Legal Malpractice In Real Estate Transactions
Real estate transactions involve significant amounts of money for all parties concerned. It is the fiduciary and professional responsibility of an attorney to perform all necessary due diligence in reviewing real estate contracts, environmental issues, development plans, and financial arrangements. Additionally, a real estate attorney should protect his or her client from exposure to unanticipated liability.
In order to protect a client in a real estate transaction, an attorney should explain to the client all the material terms of the transaction as well as all of the client’s rights and obligations under any proposed contract. In addition, the attorney should conduct the necessary due diligence so that the client is aware of all material information relevant to the transaction. In essence, anything that could devalue a client’s real estate investment or result in financial harm is the responsibility of a real estate attorney. At the law office of Schwartz & Ponterio, PLLC, our attorneys expose violations of fiduciary responsibility, ethical lapses and failures in due diligence on the part of real estate attorneys.
If the home you purchased or the coop or condominium you joined has turned into a nightmare because your lawyer failed to discover information prior to the purchase, please contact the real estate malpractice attorneys at Schwartz & Ponterio, PLLC, for a consultation.
Failing To Protect A Client’s Interests
Our law office represents clients in cases involving the following kinds of real estate legal malpractice:
- Failure to identify environmental problems
- Failure to identify nearby developments that impact property value
- Failure to uncover liens
- Failure to identify title problems
- Failure to disclose terms and conditions economically harmful to client
- Failure to explain contractual rights and obligations
Establishing Economic Harm In Real Estate Malpractice Cases
Economic harm in real estate malpractice cases is often a function of determining costs incurred as a result of an attorney’s failings. For example, if your attorney failed to discover environmental contamination on your property, he or she may be liable for the cost of any clean up. Additionally, if your property will be devalued due to undisclosed conditions or circumstances, your attorney may also be liable for failing to discover or warn you about it.
At Schwartz & Ponterio, PLLC, our attorneys consult real estate appraisers, environmental engineers and other experts as needed in order to determine the financial harm suffered by our clients. We consider costs associated with repairing damage, removal of hazardous materials and pollutants, and property devaluation.
Contact Our Real Estate Malpractice Attorneys Today
If your attorney failed to protect you against liability or economic harm in connection with a real estate transaction, contact the real estate legal malpractice attorneys of Schwartz & Ponterio, PLLC, at 212-714-1200 today to schedule an appointment to learn how we can help you.