While Texas is not a state that requires you to use a real estate attorney in order to purchase property, there are definite advantages to involving such an attorney – both during and after a purchase. In this post, we examine three core benefits a real estate attorney can offer:
Representing your best interests
When it comes down to it, your real estate agent looks out for their own best interests: their sales and commission. A real estate attorney, on the other hand, looks out for your best interests. They can help you avoid one-sided buyer provision agreements and can negotiate on your behalf. They can also uncover and advise you on any potential areas of concern – such as zoning requirements, structural conditions, environmental reports, liens or easements and more. Understanding the full story can help you decide whether a certain transaction makes sense for you.
Tailoring legal documentation
Real estate agents tend to rely on standard form agreements, which often do not adequately cover many of the unique scenarios that are present in real estate transactions. For instance, the seller could back out after accepting your offer. An inspection may uncover significant, necessary repairs. You may purchase a rental property that has current tenants under the lease. You may purchase property that you want to use for different purposes – part residential and part agricultural, for example. Any of these unique scenarios would require tailored legal documents in order to protect your interests.
Even after purchasing property, any number of issues could arise where hiring a real estate attorney could prove worthwhile. You may have a boundary dispute with your neighbor. You could encounter a conflict with your Homeowner’s Association. Your neighbor could install something on their land that qualifies as a nuisance under Texas law, “causing unreasonable discomfort or annoyance.” A real estate attorney can help you to find a favorable resolution to any such problems that arise.
Entering into a real estate transaction with a lawyer is a bit like putting on a helmet and pads before playing football. By equipping yourself with the right protective gear, you significantly lower your risk of pain and suffering down the road.