The Real Estate Attorney - When And Why You Need

The Real Estate Attorney - When And Why You Need One

Most people, when buying a house, don't think about bringing a real estate attorney in on the deal. What's to know, right? The realtor is right there, handling all of your questions and providing guidance. But wait, did you hire the agent or are they working for the seller? Uh oh. Beyond the fact that you'll have someone who is your advocate and not on the side of the seller, there are a number of reasons why hiring a lawyer is a good idea when purchasing property. Sure, hiring legal counsel can be expensive, but it is often money well spent.

Contracts
You may not need a real estate attorney to negotiate on your behalf, but actually working up the paperwork is another matter altogether. Just because you've orally agreed to terms with a seller doesn't mean much in the eyes of the law, particularly if a disinterested party is not present to confirm what was said. The contract is what matters, and it can be a complex piece of paperwork. Having a lawyer look over the terms can ensure that it will stand up in a court of law and that there isn't anything in the fine print that you'll want to strike out.

Liens
It's not wise to buy a house before you know whether or not the seller is legally permitted to transfer the title. A real estate attorney will run a title search and make sure there are no encumbrances on the property. There most likely will be liens put there by mortgage companies or the government for payment of back taxes. If you purchase a house that is under lien, the transaction can be voided in the future once the lien holder becomes aware of it. Now you've wasted time, money, and effort buying a house that wasn't legally for sale.

Filing Transactions
Before entering into a property transaction, you need to understand the complexities involved. These can be handled by the average person, but it's more work than just handing your money over and taking control of the house. In many districts, you'll need to file the deed with both the county and the state. Again, you can do this yourself, but a good real estate attorney can handle it much more quickly and make sure it has been done correctly. Buying a house is stressful enough without worrying about whether you nailed every little detail. Having a good lawyer by your side means you can concentrate on the important things to you and your family and leave the transactional stuff to the pros.

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