Lawyers Can Be a Valuable Asset When Purchasing a Home
Published August 30, 2017
Retaining the services of a lawyer when purchasing a new home is not just a good idea, it can actually be vital to completing the process without making a life damaging mistake.
The process of purchasing a new home is complicated, emotional, and fraught with both perils, and expenses. However this is not a task that you have to undertake yourself. There are a number of qualified professionals that are available to assist you with every step of the home purchasing process.
One of the most important services that you should retain when purchasing a new home is that of a good law firm that will be able to guide you along the way, while also helping you to prepare the numerous documents required for this transaction.
The main reason you want to hire a lawyer when buying a new home is so you have an advisor that you can go to for guidance and support. The laws, processes, and documents surrounding the sale of a home can be complex. Having a lawyer on retainer means that you can pick up the phone at any point and ask for clarification on a term or procedure.
Lawyers will also be able to protect you against potential dangers that may plague you during the process of buying a new home. Some people may try to employ fraud tactics to trick you into an unfavorable contract, or sell you something that they do not own. Hiring a lawyer means that you will have someone with a trained eye watching your back.
Another use for a lawyer when buying a home is to help you during the bargaining process. The attorney’s who handle real estate know both the laws, and the common practices of the industry. They’ll be able to advise you as to what you can ask for, and what probably won’t work. At the same time they can help you to interpret complicated language that may be included in agreements that are proposed by the seller.
According to Bob Kelley of Realtor.com “Hiring a real estate attorney when needed is a smart choice. Their mission is to negotiate to make this transaction come together in a peaceful manner that is fair and amenable to both sides. A real estate attorney takes over after the selling price and terms have been established by the realtors in the contract and all parties have signed.”
Hire a Real Estate Lawyer
While a lawyer is a great resource, they won’t be able to handle every single question that you have when purchasing a new home. However an attorney that works in real estate will have associates they know and can refer you to. This can include real estate brokers, as well as different lending institutions for mortgages. That personal introduction will make it easier for you to trust those people and organizations than if you simply found someone in a random directory.
Aside from acting as an advisor, another major role that a lawyer can fulfill when purchasing a home is to fill out the legal documents that have to be filed in order for the process to be official. They will understand the terms and language of those forms, and be able to fill them out quickly, and accurately, and get them publicly documented in a prompt manner, allowing you to concentrate on the purchasing process itself.
While hiring a real estate attorney can be somewhat expensive, the cost is worth it to have that peace of mind. At the same time the protection and assistance they can give you will often save you money in the long term by preventing costly mistakes and preventing fraudulent practices. That makes hiring a lawyer an important part of the investment cost of buying a home.
When looking for a real estate lawyer to advise you through the process of buying a home is to find someone who is knowledgeable, experienced, and trustworthy. This is somebody that you will be working with through a relatively long and difficult process. Therefore you have to be able to work with them, while remaining confident they have your best interests in mind, If possible follow the advice of trusted referrals in order to find someone. You can also go online and find honest reviews of different firms and businesses in order to make a decision.
Once you’ve found an attorney that you are comfortable with then you should make full use of their services. There is no such thing as a dumb question, and calling them up to help clarify a point of confusion can help you to avoid difficult and costly problems. At the same time you should know the exact structure of your lawyers fees, so that you understand exactly how much that phone call will cost you.
Hiring an attorney allows you to avoid the hassle of having to learn the complicated ins and outs of real estate law, instead trusting those efforts to the hands of a trained professional who knows exactly how to handle them. That allows you to concentrate your attention on what you know best and leave the litigious pitfalls of the home buying process to a professional who can handle them competently.