Lawyers from Colorado Springs practicing in the field of real estate are experts in property buying, leasing, investigation, and assessment. They are also experts in studying and resolving issues about title insurance. They file lawsuits in court and defend you when legal problems arise due to non-compliance with real estate transactions. When you have borrowed money from a lender and defaulted, you may seek their assistance when foreclosure is on the horizon.
Here’s a detailed discussion about the roles of a real estate attorney:
Draft legal documents
One of the primary roles of a real estate attorney is drafting legal documents. Some of the basic documents he can expertly draft include deeds of conveyance, purchase agreements, lease contracts, and financing agreements. Under Colorado state laws real estate agents can assist clients with accomplishing these documents, however, licensed attorneys should be the ones drafting or amending their content.
Real estate attorneys of Colorado are experienced with a multitude of real property transactions. For this reason, clients seek their help when negotiating a real estate deal. A lawyer can help draft the terms of conditions of such deal ensuring that client’s interest is amply protected under the law. To do this, he will also liaise with other lawyers, investors, and agents.
While a real estate lawyer’s role is basically drafting documents, some choose to engage in reviewing contracts and giving legal advice on real property transactions. Clients who are experienced in real estate would rather do the negotiations themselves and later seek the help of a lawyer who accepts due diligence services. Due diligence, in this case, entails a review of legal issues on legal title and environment as well as an examination of reports and contracts related to the transaction. These lawyers have the ability to identify potential issues clients could miss out. The lawyer actually acts as the client’s guardian ensuring that their interest isn’t compromised because of a faulty contract.
Some real estate deals fail and this happens to even the most diligent clients. Parties to the deal gone problematic go to a court to defend their rights. Real estate attorneys enter the picture when they represent clients during litigation proceedings. He will start to write pleadings that are eventually submitted to a judge. He represents clients during trials and hearings and will file appeals when he deems appropriate. He will also negotiate a settlement with the lawyer representing the other party to the transaction.
Guide clients on foreclosures
Colorado Springs real estate attorneys are specialists in mortgage foreclosures. Foreclosures are rampant in times of economic turmoil. A lawyer can either represent the borrower who has defaulted or the lender who is resorting to foreclosure as one of the remedies for such default. Lawyers acting on behalf of a borrower will do all he can to avert foreclosure. On the other hand, a lawyer representing the lender will ensure that foreclosure proceedings are accomplished.