Whether you are investing out of state or just renting out the property next door, finding a good lawyer can help you protect yourself and your business through all aspects of a real estate transaction. The right lawyer will be skilled in the laws and regulations of your area and will be available to oversee the legal details of your business deals. No matter what side of a real estate transaction you are on, whether it be buyer or seller, an experienced lawyer can assist you in a number of ways.
As a real estate investor, you may find it useful to have a lawyer to help decipher mortgage agreements or leases. However, the real benefit of working with a lawyer is that owning investment properties can open you up to a number of liabilities and the right lawyer can help protect both you and your business from any issues.
In that sense, lawyers are invaluable. When considering attorneys fees, you should simply weigh the potential cost of losing your investment properties over a legal issue versus the costs of hiring a trained professional to help ensure that does not happen. Many real estate investors consider hiring a lawyer a necessary cost, and rightfully so.
Here are some of the reasons why every investor needs a lawyer on their team:
* An experienced lawyer often has a strong handle on the local area. By being well-versed in local laws and regulations, the right lawyer can help you ensure your property, and anything done to it, are run in compliance with state and local regulations.
* When it comes to boundary disputes or survey issues in a given real estate transaction, a lawyer will be able to work with your real estate agent to ensure the process goes smoothly.
* During the selling and closing process of a home or commercial property, a lawyer can help analyze the title report and more for the property in question. They are also equipped to handle any unexpected events during the closing process.
* Investors seeking to get started in the world of commercial real estate will find a lawyer especially helpful when it comes to acquiring new properties or managing existing ones.
* Yet another way a lawyer can be of value to your team is during the rehab process. When it comes to hiring contractors, a lawyer can assist you in the creation of an agreement to protect you and your property throughout the process.
* Finally, perhaps the most important reason to work with a lawyer is that they can help prevent your business structure from being open to certain liabilities. By anticipating any legal issues, a lawyer can ultimately save you time and money in the long run.
If you or your company invest in real estate and have questions about how we can be of service, give us a call at 253.858.5434 to set up an appointment today. We represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via Skype or FaceTime.