WHY WE NEED A LAWYER WHEN PURCHASING REAL ESTATE
When buying real estate, it is important to know the market, the formation and movement of prices, as well as the reading of the necessary documentation accompanying a transaction. Every good and experienced real estate broker has this knowledge.
However, this is not enough to make sure that we will avoid future problems. The consultation and assistance of a lawyer when buying the property provides you with the necessary legal protection, having more in-depth knowledge of the regulations, the necessary documentation and the risks faced by the buyer during and after the transaction. The lawyer protects only your interests, including by conducting a full investigation of the ownership of the property from the moment when there are ownership documents for it in the Property Register, even if they date back 100 years. It is also important to trace the line of succession up to the time of the transaction in order to avoid the risk of the buyer being removed by a court after its confession.
In the case of the purchase of a newly built property, the lawyer monitors in detail the construction documentation. Inspects the property for encumbrances opposing the future buyer - mortgages, foreclosures, claims, lease agreements, as well as for a documented danger of claims by third parties. The lawyer draws up a preliminary contract or edits one provided by the other party to the transaction by fully protecting the rights of the buyer. Draws up a draft notarial deed, which in essence is a contract between the parties and its content is essential. Attends the conclusion of the preliminary and final contract, thus ensuring the possibility of negotiations and possible corrections and additions to the text of the contracts.
In my practice, I have often encountered problems with buyers, which could have been prevented with timely consultation or assistance of a lawyer during the transaction. Therefore, my advice is always when making a real estate transaction, seek the assistance of a lawyer.
