While looking into career options you may have considered going into the field of law. There are many different types of law that you can go into including, but not limited to, criminal, civil, family and real estate. Real estate lawyers have a specific set of roles and duties that they must perform on a daily basis. These include looking into reviewing real estate transactions, environmental issues, title insurance, appraisals, and inspections. There are also other responsibilities assigned to real estate lawyers.
Real estate lawyers spend plenty of time during the day drafting various important documents for clients and within the firm. The types of documents include contracts for purchases, financing agreements, leases and rental agreements. Real estate agents are responsible for filling the basic information in, but drafting and revising the final copies must be done by a licensed attorney.
Real estate deals are sometimes simple and there isn’t much to negotiate if the purchase and selling price are agreed upon right away. But sometimes the terms and conditions of the purchase and sale aren’t as simple. This is especially true when it comes to looking at the differences in commercial and residential real estate transactions and deals.
Further interest in real estate often leads to working exclusively with the transactions that occur during the buying and selling of property. Clients work between themselves to come to an agreement on the terms of the deal and rely on the attorney to finalize and make everything official and legal. You’ll be responsible for fine-tuning and ensure that the terms of the contract are as they appear. This ensures that your clients don’t fall into traps or get trapped into terms that are unfavorable.
Litigation between Parties
Some transactions don’t work out and unfortunately, end up making their way to the courtroom. Real estate attorneys handle drafting the pleadings, attending hearings, working with the other attorneys to come to an agreement and filing the appropriate appeals if necessary.
Lawyers are responsible for representing both lenders and borrowers. The attorney for the lender leads them through the process, while attorneys for the borrower try to delay the process and challenge legal issues. They can also help come to an agreement to end the foreclosure process.
If you’re looking into going into the field of law, consider all options available to you and what you’ll need to do in your day-to-day employment. Real estate can be an interesting and fulfilling area to put your skills to use.