It can be a bit confusing trying to buy a piece of real estate, especially if you have never done it before. A lot of people don't realize that a real estate attorney can be beneficial during the buying and selling process. Many people assume that these types of attorneys are only for real estate agents, corporations, or when there are problems. However, this is not true. In fact, if you are buying or selling property, it is often recommended to have an attorney at your side. Here are a few benefits of hiring a real estate attorney.
An Attorney Can Draft Contracts and Deal with Negotiations
Although a real estate agent and bank can aid in the negotiation process and drafting of the contracts, a basic contract is often generated that may not be useful for every transaction. In addition, they may not truly have your best interests at heart. However, a real estate lawyer will. They will not only be able to create a contract that is specifically tailored to your needs and wants; they will be able to negotiate on your behalf. The attorney will also review any contracts to ensure that it is legal and covers anything and everything.
An Attorney Can Address Title Problems
A lawyer can assist in the title search process. A title search is very important, as it can uncover any issues with the title prior to purchasing a home. For instance, the sale can be voided if the title search uncovers that the person selling the home doesn't actually have the legal right to be selling it. A title search will also allow you to discover if there are any liens or judgments against the property. A real estate attorney can help you start the title search and deal with any issues that may crop up during this search, such as negotiating a lower price or having liens removed.
An Attorney Can File the Paperwork Properly
When a property is transferred, the deed must be filed with the courthouse. The bank can generally help you with this, but an attorney can help ensure that everything is handled properly. Usually, an attorney is much faster and more efficient at filing the paperwork than other professionals. Due to the fact that this step in the buying or selling process is so important, you will want to ensure that the right person handles the job.
An Attorney Can Review the Necessary Disclosures
A lawyer will also be able to review your home inspection as well as a variety of disclosures to ensure that potential problems with the property are caught early on before they have a chance to become a large issue later on. The last thing you want is to assume that a home is safe and secure, only to find out that the seller hid some major issues from you.
If you are buying or selling a home, reach out to a real estate attorney for professional guidance.