Five Reasons You Need An Attorney For Your Real Estate Transaction

November 30, 2021

5 Reasons You Need An Attorney For Your Real Estate Transaction

The coronavirus pandemic has made the real estate market somewhat unpredictable. Nonetheless, South Carolina residents have continued buying and selling homes and commercial real estate. Buying or selling property in South Carolina can be an extremely rewarding experience. Whether you are hoping to retire and live in your dream home, invest in a rental or commercial property, or purchase your first home, hiring an experienced lawyer can be extremely worthwhile. 

The process of buying and selling real estate can also be stressful and complicated. You might have many questions, including whether you are making a smart investment. You might also wonder what will happen if the seller or buyer backs out of the deal. If you are investing a significant amount of your savings, you could be wondering how you will be protected if something goes wrong. Hiring an experienced real estate lawyer can help you rest assured that your assets are protected.

Your Attorney Will Offer You Unbiased Advice on Your Real Estate Transaction

If you are hiring an attorney to represent you, you will benefit from the unbiased advice of your lawyer. Lawyers owe their clients a legal duty to protect their best interests. Real estate agents might consider their clients’ interests, but they do not have the same type of legal duty as attorneys. Attorneys owe their clients a duty of confidentiality, meaning they cannot share details about your case with other people without your permission. In other words, your attorney will be able to give you unbiased, confidential advice that is solely in your best interest.

South Carolina Real Estate Transactions are Extremely Complicated

Many real estate transactions are not straightforward. Your transaction could face buy-leasebacks, contingencies, and concessions. Experienced South Carolina real estate lawyers can help you make sure that you understand all of the terms in your real estate contracts. They will thoroughly review your sales contract to make sure there are not any provisions that can harm you in the future. 

Many real estate agents use boiler-plate, generic sales contracts. At Bannon Law Group, LLC, our lawyers ensure that your real estate contract is tailored to your specific transaction and ensures that you are legally protected. Again, your lawyer will have a duty to protect your best legal interests and will focus on doing so. 

The Property Could Have Serious Legal Issues

We have all heard horror stories about people buying homes only to find out that there were serious and expensive legal issues involved with the home. At Bannon Law Group, LLC, we take the time to investigate the terms of purchase, as well as the legal status of the property. If there are easements, liens, zoning restrictions, or title defects, we will find them and make you aware of them. 

Additionally, we will advise you of your options for how to navigate these issues, and whether they are severe enough that you should look for another property. If you do not want to look for another property, we can negotiate with the seller or buyer of the property to possibly offset the expense or challenge of the legal issue. 

We can Help You Save a Real Estate Deal That Might Fall Through

Say you have gotten all of your ducks in a row and put in an offer on your dream property. You are hoping to close in two weeks or less and move into your dream home. Suddenly, an issue arises and it seems like your entire deal will fall through. Perhaps you are a business owner and a property you have had your eye on has finally opened up. You need to buy the property at this exact location, as it is perfect for your business. You make an offer and the seller comes back with an offer that is so high, you could never accept.

In these types of situations, having an experienced lawyer on your side can help tremendously. There is usually a window of opportunity in which you can save a real estate deal. An attorney with extensive experience will be able to help you negotiate a better deal before you consider walking away. If you desire to do so, an attorney can help you get your real estate deal back on track.

Your Attorney can Help You Take Legal Action, Should it Become Necessary

In many cases, no serious legal disputes come up during a real estate transaction. However, there are many different moving parts when it comes to commercial and residential transactions. With all of these, it can be necessary for an attorney to become involved in the process. If your real estate transaction begins to go sideways, your experienced lawyer can help you understand your legal options and provide you with guidance on whether or not you should take legal action against the other party in the transaction. 

You Have a Complicated Real Estate Situation

In some cases, you will need a real estate agent from the start of your transaction. By hiring a lawyer from the outset of a complicated real estate deal, you can help prevent other major problems from happening. Your lawyer will review the situation in an attempt to foresee any problems and respond to problems properly and in a timely manner. These situations include the following:

  • A trust owns the house you are selling
  • You are selling a house due to a divorce
  • A family member is purchasing your property 
  • The property has a lien or judgment against it
  • There are tenants still living in the home

Contact Our Experienced Real Estate Lawyers Today

Hiring a real estate lawyer for your South Carolina real estate transactions can save you significant time and money. At Bannon Law Group, LLC, we have helped many clients in Bluffton, South Carolina, and the surrounding area. Call us today at (843) 865-8922 to schedule your initial consultation.