Real Estate Law FAQs
If you’ve ever leased a property, purchased a house or condo, or subletted an apartment unit, then you may understand how complex real estate transactions can be. There are many legal implications that accompany the purchase, sale, and leasing of a property. At Schnell Hardy Jones LLP, our team of real estate lawyers in Sylvan Lake and Red Deer want to help bring some clarity to your real estate legal needs. Below are answers to a few questions we get asked the most about real estate law and the legal terminology that real estate transactions involve.
Question #5: Do I need a lawyer to help me buy a property?
While there is no law requiring you to retain a lawyer to carry out a real estate transaction, the process of completing a real estate transaction on your own can be quite complex and time-consuming. There are many documents to prepare properly with specific wording by a specific time and there is more work if a mortgage is involved. One of the benefits of working with a lawyer is that he or she can arrange title insurance for you. Title insurance can protect you against financial loss from defects in title to the property.
A real estate lawyer in Sylvan Lake and Red Deer will also be able to help you understand the implications of the terms of the contract you sign and help you negotiate to include or revise any terms that are unsatisfactory to you. A real estate lawyer will typically charge a set fee, and the expenses associated with failing to understand your obligations under a real estate contract can be far greater. If you act without fully understanding the terms of your agreement, you may end up in litigation with the other party to the contract in the event of a dispute. Disputes are far more likely when one or both parties do not fully understand the legal implications of a purchase, sale, or lease.
Contact Sylvan Lake’s Schnell Hardy Jones LLP for a Real Estate Lawyer
Our real estate lawyers have the experience to provide you with guidance and assistance with your real estate law needs. We can help to ensure that you are confident and content with your purchase, sale, or lease. Contact us for your real estate law consultation in Sylvan Lake, Stettler or Red Deer.
