Wednesday, 03 June 2020

Buying and Selling a House: 5 Key Reasons to Hire a Real Estate Lawyer

Written by Posted On Thursday, 15 August 2019 04:37

Real estate lawyers do more than just look over contracts. Keep reading for buying and selling a house: 5 key reasons to hire a real estate lawyer.

Over half a million houses sold just this past June (2019). That massive number is a testament to the fact that the real estate market is as bullish as ever and people are consequently buying up properties at break-neck paces.

What you don't really get when you see flashy statements like "half a million home sales" is the amount of effort and stress that went into each of those transactions. You also don't see the thousands of deals that fell through the cracks due to clerical errors, miscommunications, and legal violations.

The single best way to avoid a lot of those problems when buying and selling a house is to work with a qualified real estate attorney.

Here are 5 ways that they can help smooth out transactions.

1. An Unbiased Explanation of the Buying/Selling Process

Who do most people turn to when it comes to learning about the process of buying and selling a house? Real estate agents.

While that sounds like a reasonable move, a real estate agent's motivation isn't always aligned with giving you the best possible service.

At the end of the day, buyer's agents want to see you buy a house and seller's agents want to see you sell a house. They don't want to see you getting bogged down by questions, second-guessing participating in today's market or doing anything else that might slow down a deal.

Given that real estate lawyers don't work on commissions when buying and selling a house, their sole aim is to give you more information and keep you safe.

2. Financing Advice

Most people don't have the kind of cash that they need to buy houses outright. Instead, they go to a lender to seek out mortgage financing.

Mortgage financing can get tricky, especially if you have a unique income situation (you're self-employed for example).

To make sure that you come away with financing that is fair and that you understand, real estate lawyers can give you impartial advice as to how to proceed and what the implications are of accepting a particular financing contract.

3. Home Contract Review

There is a lot of paperwork that goes into real estate transactions. Whether you're a seller or a buyer, it's easy to get bogged down in contingencies, legal jargon, and other headache-inducing text.

A real estate lawyer takes that stress off of your hands, reads/writes contracts for you and makes sure that everything that's stipulated does its best to work to your advantage.

4. Title Searches

Thousands of people buy homes every year only to find that a 3rd party had a lien on the property. Those liens at best negate a deal and at worst, could mean buying a property that you don't have full control over.

Real estate agents can scrub titles before home purchases take place to make sure that titles are free and clear.

5. A Smooth Closing Process

Real estate deals fall through during closing all the time. A lawyer can help you navigate moments leading up to closing and your actual property closing meeting to give you the best odds of walking away with your money/new home.

Hire a Real Estate Lawyer When Buying and Selling a House

Buying and selling a house is a pitfall-filled process. Real estate lawyers can help you navigate problems and will give you the best odds of achieving whatever your desires ends are during a transaction.

Bottom line: Hire a real estate lawyer before buying or selling your next home and, if you need additional information on more lifestyle-related questions, read more of the content on our blog!

 

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tracy handy

Tracy is a full-time real estate advisor and blogger. she specializing in real estate technology .and she would like to write real estate,  home improvement topics.

https://myrealestate.com/
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