Why You Need A Real Estate Lawyer When You Purchase Your Next Home
Posted on: 1 May 2023
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When you reach a point where you join the 65% of Americans who own real estate, you will likely be making the largest purchase of your life. Whether you're buying your first home or your final home, a real estate lawyer can facilitate the process for you so that you can enjoy your new home instead of stressing over the details. Learn more about why you need a real estate lawyer when you purchase your next home.
1. Analyze and Explain Contracts
A real estate contract will detail the sale of a house and how it relates to all parties. However, not all contracts favor both parties. Your real estate lawyer will be able to pinpoint any contingencies in the contract that put you at a disadvantage so that you are aware of the disparency before you sign. You may decide to renegotiate the terms of the agreement. If you already signed a one-sided agreement, a real estate lawyer can tell you your legal options.
2. Answer Legal Questions
You may have legal questions regarding the sale of your house, such as the definition of certain terminology or the laws regarding neighbors and fences. Your lawyer can also help you clarify what will happen to the house in the case of a major life event, such as divorce or death. Additionally, you should write your questions down in advance.
3. Clarify Your Rights and Responsibilities
When you purchase a home, you have certain rights as a consumer. For example, the seller can grossly mislead buyers about the condition of a house. You also have a right to live in a home that passes local building inspections (unless sold "as-is"). You also have responsibilities to your mortgage lender and your neighbors around you.
4. Facilitate Paperwork
Buying a house is exciting, but the paperwork certainly isn't. After a while, the documents start to merge together and the content becomes a blur. That can make completing the paperwork properly somewhat challenging. Without the proper paperwork, you will prolong the transaction to the point that it costs money on both sides. You may even be contractually obligated to complete paperwork by a specific date. Your real estate lawyer can complete the paperwork for you (except for your signature) to ensure it's done properly.
You don't need to get stressed by the house-buying process. Allow a real estate lawyer to help you along the way.
For more information, talk with a real estate lawyer.