what kind of lawyer for a bad real estate transaction

If you believe you have been wronged by your real estate agent, you should immediately consult with a skilled and knowledgeable real estate attorney in your area. An experienced attorney will help you understand the specifics of your case, and help you determine if you have a valid legal claim.

Full Answer

What does a real estate attorney do when selling a house?

 · This type of lawyer should be well versed in dealing with immigration issues such as visas, citizenship, refugee or asylum and green cards. Criminal Lawyer. ... Whether it's handling a real estate transaction, setting up a business, or dealing with a family law issue, there are a vast number of situations where the experience and expertise of a ...

What should your realtor do to help you avoid illegal practices?

 · The top 7 claims against real estate agents include: Real estate fraud. Breach of duties (especially if these are listed in a broker agreement) Contract violations. Negligence (failing to use reasonable care when conducting transactions) Damage to property (for instance, during an appraisal or when inspecting a home) Misrepresenting property ...

What kind of lawyer do I need to solve my legal problem?

 · If you believe you have been wronged by your real estate agent, you should immediately consult with a skilled and knowledgeable real estate attorney in your area. An experienced attorney will help you understand the specifics of your case, and help you determine if you have a valid legal claim.

What to do if your real estate agent is wrong?

 · master:2022-04-19_10-08-26. Fortunately, a home buyer has certain remedies available if a seller wrongfully fails or refuses to perform the obligations under a contract for the sale of real property, including: money damages for breach of contract. termination of the contract and return of the deposit, plus payment of reasonable expenses, and/or.

What is unethical conduct in real estate?

There are four principle ways in which agents cheat customers: failing to tell sellers of higher bids when lower bids provide the agents with more commission through mortgage and insurance needs; switching second bidders to other properties when buyers are in short supply; selling unnecessary insurance or the wrong ...

What happens if a buyer breaches a contract?

The most common material breach by buyers in real estate contracts is failing to follow through with a closing and not actually paying for and taking possession of the property as agreed to in the contract. When a buyer breaches a real estate contract, the seller may be entitled to monetary damages.

What are some of the remedies of the buyer if there is a breach of a sales contract?

One of the most common remedies chosen by buyers after a breach of contract by the seller is a lawsuit for damages for nondelivery. These suits occur if the seller fails or simply refuses to deliver the goods that were promised in the contract.

What are some of the remedies of the seller if there is a breach of a sales contract?

Types of Remedies for Breach of ContractCompensatory Damages. An award of compensatory damages is the most common of the legal remedies for breach of contract. ... Specific Performance. ... Injunction. ... Rescission. ... Liquidated Damages. ... Nominal Damages.

What is a real estate attorney?

A real estate attorney is someone who is licensed to practice real estate law, meaning they have the knowledge and experience to advise parties involved in a real estate transaction, such as a home sale.

Why do you need an attorney for a home purchase?

Here are a few reasons you might need or want an attorney to be part of your home buying team: State or lender requirement: Every state has slightly different laws regarding real estate transactions, and some states consider certain actions that are part of the process to be “practicing law.”. These regulations are often meant to prevent real ...

How much does a real estate attorney charge?

If you want your own attorney in addition to the one required by your lender, you’ll also pay for any services they provide you. How and how much a real estate attorney charges will vary, but here are some basic ranges to give you an idea of what you’ll spend: 1 Fixed hourly rate: A real estate attorney who charges an hourly rate may charge $150 – $350 per hour, but this can vary a lot depending on how experienced the attorney is and what area you’re in. 2 Fixed rates for specific services: They may also charge a flat fee for the particular services they provide. For example, a real estate attorney might charge $500 – $1,500 to conduct a home closing. Their fees may also depend on the sale price of the property in question.

Who can represent the buyer in a home purchase?

In a home purchase transaction, both the buyer and seller can hire an attorney to represent their interests during the process. Or, in the case where an attorney is overseeing a closing where the home is being purchased with a mortgage loan, the attorney may actually represent the mortgage lender.

Who is in charge of closing a home?

In some cases, a real estate attorney is also the person who’ll be in charge of your closing. In a home purchase transaction, both the buyer and seller can hire an attorney to represent their interests during the process. Or, in the case where an attorney is overseeing a closing where the home is being purchased with a mortgage loan, ...

What is a real estate attorney?

Real estate attorneys help oversee home sales, from the moment the contract is signed through the negotiating period (aptly called the “attorney review”) to closing. A seller’s attorney reviews sales contracts, communicates terms in a professional manner and attends closings to prevent mishaps. Selling a home is a complex process ...

Why do you need an attorney for real estate?

An attorney helps you protect your investment and assets while ensuring you’re conducting your side of the transaction legally — which can prevent costly missteps. Real estate attorneys are required in many states, but even if you aren’t legally required to use an attorney while selling, it can be a good idea.

What is the process of selling a home?

Selling a home is a complex process that requires knowledge of and familiarity with local, state and federal laws. An attorney helps you protect your investment and assets while ensuring you’re conducting your side of the transaction legally — which can prevent costly missteps. Real estate attorneys are required in many states, ...

