Real estate agents have the experience and training to guide homeowners through the sales process, and buyers through the buying process, and usually, this arrangement works out to the benefit of both sides. We say “usually” because there are always a few cases that creep into court each year, disputing anything from unaddressed liens to leaking roofs. Let’s Go Start Do I Need a Lawyer to Buy a Home! Do you have a Dog then you can Feeding Your Dog Raw: Pros and Cons of Raw Diet for Dogs.
A lawyer can help to prevent and remedy many of the common, frustrating disputes so often encountered during the buying process. This guide will help you understand which buying climates are more prone to legal disputes so that you can decide whether a lawyer is the best way to protect your interests.
When Can a Real Estate Lawyer Help?
Lawyers are a good bet any time you read a contract that specifies something out of the ordinary any unusual requests, exclusions, specifications… If you don’t know what “out of the ordinary” looks like, you need an attorney.
Real estate lawyers are better able to handle tasks like title searches (to determine whether there are any liens or stipulations on the property before the seller can sell it) because they have working relationships with a title company. For these matters, you will want either a very good real estate agent or a skilled lawyer.
The same applies if you are an out-of-town buyer, as it can be difficult to make sure that everything goes to the correct county, state, or federal agencies imagine shopping for a mortgage lender in Chicago while living in Los Angeles and trying to keep up with the seller who is phoning in from Albuquerque.
Here are a few other good reasons to contact a lawyer:
-If your property is owned by the bank
-If you are buying commercial property
-If your home is in a flood zone or area prone to tornadoes
– If you are worried about unanticipated structural weaknesses
For instance, if you purchased a home and found out there were unpaid taxes, a lawyer can step in and prevent any fines from accruing against you while settling the matter with the previous owner in court. It’s a timesaver and saves a huge amount of worry on the part of a buyer who just wants to get into their first home.
The good news is that you won’t necessarily need a lawyer for the entire home-buying process. Many jurisdictions require an “attorney review” period, generally active for a few days after you sign the contract, allowing time for a lawyer to find any indiscretions. The attorney review period gives you the chance to cancel the contract even after signing.
Are you a first-time homebuyer? Consider a lawyer. Are you having trouble deciphering the legalese of your contract? A lawyer might be able to help. The cost of a legal consultant’s time is small compared to the price you would end up paying if your purchase lands you in court, or if your investment fails to pan out because of misfiled paperwork. A home is a big purchase, one of the largest of life’s investments, and it pays to protect it. Maybe you did read Do I Need a Lawyer to Buy a Home.