The importance of a real estate lawyer Oshawa is known to everyone in the region. However, not everyone realizes the duties that a lawyer can perform once hired. The following information helps to understand the duties handled by a lawyer for the clients.
Preparing documents
Real estate agents are good at only talking their way through the customers and are not capable of understanding legal procedures at all. There would be many legal documents involved in a real estate transaction including agreement of sale, agreement of purchase, finalizing documentation and property title documents. All these legal documentation is only possible with Thomas & Effraim Lawyers who have years of experience in the field. The documentation is tailor made for the understandings of both parties and ensures equality during the transaction.
Due Diligence
If there is documentation for an agreement, it should be made sure that they are proper. The process is quite burdensome and requires time to complete. The lawyers from real estate law firms in Oshawa are capable of examining the documents to ensure that the writings are fair and have no litigations. In addition, due diligence would include inspection on title insurance, researching about the property history, presence or absence of liens, presence or absence of tax bills, etc. The lawyer will give approval to the client to proceed only after taking care of all these aspects and securing everything.
Avoiding possible dangers
There are many common pitfalls and mistakes that go unnoticed till the day of registration or transaction. When recognized, they result in either postponement or cancellation of the agreement. The identification of such minor problems can only be done by a real estate lawyer Oshawa. Once such problems are identified it becomes easy to rectify and make an accurate agreement. For example, if the seller does not disclose unintentionally or intentionally about a pending tax bill then the buyer needs to pay it once the transaction is complete. These are small mistakes that occur in almost every transaction and the presence of a real estate lawyer is the only way to overcome these dangers.
The Closing
The fine details worded in a closing agreement are very important. It is not just about scribbling something a buyer or seller understands. It is about preparing a legal document giving complete rights of a real estate property for the buyer from the seller. The closing paperwork needs to be thoroughly analyzed and needs to be verified by both the parties. The lawyer helps to prepare such documents and do last minute changes based on the interests of the parties. The interest of the client will never go out of equation and the lawyer would ensure that the closing document will result in an outcome that is great for the client. Further, such closing agreements will ensure that there would be no money or time loss in the future.
As it can be observed, lawyers from real estate law firms in Oshawa are capable of handling anything that is related to real estate. Now that their duties are known, please do not hesitate to hire a real estate lawyer while thinking of a transaction.