Why hire a lawyer when you buy or sell real estate?

Mar 11, 2018 

Written By Samira Kermani

You will never buy or sell anything as expensive as real estate, most likely. Are you going to trust this significant investment, the fruits of your labor, to just a anyone?

What if something goes wrong? Who will take responsibility? Real estate agents routinely disclaim liability by stating they are not attorneys.

It is more economical to invest the time and money to hire a real estate attorney to explain everything and draft protective or advantageous clauses to the contract before you sign it, than to be forced to hire an attorney to seek damages or undo the deal after the fact.  Litigation will cost you much more than preventive care does.

As a Seller, you need protection from exposure to liability which reduces your profit. There are a myriad of reasons why a buyer may sue after close of escrow.  For example, poorly completed disclosures, unclear representations, ambiguous addenda can result in a lawsuit against you for breach of contract, misrepresentation or fraud. Why risk getting sued after escrow closes?  Because I routinely sue sellers on behalf of buyers for various seller wrongdoings, I know exactly duties a Seller owes and what legal protections a Seller needs. Even during escrow, a Buyer may bully the Seller into a new deal or drag out the process.  As an attorney, I’m often called by real estate agents and sellers to step in and enforce the contract where I charge a significant retainer fee.

As a Fiduciary, retaining the right attorney / broker to dispose of your client’s real property helps discharge your fiduciary duties to the Court and/or beneficiaries.

As a real estate buyer, your attorney should walk you through the contract and explain the ramifications of certain terms before you sign. Your attorney should then suggest revisions that would be advantageous to you.  Only an attorney should revise contract provisions who is prepared to defend said revisions in court. Your attorney should then explain the documents found in your preliminary title report, for example how a restrictive covenant may impact your future use of the property.  Better to know before you buy than be surprised after close of escrow.

Your attorney can review your due diligence reports and provide advice specific to your situation to help you avoid nasty / costly surprises that may translate into economic injury and loss after you close escrow.  Protect your sanctuary or your investment.

Samira Kermani, Esq.
KERMANI LAW FIRM
310-475-3400
Samira@KermaniLaw.com