What documents and contracts should a residential real estate lawyer review?

residential real estate lawyer should review various documents and contracts to ensure the legal protection and best interests of their clients. These documents typically include

Purchase Agreement

This is the contract between the buyer and seller that outlines the terms and conditions of the property sale, including the purchase price, closing date, contingencies, and any special provisions.

Title Documents

These include the title deed, title insurance policy, and any relevant title searches or reports. The lawyer will review these documents to ensure that the property has a clear title, free from any liens, encumbrances, or legal issues.

Mortgage or Financing Documents

If the buyer is obtaining a mortgage or financing the purchase, the lawyer will review the loan agreement, promissory note, and other related documents to ensure the terms are fair and favorable for the buyer.

Homeowners Association (HOA) Documents

If the property is part of an HOA, the lawyer will review the HOA bylaws, rules, and regulations to ensure the buyer is aware of any restrictions, fees, or obligations associated with the property.

Inspection Reports

The lawyer may review inspection reports conducted by a professional inspector to identify any potential issues or defects with the property. This helps the buyer negotiate repairs or adjustments to the purchase agreement if necessary.

Disclosures

Sellers are typically required to disclose any known defects, issues, or material facts about the property. The lawyer will review these disclosures to ensure they are accurate and complete, protecting the buyer from any hidden problems.

Closing Documents

These include the settlement statement, closing disclosure, and other paperwork related to the property transfer. The lawyer will review these documents to ensure accuracy and compliance with applicable laws and regulations.

Lease Agreements

If the property is being purchased with existing tenants, the lawyer may review lease agreements to ensure they are valid, enforceable, and favorable for the buyer.

Construction or Renovation Contracts

If the property is under construction or undergoing renovations, the lawyer may review contracts with contractors, architects, or other professionals to ensure the terms are fair and protect the buyer’s interests.

Easements and Right-of-Way Agreements

The lawyer may review any easements or right-of-way agreements affecting the property to ensure the buyer understands any shared access or usage rights.