Posted on: 20 January 2017
Purchasing any type of property is a serious investment, and it is natural to want to protect yourself. A real estate agent is an invaluable resource when you're in the market for property, but when you want to ensure that the transaction is done perfectly, it is a good idea to also retain the services of a real estate attorney. There are a number of reasons to hire a real estate attorney when buying a property, such as:
Protect Your Interests
During a real estate transaction, your real estate attorney will only be concerned with your interests. He or she will not be influenced by the sale price of a property or any commission that may be made from the sale. When you have a real estate attorney, you will know that you have an outside third-party who is watching over every step of the transaction to make sure that it benefits you.
If you want to be an informed buyer, it is important to know as much about a property as possible before making a purchase. Your real estate lawyer will know how to research a property and collect things such as the loan pay-off record, a property survey, real estate tax information, and title and transfer requirements. Your attorney will also be able to find out if there are any liens or additional mortgages on a property.
While experienced real estate agents have a vast amount of knowledge about the real estate market, they are not equipped or allowed to give out any type of legal advice. If you're planning on purchasing property and have legal questions, it is important to have a real estate attorney to assist you.
Prior to submitting an offer on a property, your attorney will review the contract and ensure that its terms are correct and that you are protected. Your attorney may also amend a contract if he or she does not feel that the original contract is written properly.
Closing on a property can be very exciting, but before you can get your keys, you will need to sign a lot of documents. All of the papers you sign at closing are very important, and it is in your best interest to have your real estate attorney present. Your attorney will make sure that you understand exactly what each document is and what it means before you sign it.
For more information, contact a real estate attorney like Steve Butcher Sr.Share