Homebuying is an exciting journey, indicating a step toward calling a place your own. However, the path to homeownership can be full of legal complexities that may seem daunting if you’re not well-versed in real estate law. From contracts to property titles, you may need to deal with legal jargon that can disrupt a smooth transaction.

Luckily, real estate lawyers can help you navigate this challenging landscape. Read more below to know what real estate lawyers in the Philippines can do for a pleasant homebuying journey.

What Real Estate Attorneys Can Do For You

Indeed, dealing with the legal complexities of real estate can be challenging, especially since there are many aspects to consider. But, working with a real estate lawyer in the Philippines can lighten the load. Here’s what real estate attorneys do for property buyers and sellers.

1. Contract negotiations and drafting

Navigating real estate transactions demands meticulous attention to detail, which is where real estate lawyers can help out. With their guidance, you can have well-drafted contracts that secure a smooth homebuying process. Your attorney can account for every nuance, protecting your interests from pitfalls.

Real estate lawyers meticulously structure the terms, conditions, and obligations to leave no room for ambiguity. Say you’re a homebuyer. What real estate attorneys can do for a buyer is to check the inclusion of a clear timeline for completing various stages in the transaction. In effect, they can prevent unnecessary delays and uncertainties.

On top of this, they can also help you understand the clauses and terms in the contract, including:

• Purchase price and payment terms: They can outline or examine the agreed-upon price, payment methods, and deadlines to avoid misunderstandings and costly penalties.

• Contingencies: Real estate lawyers can also address on your behalf the necessary conditions for the sale to proceed, like inspections or mortgage approvals.

2. Title searches and due diligence

Real estate lawyers in the Philippines also conduct thorough title searches and due diligence. Due diligence (1) involves investigating all aspects of the property and related transactions. It’s a precautionary measure that ensures the property is free from encumbrances or legal disputes.

This practice may be difficult if you don’t know where to search or have any resources for reference. Fortunately, real estate attorneys can help with conducting due diligence. They will assist you in unearthing issues like unresolved liens or conflicting claims before proceeding with the transaction, saving you from future headaches.

3. Land rights and ownership issues

Your attorney isn’t just a legal expert; they are also an educator, helping you comprehend your rights as a property owner (2). They can help you fight against unlawful practices such as trespassing, encroachments, or property rights violations.

Since land reform, ancestral domains, and foreign ownership regulations complicate an already tedious property transaction, real estate lawyers address these complexities on your behalf.

Take transactions involving ancestral lands, for example. Enlisting the help of real estate attorneys ensures that your purchase respects the rights of indigenous communities. Similarly, if you’re a foreign buyer, real estate lawyers in the Philippines can guide you in adhering to legal limitations and obtaining the necessary approvals.

4.  Regulatory compliance

Local laws and regulations can be a complicated maze to navigate. But enlisting the help of real estate lawyers aligns every aspect of your transaction with the letter of the law. They can help you understand relevant real estate laws, especially zoning regulations, land use restrictions, and property easements (3).

Moreover, regulations can change, and it may be challenging to keep up. Your attorney can help you comply with current rules and keep you updated on changes that might affect your property in the future.

5. Taxation and financial matters

Real estate lawyers can also guide you through the financial intricacies of property investments—specifically tax considerations. They are knowledgeable about the tax incentives you can avail of. With their help, you can make informed decisions for short- and long-term financial outcomes.

For example, they may advise you to pay your real property taxes ahead of the deadline so you can avail of early-payer discounts (4), effectively lowering your tax liabilities. Moreover, they can help you determine the best option to finance your properties by explaining the terms and conditions of mortgages and other financing instruments, allowing you to choose one that aligns with your financial goals.

Simply put, your real estate lawyer can be a key ally in crafting a strategic property investment plan.

6. Estate planning and succession

When investing in property, you’ll typically want your next of kin to inherit it. Your real estate attorney can assist in crafting wills and inheritance plans. They can ensure that specific wishes for certain properties are legally upheld, like keeping them within the family.

Additionally, real estate lawyers can handle potential conflicts among beneficiaries, mitigate estate taxes, and establish legal structures—such as family trusts (5)—to facilitate seamless property transitions aligned with your wishes.

Real Estate Lawyers FAQs

• When do I hire a real estate attorney?

Hiring a real estate attorney is advisable at the early stages of the homebuying process (6). Ideally, you enlist their services before signing agreements or entering negotiations to ensure legal guidance from the start and prevent potential issues later.

• What does a real estate attorney do for a seller?

If you’re a seller, your real estate attorney will draft and review contracts to ensure favorable terms. Additionally, they handle all the legal matters of property transfers and address any issues arising during the process.

• Do real estate lawyers go to court?

Most real estate transactions happen outside the courtroom. However, your real estate lawyer may advise that you go to court if legal disputes arise, such as boundary issues, contract breaches, and other similar conflicts. However, their primary focus is preventing such situations through thorough legal guidance and negotiation.

Your Legal Guardian in Property Transactions

The homebuying process can be exhilarating. However, the legal complexities that come with it can make the whole ordeal challenging—especially if you’re unfamiliar with the real estate law. For this reason, partnering with a real estate lawyer is a wise choice. Not only will they guide you through the legalities, but they can also help you obtain favorable terms on your property investments.

When investing in real estate or buying a new home, visit OnePropertee. We offer a wide range of property investments, from condominiums and apartments to duplex houses for sale.

Check out our listings today to learn more, and bookmark our blog for more updates on the real estate scene in the Philippines.

Sources

1. “How to Conduct Due Diligence in the Philippines.” Nicolas & De Vega Law Offices. https://ndvlaw.com/how-to-conduct-due-diligence-in-the-philippines/. Accessed Aug. 19, 2020.

2. “Real Estate Lawyer Job Description.” Betterteam. https://www.betterteam.com/real-estate-lawyer-job-description. Accessed Nov. 15, 2023.

3. Chen, James. “Easement: Definition, Types, and Examples.” Investopedia. https://www.investopedia.com/terms/e/easement.asp. Accessed Nov. 13, 2023.

4. “PUBLIC ADVISORY: The public is advised of the schedule of discounts for Real Property Tax for tax year 2024.” City of Manila Local Government System.” <https://www.cityofmanila.ph/articles/908#:~:text=Advance%20payment%20until%20December%2010,discounts%20on%20this%20tax%20obligation>. Accessed Nov. 13, 2023.

5. Pescow, Roberta. “What Is a Family Trust? Guide and How to Set One Up.” NerdWallet. https://www.nerdwallet.com/article/investing/estate-planning/family-trust. Aug. 31, 2023.

6. “3 Situations When You Should Hire a Real Estate Attorney.”Law Offices of Blomberg, Benson & Garrett, Inc. https://www.lawbbg.com/blog/3-situations-when-you-should-hire-a-real-estate-attorney. Accessed Nov. 15, 2023.