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IS A LAWYER NEEDED IN SELLING AND PURCHASING A REAL ESTATE PROPERTY?

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advokat-imotiThe changes in the new Family code concerning property relations between spouses are a prerequisite for a new type of a real estate fraud for a property which was acquired during the marriage, now it will be necessary to be examined if the property that is going to be sold is in the FCP regime (Family Community Property), in a regime of division or a subject of a marriage contract.

Except this “new” fraud, the practice has proven that there are dozens of ways to be deceived when purchasing a real estate property. I am amazed about the situation when a person had been saving money all his life and had taken a decision to invest it once in a real estate property, how is it possible that he does not necessarily advice with a lawyer, who will make in person all the necessary checks, will prepare all the documents, will present at performing the formalities related to the Notary Act and etc.

It is true that this is some additional cost, but is it worth to risk 100 000 leva just to save a lawyer` s fee? Absolutely not! The "underwater stones" in one deal are so many and can lead t so much trouble in the future, that it is not worth to take even the lowest risk giving all your savings to someone or even worse, giving the credit withdrawn from a bank, which you and your family are going to pay off during the next 20 or 30 years.

The other thing that I do not understand is how is it possible when someone buys a property weather it is by a construction company or an individual, to agree like a lamb that the seller` s lawyer will prepare the documents concerning the deal. The buyer and the seller are two controversial sides and each one protects its own interests. When the buyer trusts to the seller` s lawyer, this is equal to a lawsuit when the suitor trusts to the lawyer of the defendant. This sounds ridiculous, doesn’t it? Moreover, as a rule, the buyer pays the costs for the notary transfer of the property, including the lawyer` s fee, so hiring his own lawyer, the buyer will not pay anything additional, just instead of paying to the seller` s lawyer who will normally protect the seller` s interests, he will pay to HIS OWN LAWYER WHO WILL DEFEND HIS INTERESTS.

 
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