5 Reasons to Hire a Real Estate Lawyer for Buying a New Home

In Dubai, purchasing a property is a worthwhile investment. While, considering the fact that Dubai is a fast-rising global economic hub, so buying a home in this cosmopolitan city could cost you thousands of dollars. It could be also one of the largest investments.

There is also a lot of legal work that you need to do at the time of buying a home. And due to this reason, it is advisable that you enlist the services of professional real estate lawyers in Dubai, or wherever you live. Below, I'm going to share some reasons why you need a real estate lawyer when buying a home.

1. Performing a Title Search
   A title search report is important when buying a new home. It provides details of any liens, easements, and encroachments against the house that you intend to buy. While a real estate agent can perform this task, hiring a professional is far much better. A lawyer will ensure that the house is devoid of any impediments though this search report. Also, the title search report reveals if the seller has the right to sell the house.
   
   
2. Preparation of Legal Contracts
   The process of purchasing a new property involves a lot of legal formalities that a real estate agent can't handle. A real estate lawyer is tasked with preparing all the legal documents including purchase contracts, mortgage agreements, and helping new homeowners obtain a title deed. Preparing a buy contract needs legal expertise that you can only get from a real estate lawyer. They will save you the burden of reading through all the terms and conditions, by giving you a summary of all the legal necessities. Although, it is your responsibility to make yourself familiar with all the terms, before appending your signature on any contract.
   
   
3. Legal Filing
   After buying a property, the law demands that you have to file your documents with the relevant authorities. In this situation, you have to file your title deed with the Dubai Land Department. A property lawyer will be able to do this swiftly and efficiently. If you are purchasing a commercial building, they can also help you acquire your tax identification number in a timely manner. They will also ensure that you are compliant with state regulations that govern homeowners.
   
   
4. Facilitate Property Transfer
   When purchasing a property as a corporate entity, rather than an individual, the legal process involved becomes more complex. This is because there are more parties involved in the purchase. Hiring an experienced property lawyer will help to make things easier. They will not only facilitate a smooth transfer of property from the seller to the buyers but also establish the legal boundaries that don't violate the law.
   
   
5. Closing the Deal
   After everything is done and dusted, a property lawyer will help you close the deal. Closing the deal involves reviewing the sale agreement and appending the final signatures. You should make sure all agreements in writing, for avoiding any possible legal claims or cases against you. A property lawyer will be able to review the documents and also provides legal advice before you append your signature.

Conclusion:

These are some reasons to hire a property lawyer at the time of purchasing a new home. You can find one of the best real estate lawyers in Dubai, or elsewhere, to remove the possibility of any future legal tussles. They are always ready to assist prospective homeowners in setting their new homes by providing legal services.

Sponsor Ads

• Ad Space Available - Rent it Now!

Report this Page

Created on Oct 4th 2020 13:36. Viewed 313 times.

Share on APSense

Comments