Friday 27 February 2015

Three Stages of Real Estate Deal



Many people think that a real estate deal is just like buying a car. You go to a dealer, sign the documents and then leave with your car. This perception is the root cause of the issues many people face in real estate deals. A large number of these problems could be avoided if a real estate attorney supervises the deal and its various stages.

It is important to understand that any real estate deal has three stages. The deal progresses through these stages in a set pattern. At each stage, the presence of a real estate attorney San Diego helps each party protect their right.

The first stage is the initial contact. At this stage, the buyer contacts the seller and expresses their interest in procuring the property. In many cases, this stage is carried out remotely with little or no contact between the parties. At this stage, the lawyer evaluates the claims of the seller and the title of the property.

The second stage is the agreement. This stage is very critical because the parties sign a contract that becomes a binding legal obligation. This is the stage where many people request the services of a real estate attorney San Diego. The lawyers study the contract and highlight any clauses that might hurt the interests of their clients.  Once the contract is signed, many people make the mistake of disengaging the services of the attorney.

The final stage of the real estate deal is the actual transfer of the title and related issues. This is where the money changes hand the property is transferred to the new owner. A competent real estate attorney San Diego is the right person to supervise the process to ensure that the legal requirements are met and that their clients receive the best possible services under the circumstances.

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