Do you need an attorney for a closing?

In 21 states and the District of Columbia, attorneys are legally required as part of the closing process. Attorney-required states include: As a best practice, if the other party in your transaction has a lawyer representing them and supporting their best interests, you should too.

What to do if you inherited a home?

An attorney can help you navigate the complexities. Estate sale: If you inherited the home you’re selling, hiring an attorney to sort through ownership documents can ease the burden, which is especially helpful when you’re grieving the loss of a family member.

How much does a real estate attorney charge?

How much does a real estate attorney cost? How much you’ll pay for real estate attorney fees depends on your market and how involved they are in the transaction, but they typically charge a flat rate of $800 to $1,200 per transaction. Some attorneys charge hourly, ranging from $150 to $350 per hour.

What is the job of a home inspector?

Their job is to make sure the buyer knows about everything that may need to be repaired on the home. Sellers also sometimes hire an inspector to do a pre-inspection so they can make any necessary repairs before putting the house on the market.

What is a real estate lawyer?

A real estate lawyer is licensed to practice law and specializes in real estate transactions. A real estate lawyer is familiar with all aspects of the home purchase process and can represent buyers, sellers or lenders. In states where a lawyer is required to be present at closing, it’s possible that the lawyer is there solely to represent ...

Who does a real estate lawyer represent?

A real estate lawyer is familiar with all aspects of the home purchase process and can represent buyers, sellers or lenders. In states where a lawyer is required to be present at closing, it’s possible that the lawyer is there solely to represent the buyer’s lender. You will need to hire a lawyer yourself if you want someone to represent your ...

Can a buyer withdraw from a contract without penalty?

In some cases the buyer—if the contract allows it —could withdraw from the contract without penalty. Title. A title search is routine before a purchase, and might turn up a lien on the property you’re selling or buying, which a lawyer can help investigate. A lawyer also could help ensure the title insurance on your new home adequately protects you ...

What is closing on a home?

Closing. The moment you’ve been waiting for— closing on a home sale or purchase —often involves dozens of pages of legal documents to review. A lawyer can help both the seller and buyer navigate the review, which can be especially intimidating and confusing to a first-time homebuyer.

What is the job of a real estate attorney?

The job of a real estate attorney is to negotiate and make a transaction come together in a peaceful manner that’s fair and amenable to all parties. A real estate attorney takes over after the selling price and terms have been established by the real estate agents in the contract and all parties have signed.

What does it mean when you are selling a house?

You’re selling a property that is in some state of distress. You’re the heir or executor of a property whose owner is now deceased. You’re selling a house with an uncooperative partner. You have judgments or liens on the property.

Who is Julie Ryan Evans?

Julie Ryan Evans is an editor and writer who has covered everything from politics to pop culture and beyond. She loves running, reading, cold wine, and hot weather. Get Pre-Approved Connect with a lender who can help you with pre-approval.

What is an estate planning lawyer?

The estate planning lawyer specializes in wills and trusts, and can help you to draw up a will to pass on your assets. Among other estate planning legal services, this type of lawyer can help you set up a trust which will help take care of your children’s financial needs.

What can a corporate lawyer do for you?

A corporate lawyer will be able to help you with issues related to the formation of your corporation, general corporate governance issues and corporate compliance issues.

What is an IP lawyer?

Also known as an IP attorney, an intellectual property lawyer can advise you with regard to issues relating to intellectual property, such as copyrights, trademarks, patents, industrial design and trade secrets.

What is an employment lawyer?

Employment Lawyer. Whether you’re a company that’s having a problem with an employee, or an individual who’s having problems with the company you work for, an employment lawyer can generally provide advice about legal issues which arise from an employment contract or within an employment relationship.

What is a worker's compensation lawyer?

If you’ve been injured while on the job, or have had to face the death of a loved one as a result of a workplace accident or occupational disease, a lawyer who specializes in workers compensation law can help you navigate the issues you face, such as the extent of the employer’s fault and the amount of benefits to which you are entitled.

What is a disability attorney?

The Social Security Disability system can be a particularly complex system in which to navigate. An attorney who specializes in Social Security Disability issues can help you with any step in the Social Security Disability process, including assisting you with eligibility issues, launching an appeal of a decision to deny you benefits and dealing with the reduction or termination of your benefits.

Do doctors make mistakes?

Doctors do occasionally make mistakes, and if you’re facing the consequences of a medical mistake such as a medical misdiagnosis or inaccurate treatment, a lawyer who specializes in medical malpractice issues can be particular helpful.

Can a real estate agent be held liable for fraud?

In many cases, the real estate agent can be held directly liable for violations such as fraud or breach of contract. However, other parties can also be held liable for violations. For instance, real estate agents often work on behalf of a broker or a brokerage company.

What are the most common claims against real estate agents?

