Although Texas law does not require those purchasing or selling real estate to hire an attorney, doing so is highly recommended. Even if you have enlisted the help of a knowledgeable real estate agent, seeking out a real estate lawyer carries several advantages. For starters, the Texas Real Estate Commission, the entity that oversees real estate contracts and transactions, expressly prohibits real estate agents from providing legal advice. Additionally, it’s useful to recognize that real estate agents do not receive compensation until the deal closes, meaning that they may prioritize their financial gain over your best interests. In contrast, attorneys are expected to provide objective counsel and defend their clients’ best interests. As you navigate a real estate transaction, your lawyer will minimize your risk and look out for any vulnerabilities or potential issues on the horizon. With a significant amount of money on the line, why not do everything you can to protect your finances and liabilities? Retaining legal counsel is the way to go.
What Paperwork is Involved in the Closing Documents?
As you near the finish line of your real estate transaction, you may be surprised by the stacks of papers you will need to review and sign. A typical real estate transaction involves several types of closing documents, including any loan documents for the buyer (which can run between 50 to 100 pages). You can also expect to review the HUD Settlement statement that indicates the sales price and all deductions, credits, and the total. Documents pertaining to tax obligations and considerations, Title company disclaimers, and other relevant documents may also be included in the closing documents. Your real estate attorney will help you review and understand the implications of the documents you sign, answering your questions as they arise.
I Think My HOA's Policies are Unreasonable and Potentially Violate Texas Property Laws. What Should I Do?
While Homeowners Associations (HOAs) do enjoy certain legal rights, there are limits to what they can require of their residents. If the HOA’s mandates appear to violate your rights as a property owner, you should reach out to an experienced and trusted real estate lawyer for guidance. Your attorney will assess every detail of your situation and help you determine the most strategic path forward.
Should I Hire an Attorney When Starting a New Business?
There is no law that compels new business owners to hire an attorney, but doing so carries several benefits. For instance, an attorney can help you understand the steps you need to take to launch your new venture with the strongest foundation possible. It’s easy for new business owners to overlook certain steps or considerations, so working with a business lawyer is the best way to identify potential oversights and minimize the potential for future legal disputes.
I Want to Start a Construction Project. What Should I Keep in Mind?
If you are interested in initiating a construction project on a property that you currently own or are thinking about purchasing, there are several things you should know beforehand. Construction projects typically involve securing permits and navigating zoning laws, so it’s best to consult with a real estate attorney to ensure you proceed as smoothly and efficiently as possible.
More Questions? Fields Law Has Answers.
If you have questions about a real estate, HOA, business, or construction matter in the Austin area, call Fields Law today at (512) 214-1771 to speak with a knowledgeable and caring attorney.
