Lawyer for Lender-Funded Real Estate Purchases in Charlotte

Real estate financing is a broad term that encompasses a wide range of legal and financial concerns related to real estate transactions. It could entail getting a mortgage or advising a seller on the tax implications of a real estate transaction. Attorneys who practice in this area must be well-versed in North Carolina real estate law.

A local real estate lawyer can also provide you with peace of mind when making what could be the most important purchase of your life. The Nye Law Group attorneys handle other aspects of real estate financing, such as title insurance, to ensure that the property has no outstanding claims or liens. We also act as a third party to facilitate the transaction by supplying the paperwork needed to transfer funds to the seller and your lender.

Lender-Financing Litigation Attorney

Individuals attempting to negotiate a lucrative transaction in lender-financed real estate face a number of legal obstacles. In Charlotte, once the buyer and seller have worked with a real estate broker to agree on a price, the final details are left to the attorney. After you and the seller have agreed on the sale price and everyone has signed the property contract, the lawyer usually takes over the case. Attorneys oversee a variety of legal services, including:

•    Acquisition loans
•    Sale agreements
•    Lending agreements
•    Security agreements

Legal Opinions

In most lender-financed real estate transactions, a legal opinion is required to demonstrate that the person is in good standing. The opinion also informs the lender that the loan terms are legal and enforceable. Because these agreements are required for the majority of real estate financing transactions, individuals seeking these loans should seek legal advice before proceeding.

A security agreement reduces the risk of a commercial real estate loan for lenders by allowing them to recover at least some of the money if the borrower defaults. Real estate, equipment, automobiles, inventory, securities, and receivables are all examples of collateral. A real estate attorney can ensure that the letter of recommendation meets all of the lender’s requirements, allowing the loan to be approved.

Contact a Real Estate Attorney for Professional Legal Support

Whether or not to employ a real estate attorney is often a matter of personal preference and whether or not you can afford to spend a little more at closing. The real estate process should go more smoothly if you have a team of specialists on your side, such as a real estate agent, lender, inspector, and attorney, especially if you are a first-time homebuyer.

Keep in mind that even after a contract is signed, financing issues can arise weeks or months later. An experienced real estate attorney can keep an eye on things for you and notify you of any issues that arise after the transaction is completed. Working with The Nye Law Group ensures that the legal complexities of a real estate transaction do not overwhelm you. For more information, call 912-200-5230 or complete the following contact form.