If you are buying a house, you probably already have a real estate agent. You have definitely shopped around for a bank or mortgage lender. You have gotten referrals for title companies from family and friends. But what about a real estate attorney?
Most people don’t consider an attorney an essential part of a real estate transaction, but certain circumstances make having an attorney on your side an excellent idea.
A real estate attorney is a professional who you will need to work with for various reasons. Regardless of the reason, real estate attorneys know the laws and regulations related to real estate transactions. They can help their clients understand the many legal documents and overwhelming contracts involved and negotiate on their client’s behalf.
While a real estate attorney may not be required every time you buy or sell, there are many circumstances where having one will be essential. The following are five reasons you should hire a real estate attorney.
When buying or selling your home for the first time.
Buying or selling property is a contractual agreement, so before you enter into a formal written contract for the first time, it’s a good idea to have an attorney take a look.
They will ensure everything is standard, looks the way it should, and explain anything that may be unclear. A real estate lawyer reads the fine print, so you go into a new situation knowing what to expect and no one takes advantage.
You are from out of town.
This is a common one here in beautiful Duplin County, North Carolina. If you are purchasing a home from out of town (or trying to sell from your new location), a real estate attorney is a great resource.
In many cases, a real estate lawyer can help iron out a real estate transaction’s details while you are in another location. Real estate attorneys can work with you throughout different steps of your property buy or sell, while also collaborating with real estate brokers. If you’re an out of town buyer, you might hire a real estate lawyer to serve as your representative. This will ensure everything is done correctly while following local laws and ordinances, as you wrap things up from a distance.
When a potential issue arises between buyer and seller.
Hopefully, your home purchase or sale will be a smooth process, but problems can arise, and a lawyer can help you.
For example, if you made an offer on a home, then the seller becomes reluctant. Maybe there was another offer for more money after accepting yours, and they want to go back on their agreement. In this situation, having an attorney to help you enforce what was originally agreed upon.
If you are buying a foreclosed property.
Foreclosed properties often look very appealing if you’re looking to save money or use it as an investment. However, buying a foreclosed home can be complicated.
Before you start looking at properties, seek the advice of a knowledgeable attorney. There is often more than meets the eye in these situations, and you must have a dependable lawyer looking out for your best interest.
Peace of mind.
Buying a home is one of the largest and most significant purchases you’ll make in your life.
While a real estate agent can help you find the right house and negotiate a price, a real estate lawyer is just as important. An expert real estate attorney will review any offer you make or receive and ensure your rights protected and your responsibilities are clearly defined. Having the aid of a real estate lawyer like Ludlum Law Firm can assist you with situations like:
- Understand purchasing contracts.
- Prep and register all legal documents.
- Prepare the deed and power of attorney.
- Attend closings and review papers required to sign.
- Arrange transfer of security deposits.
Ludlum Law Firm provides real estate legal assistance in Sampson County, NC, and Duplin County, NC. Having the aid of a real estate attorney team like Ludlum Law Firm can assist you with situations such as understanding contracts, preparing all legal documents, and arranges the transfer of deposits. Contact us today!
Contact our lawyers for a free consultation on how we can help you with your real estate needs!