Why Do I Need A Real Estate Attorney?
Many individuals buying or selling a home wonder if they really need a real estate lawyer to complete the transaction. If you have gone through this process before, you are somewhat familiar with what it entails. After all, most purchase agreements are fairly standard and your real estate agent is very familiar with these agreements, they can point out any important clauses. Buying or selling a home, is one of the biggest transactions most people will be involved in, would you really trust that your interests are taken care of without legal representation?
Here we elaborate on what can a real estate lawyer can do for you:
As the Seller
If you are selling your home a real estate lawyer can draft your agreement of sale, accurately describe the home and the property and note any items you are looking to keep from your home that will be excluded from the purchase. As offers come in, your attorney can review each one individually and note any conditions that are included in the offer and describe how they may affect the sale process. They will also be the ones to prepare the deed to your home and finalize the transaction for you as soon as all financial conditions have been met.
As the Buyer
If you are looking to purchase a home, having an experienced real estate law firm on your side is a big asset. Your lawyers will review any property you are interested in purchasing to ensure the taxes are up to date and that there are no claims or liens against the property. When you find your perfect home, they can review the purchase agreement and explain all the clauses while highlighting and potential concerns. They can add in any chattels that you would like included in the purchase. Chattels are items in the home that can be removed, appliances and window coverings are chattels that are often purchased with a home. Because they can be removed from the home, they need to be noted as part of the purchase agreement. If needed, your attorney can assist with mortgage documents and help with insurance needs. Finally, your lawyer will interchange the legal documents with the seller’s attorney and attain the keys for you once the deal is finalized.
No matter if you are looking to sell or buy a new home, having a real estate lawyer on your team has its benefits. There is so much more a lawyer will do than just register the property and transfer titles to help make this process a much smoother one for you.