Typically, buyers will only think of a real estate agent when looking to purchase a new home. However, real estate agents are less qualified to assess legal terms and processes than attorneys accurately. The benefits of having an attorney present when purchasing a home are varied but substantial. From contract negotiations and reviews to dealing with liens and title searches, not having a real estate attorney may be a big mistake.
Contract and Document Reviews
The amount of paperwork that comes with buying and selling new real estate is substantial. Most of what is written in these contracts can come off as legalese or muddled jargon that may be unfamiliar to anyone without a law degree. A real estate lawyer acting on the buyer’s behalf can help sort through the terms and provide a clear and concise contract, removing the complexity for the average layperson. The buyer will fully understand what is in the contract and what they will be endorsing with their signature. In addition to contract reviews, a real estate attorney can help draft the contract and any other necessary documents required for the transaction.
Liens and Title Searches
Lawyers are capable of moving lien and title searches along more quickly. A title search is required to ensure that the property being purchased does not have a prior claim on it that would prevent its sale. A real estate lawyer can also help sort out any problems accompanying a lien or title search, like obtaining proof that a lien has already been fulfilled.
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