Common Legal Issues Real Estate Lawyers Handle

Real Estate Law

Once you decide to purchase a home for yourself, you soon find that it is not easy as it appears in commercials. You not only have to research on the type of place you want to buy but also research on a lot of real estate laws that may help you out or cause hurdles along the way. Fortunately for you, you always have the option of hiring a lawyer to handle such legal matters in your best interest.

A lawyer can only understand the day to day legal hassles upon real estate purchase. Seasoned lawyers know of the loopholes in the laws that could benefit you in a way and can ensure your money back in case of a fraud. Some of the common legal issues real estate attorneys handle include the following.

Fiduciary Duties:

Your chosen trustee knows the trust you hold with them. The real estate agent has to make some critical decisions regarding money, and if you feel like your agent has been conning you for some time, you can insist your lawyer on a full investigation. Chances are your feeling is right, and in that case, the lawyer will make sure the agent receives the penalty by law, and you receive the funds you are owed.

Dual Agents:

real estate law

Dual agency is a prevalent issue that occurs in the real estate world. A dual agent is one who represents both the buyer as well as the seller in the market. This double role is mostly for the incentive to earn more money through transactions and to get sellers a good price for their homes. The agent also earns double the commission in a single transaction hence by law is guilty. A lawyer will investigate the agent and uncover discrepancies in his or her accounts.

3. Express Contract:Sometimes the contract details do not match the transactions. In such a case, the agent has stolen the money for themselves, or there is a bigger game at play. The agent cannot neglect any plans that are by law in effect until and unless both parties agree to them. Your lawyer would therefore carefully put your case in front of the judge with evidence of an unfulfilled agreement and ensure that you receive justice.

 

Inaccurate Estimates:

Sometimes the agent might knowingly misinterpret the future prices in the real estate market, which is in their favor as the more you pay, the more of a commission they earn. Usually, a lawyer knows of the trends and can guide you through the details. At the same time, the lawyer will assist you in putting the agent behind bars for wrongly acquiring funds for personal use.

Bottom Line

These are the reasons why you should always research on the real estate agent you will trust with your money. Real estate agents are shrewd and hiring a lawyer as smart as them is playing the cards you need to ensure you get the best of the best.

Contact the best real estate lawyer in NYC at (646) 759-0400

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