the real estate industry can be a lucrative business. When dealing with money and paperwork, there are bound to be some issues. 

If you’re wondering if you should pay for real estate lawyer fees, keep reading this article.

1. First Time Homebuyers

Buying a home for the first time, while exciting, might be a really stressful process. If you want to ensure you don’t forget about anything and comply with the law and regulations, you should consider investing in a real estate attorney. 

A real estate attorney can walk you through every step and ensure you don’t miss anything down the line. 

They will remind you when deadlines are approaching and ensure you have a fair negotiation. You will also feel more protected so the other party doesn’t take advantage of you.

A closing lawyer will sit by your side during the final step so you can get the keys to your dream home. 

2. Liens On the Property

Paying for lawyer fees might be worth it when you face certain obstacles along the way, such as liens on the property. 

You might be too focused on buying your dream home or investing in your next real estate project to think about checking for liens on the property. 

Hiring an attorney will guarantee a detail this important is not overseen by any of the parties. If there is a lien on the property, you can address the issues right away before negotiations go further. 

3. Handle Complex Filings

For normal people who are not familiar with real estate filings, it can be quite challenging to walk into the office and submit all the forms. 

There may be forms you didn’t complete correctly or missing paperwork and it might all turn into a headache. 

Lawyers, on the other hand, are familiar with these filings and can’t get them done in no time without causing you any inconveniences or many trips to the filing office. 

The filing process can be even more complicated when dealing with a commercial property. 

4. Transfer a Property

A simple buying an selling of a home might not make you want to hire a lawyer, but there are more complex real estate transactions such as property transfers. 

If a corporation or a partnership needs to deal with a property transfer, they might need to have an attorney handle the transaction. 

A lawyer will be aware of all the steps, the state’s law, and other legal boundaries. The last thing you want is to oversee a step and be subjected to liable to other legal penalties down the road. 

5. To Mediate Problems Between the Buyer and Seller

As with any deal, problems may arise at any time during the negotiation process. For example, the inspector discovered mold and the seller doesn’t want to pay for the repairs. 

Maybe you want to move to the home at an earlier date and the seller doesn’t want to do it. 

Whatever the issue might be, a lawyer can help solve the problem before the problem escalates. 

6. Issues With the Title

The last thing you want to hear when you are buying a home is that there are issues with the title. 

You might not know how to move forward after you learn there’s an issue with the title. For example, if the seller owes money or has a judgment against them, they might not be able to sell the home until they address the issues.

While this might be scary for many homebuyers, a lawyer will know how to handle it so you can move forward with the purchase of the more.

If the situation is too sticky, they might suggest you move on to another property.

7. The Home is a Foreclosed Property

Buying a foreclosed home might sound like a good idea when you realize might be getting a great home for a fraction of the price.

However, buying a foreclosed home also comes with a lot more paperwork than you bargained for. 

Before you get too deep in the process, a lawyer can tell you how easy or difficult it will be to go forward with the sell. 

8. Dealing With Investment Properties

If you’re in the business of buying investment properties you might need a lawyer for many reasons. For starters, if you own multiple properties, there might be different steps you need to take in order to purchase the property.

Owning an investment property in a different state might also require a fair amount of paperwork to comply with the filings of that state. 

A lawyer can handle everything for you, so you can move on to your next project in no time. 

9. Commercial Transactions

Commercial real estate transactions are not as easy as a simple home purchase. There are more parties involved, more money on the line, and therefore a lot more risk. 

A real estate commercial lawyer will deal with issues such as liens, zoning, permits, business compliances, and other filings. 

They will ensure you comply with everything so the purchase of the property doesn’t get delayed. Also, real estate lawyers don’t work on commission so they won’t advise you to get a bad property.

10. Buying Land

If you want to build a home from scratch and want to buy land, you might need to enlist the help of a lawyer.

Buying land comes with a new set of requirements. You must comply with environmental checks, zoning permits, building permits, and many others. 

If you get an experienced attorney, they might be used to dealing with those issues and will know how to handle it. Having a lawyer in your corner can save you many headaches.

Paying Real Estate Lawyer Fees: The Bottom Line

Are real estate lawyer fees worth paying for? The answer depends on what type of real estate transaction you’re dealing with. 

If you’re a first-time homeowner, buying land, dealing with a complex commercial property, you should consider getting a lawyer. 

Are you a first time home buyer? Check out this article on red flags to look for as a first time home buyer.