Hiring A Real Estate Lawyer

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Introduction

Perhaps you have decided to buy a house, a dream house for you and yours. You finally took the decision to invest your hard earned money to buy a house. Maybe you also decided to spend your next life here, and pass on this beautiful investment to your next generations. 

And who knows if this is just the beginning of your exciting and great endeavor. You have many more to go. 

And of course with spirits in abundance you have also hired a real estate agent to mediate and assist you. 

And you are also convinced with no doubt that if you face any issue during this transaction you will be assisted by your agent. 

Buying a property or selling it is a heavy and risky transaction. This risk may take any form. It may be property fraud, litigation cases, trespass, encroachment, negligence in reviewing the sale deed, forgery etc. 

And in the world where property frauds are at the helm. We do not want you to kill your joy struggling to find ways to get out.

Here comes the role of a real estate lawyer. Even when you approach your agent. All he can do is advise you to hire a lawyer. 

In this blog we will take a  look at

  1. How does a real estate lawyer help you?
  2. Various property fraud
  1. What is the difference between a real estate lawyer and agent?
  2. Do you actually need a real estate lawyer? 

How does a real estate lawyer help you?

Buying or selling a property is not just about transferring the title. Purchase or sale of a property involves complicated transactions ranging from making a Proposal for sale or purchase to closing the deal. 

Various concerns  can be smoothly handled during this process when you actually hire a real estate lawyer. To list out a few. 

  • Helps in resolving legal disputes
  • Helps verify the records submitted by the seller with various government bodies like the local revenue department, local court etc. 
  • Making a sale deed
  • Making adjustments in your favour according to terms of contract
  • Reviewing all documents associated with the deal
  • Zero  chances of property fraud.
  • Makes the deal legally valid and authentic and thereby increasing the value of property for future sales. 
  • Real estate lawyer is an expert in his field and can therefore handle these and other various complexities in a better way. 

These are some very important advantages to list out. You can always approach your lawyer in case of dispute which arises during or even after the purchase of the property. 

Your lawyer is an expert at his task. The legal dispute or litigation or property fraud might be new for the buyer and seller. 

But the lawyer deals with such cases regularly and has enough experience and expertise to deal with the legal disputes . 

Various property fraud

Let’s quickly learn about various popular frauds associated with property. 

  1. Title fraud

This means the seller is not the owner of the property. He may have acquired false signatures and claimed himself as property owners. 

Layout: this fraud is most popular in India where the seller takes money from the buyer by showing some plots in the layout as his own. And diverts the money for other purposes. 

Here comes the role of a real estate lawyer who is an expert and can easily make out these witty tactics of sellers. 

  1.  Rushed sales

Many times, the sellers simply create artificial scarcity. 

Sir/Mam, we have only three units of land left. Hurry up!! 

Many of the buyers fall in this trap. 

  1. Delayed possession

Here, the owner of property or a flat takes full deposits as advance from the owner and then invests it for other purposes. This delays the completion of construction of your flat. 

Real estate lawyer helps you as they set a time limit with the opposite party and completes the process in a speedy manner. 

There are many more frauds like False promises, Assured returns, selling without approval etc. 

Now, let’s look at the difference between a real estate lawyer and an agent? 

Real estate agent: Your agent’s task is only to list and get high market value for the property and arrange the sittings. 

Real estate lawyer: The lawyer assists you in making proposals, Sale deeds, verifying records, preventing encroachment, solving legal disputes, representing you in the trial court in case of dispute etc. 

Do you actually need a real estate lawyer? 

Well, after making you go through all the aspects in detail , the decision completely rests on you (buyer and seller). 

In India a real estate lawyer can be hired at an affordable rate. At least it is worth the price. 

As you are setting up to begin your exciting journey, there should be no more for any mistake. This can actually set off everything even before you make a start.

Having a guide throughout the process will definitely make your task more simple and in an efficient manner. 

But if you are an experienced person in the real estate industry and can perform all the tasks with great ease. Then you need not actually hire a lawyer. 

And here we come to an end. 

We wish you a safe experience! 

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