The top 7 claims against real estate agents include: 1 Real estate fraud 2 Breach of duties (especially if these are listed in a broker agreement) 3 Contract violations 4 Negligence (failing to use reasonable care when conducting transactions) 5 Damage to property (for instance, during an appraisal or when inspecting a home) 6 Misrepresenting property conditions, damage, or value 7 Disputes over escrow and down payments

What is damage to property?

Damage to property (for instance, during an appraisal or when inspecting a home) Misrepresenting property conditions, damage, or value. Disputes over escrow and down payments. Various other disputes can arise against real estate agents. Some cases may involve more than one type of legal issue.

Who is Jose from LegalMatch?

Jose (Jay) is a Senior Staff writer and team Editor for LegalMatch. He has been with LegalMatch since March of 2010. He contributes to the law library section of the company website by writing on a wide range of legal topics.

What are the consequences of breach of contract?

For instance, a breach of contract may involve remedies that are specifically listed in the contract. Some cases may involve statutory damage limitations. Other consequences may include a suspension of agency operating privileges, civil fines, and criminal consequences.

Can a real estate agent give legal advice?

There are some things real estate agents are not allowed to do. Some examples include: Giving legal advice (unless they are a licensed attorney and are acting in capacity as your attorney), as this would be considered an authorized practice of law; Giving tax advice, as they are not licensed to do so; or.

What are the lawsuits against real estate agents?

Some other common lawsuits filed against real estate agents include: Failing to Disclose a Property Defect: The seller or buyer is ultimately responsible for disclosing any property defects involved in a real estate sale.

What are the duties of a real estate agent?

Real estate agents are responsible for several tasks, depending on their education, licensing, and certifications. Some examples of what a real estate agent does include: 1 Handling standard client forms; 2 Drafting and preparing offers and other related paperwork; 3 Providing satisfactory customer service if a client has an issue; 4 Answering basic questions that clients may have, such as explaining the home purchasing/selling process; 5 Reviewing real estate contracts, such as lease agreements, purchase agreements, and rental contracts; 6 Negotiating sale prices between sellers and the clients; 7 Closing any deals; 8 Showcasing properties to potential buyers; and 9 Guiding clients through tours of the property.

What are some examples of real estate?

Some examples of what a real estate agent does include: Handling standard client forms; Drafting and preparing offers and other related paperwork; Providing satisfactory customer service if a client has an issue;

Do real estate agents work alone?

This is by no means an exhaustive list of what real estate agents do. The term “real estate agent” is sometimes used interchangeably with the terms salespeople and brokers. However, brokers may work alone because of the more rigorous state board licensing process they are required to complete. Typically, real estate agents must work with a broker.

What is a fiduciary in real estate?

A fiduciary is an individual who is entrusted with acting on behalf of another individual and making decisions in their best interest. Fiduciaries are entrusted with legal duties or obligations to their client because of their experience and specialized training. A real estate agent’s most important aspect of fiduciary duty is ...

What are compensatory damages?

Compensatory damages associated with a breach of contract or misrepresentation. Additionally punitive damages may be available in cases where there was fraudulent misrepresentation; Other damages such as emotional distress, or any other injury damages that may have occurred due to the actions of the real estate agent.

What happens if a seller is unwilling to perform?

If the seller is able but unwilling to perform (that is, to convey the house to you), it might actually be possible for you to bring a legal action for what's called "specific performance." In plain English, this means you're asking a court to order the seller to sell the home to you as originally planned. More specifically, the court would order the seller to complete the transaction according to the terms of the contract, rather than to compensate you monetarily for the breach.

What happens if you don't sign a contract?

In the event of a breach by the seller, or where you and the seller didn't actually sign a contract, or where the contract you thought you entered into is actually invalid or unenforceable, you are likely entitled to terminate the contract and recover any payments you made to the property seller. Where both the buyer and seller agree ...

What does specific performance mean in a contract?

Specific performance is not a matter of right , but is usually a matter for the court's discretion, and also depends on the law in your state.

What is specific performance?

If the seller is able but unwilling to perform (that is, to convey the house to you), it might actually be possible for you to bring a legal action for what 's called "specific performance.". In plain English, this means you're asking a court to order the seller to sell the home to you as originally planned. More specifically, the court would order ...

Can a realtor answer questions about a neighborhood's ethnic make-up?

If you're buying a home, there are some questions about potential properties and neighborhoods which your realtor can't answer. Agents can't answer questions about a neighborhood's ethnic make-up, i.e., if it's a “black” neighborhood. If you ask an agent to show you a home in an “Italian” area, they have to refuse.

Does California have anti-discrimination laws?

States have also passed their own anti-discrimination laws which expand on the Federal Fair Housing Act. In California, age, gender expression and sexual orientation are also protected. Each state has its own laws, but an experienced, local realtor should know and follow them.

What is the Fair Housing Act?

The Federal Fair Housing Act protects seven classes of people from housing discrimination. Home buyers are protected upon the basis of race, color, religion, national origin, sex, handicap, and familial status. Realtors aren't allowed to discriminate against home buyers who fall within these protected groups.