Pennsylvania Code contains strict rules for real estate brokers and anyone else with a vested interest in a property. Additionally, this legislation gives the Pennsylvania Real Estate Commission the authority to enforce the law.
Do you believe that someone broke the rules during a recent transaction? Or, do you need an answer to the essential question, "What is real estate law?"
No matter what angle made you arrive at this article, there's something here for you to learn. So, discover how these five tips may change how you look at real estate law today.
1. Know the Basics of State Law
A real estate law attorney spends years understanding the details of their profession. Not everyone has that kind of time, so you'll want to put in some studying time yourself.
If you want to stay updated on the latest changes, consider looking at the announcements from the Real Estate Commission. This section of their website can help even seasoned real estate veterans plan their next move.
2. Know Who You Can Contact
Real estate contract law can feel like a labyrinth that is meant to keep you trapped. However, it's crucial that you understand that you have legal options available.
First and foremost, you can always schedule time with an attorney for legal counsel. If you feel that someone violated your fair housing rights, for example, you can contact the Pennsylvania Human Relations Commission.
3. Know the Risks
You can read real estate law books until you go blind, but there's no substitution for clear-eyed experience. If you have concerns about your liabilities, finding legal counsel is always a wise decision.
But, do you need to hire a real estate attorney? If you're involved in real estate investing, you know that there's no such thing as a transaction without risk.
4. Know Your Alternatives to Court
Did you know that most litigation settles outside of a courtroom?
This type of agreement is extremely common in civil cases. Nobody with their best interests in mind wants to pursue expensive trials with no guarantee of success. As a result, having experience protecting your interests is a crucial consideration when hiring a real estate lawyer.
5. Know Your Rights
Law of agency real estate terms in Pennsylvania matters for both agents and their clients. As property prices continue to increase and competition heats up, it's more critical than ever to know your rights.
One of the best ways to get started is to look at FAQ sections from state authorities. If these only raise more questions than they answer, you may not want to make a move until you have a sound legal strategy.
How Does Real Estate Law Apply to You?
If you take the time to know the essentials above about Pennsylvania real estate law, you have a solid start. Anyone who works with an attorney on these concerns should feel like they understand how to protect their rights.
Do you need a legal advocate to help you understand how the law affects your current situation? Contact our team at Monastra & Grater, LLC (MG Law), and let us get to work for you today!