Real estate attorneys represent both parties in a transaction – the buyer and the seller. Each party has a lawyer to safeguard their interest on every front – finances, title transfers, tax guidance and even surveys. Like any other branch of the law, a real estate lawyer in Denver should have a solid grasp of not just local laws but also the insights into assessing the other party.
Roles played by Real Estate Attorneys
On behalf of the seller: Usually, issues that have to be dealt with on behalf of a seller are far fewer. Sellers often want the sale of their property to go through on an “as is” basis. A seller’s attorney has to ensure that the paperwork is in order and ensure that the transactions costs allocation is discussed in advance. The lawyer has to make sure that the client understands tax implications of a sale. He should also ensure that the purchaser is serious and has the funding to buy.
On behalf of the buyer: A buyer’s attorney in Denver such as Miller & Steiert, P.C. has some tasks on hand. He has to ensure that the property is priced right; that there is no lien on the property, whether there are warranties available on the home if the property is still being advertised after the contract has been signed etc. A real estate attorney in Denver and any other city has to ensure that a survey is done to clarify the size and location of the property. As part of the process, an environmental assessment may also be necessary especially if there have been problems in a particular area.
As long as a buyer has the financing in place, the attorney can take care of the rest on his own for a fee. He has to make sure that the contract has covenants to ensure that the seller will cooperate and file all the required paperwork, and also satisfy lender requirements.