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Real Estate Lawyer or Real Estate Broker: what is the difference?

Real Estate Contract is always related with concerns of each party: both the seller and the buyer. It is stipulated by cases of fraud, lack of wish to risk or by fear of money loss. The specialists help to minimize risks. Due to it, there is a question: “Whom to ask for help: realtor or real estate lawyer?” First, it is necessary to understand the main differences of such specialists.

Realtors and their activities

The activity of realtors, or as they are called real estate brokers, is not regulated by the Law in Ukraine. You can refer to the Law “On realtor activity” but it is not come into force today. In most cases, realtors represent interests of the seller and as to the buyers, they offer objects from theirs list.

In addition, the broker will help to find a real estate in which a client is interested. The main task of the specialist is to sell an object, and he/she is not responsible for legality of a sale and purchase transaction.

Real Estate Lawyer

In accordance with the Law of Ukraine “On Advocacy and the Bar”, a lawyer is an individual who provides legal services prescribed by the current legislation.

Just real estate lawyer will give advice, inspect commercial and housing premises, as well as will assist the client to execute the transaction correctly in accordance with the law. In addition, at cooperation with a lawyer, there may be excluded unforeseen problems such as:

  1. Real estate sale is carried out, but the second owner of the object or spouse of the owner does not give consent.
  2. There are violations in documents connected with falsification, failure to follow safe conditions in a contract, drafts of contract.
  3. Contract has any hidden terms, or is carried out under unlawful terms for seller or buyer.
  4. The procedure of object privatization is broken.
  5. A seller is not entitled to sell a real estate.
  6. There are no rights to building or land due to unauthorized acquisition of land.
  7. An object is seized or pledged by a bank.
  8. There are issues with Tax Inspectorate.
  9. A seller has right restriction as to an object selling because of children’s registration, registration of legal or third persons.

Each specified issue may cause difficult consequences for a buyer as they are connected with high costs of money, nerves, and finances. In the worst cases, it’s possible to be left without a bought real estate.

What specialist should be chosen for concluding the contract: realtor or real estate lawyer?

Realtor is not responsible for contract, including an agreement which may be appealed if it is not corresponded with the Civil Law of Ukraine. А lawyer is expert in this issue, but a broker does not. Realtor finds real estate and focuses his/her work on research of the market. He/she assists the client to conclude a contract, by doing its part in successful negotiations between a seller and a buyer.

The lawyer prepares a contract and, accepting payment, guarantees that he/she is responsible for conformity of the concluded agreement with the law. The expert values his/her reputation and, in events of any force majeure, is ready to defend the interests of his/her client at case hearing in a court.

Practicing real estate lawyer may be useful on any stage of sale and purchase transaction. It is worth to think about cooperation with a lawyer at selection of business premises, housing building or apartment. But even if such issue is arisen directly at problem registration of ownership, the lawyers of the Law Office of Andriy Lotysh (Kyiv city) will provide quality legal services which minimize any risks for our clients.

To appoint a consultation in real estate issues, please call 067 743-27-66 (cost is from 1 400.00 UAH depending on a case complexity).

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