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Los Angeles Real Estate Lawyers

A wide body of federal statutes and state statutory and common law regulates real estate transactions in Los Angeles. Many sellers generally appoint a real estate broker to find a suitable buyer for their property. The broker and the seller sign an agreement called a listing agreement. Generally, real estate transactions are supported by a mortgage. Los Angeles real estate lawyers tackle various legal issues that involve real estate law.

Usually, real property denotes land and it can be divided in to three main categories such as freehold estates, nonfreehold estates, and concurrent estates. Other divisions of real property include future interests, specialty estates, and incorporeal interests.

Lawyers can help draft or revise the sales contract to protect the buyer's rights. The lawyers can also assess the title evidence or the title insurance commitment. They can also examine the closing documents to make sure that all the details have been included in the documents keeping their client's best interest in mind.

Many established real estate agencies in Los Angeles have their own lawyers whom they refer to, for all their real estate transactions. These lawyers review any offers the agency makes or receives, to ensure that the agency's rights are protected.

Many title insurance companies and mortgage lenders choose to deal with people who have a lawyer, to ensure that the title is good and devoid of any complication.

Generally, legal fees are higher for a buyer than a seller as buying involves more legal issues than selling. In Los Angeles, many real estate lawyers charge a flat fee for certain legal services. However, some of them charge their clients on an hourly basis. Before hiring a lawyer charging on an hourly basis, it is advisable to get an estimate of the final cost. Typically, most lawyers will charge their clients for their time and services even if the deal is not closed.

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