Buying a home can be a complicated and tricky situation to navigate without legal help. A real estate attorney has valuable experience that enables them to walk you through the legal process of transferring the ownership of a house. Here’s a little more on the importance of a real estate attorney.
Preserve Your Rights
When you hire a real estate attorney, they work to ensure that your rights are preserved. This includes checking the sales contract and all the legal contracts involved to make sure you’re protected. Your real estate attorney will review the title for any problems or liens, as well as verify and file all loan documents and legal papers. Your attorney will also arrange for any final payouts for any existing loans, as well as prepare all the necessary paperwork to transfer ownership of the home.
Protect You from a Financial Loss
A real estate attorney will ensure that your sales contract will have a clause allowing you to terminate it in the event of a failed home inspection. This could potentially save you hundreds of dollars in cancelation fees if the home is found to have any significant problems, like mold or structural issues. Your real estate lawyer will also check your documents with errors that can lead to financial losses.
Answer Any Questions Along the Way
If you’re brand new to the home buying process and are purchasing your first home, there will most likely be dozens of questions that come up along the way. Hiring a real estate attorney gives you a lifeline for all the unexpected things that are impossible to plan for. Your lawyer will be able to assist in every step of the way, from the offer to the closing.
Here at Riley and Gutman, we pride ourselves on being an asset to every home buyer that hires us. Be sure to let us know if you have any questions!