If you are thinking about buying a new house, you should take a lot of time to think about it. Make sure that you can afford it and that you will be able to follow through on any payments. Be sure you have a list of what you want the house to look like: how many bedrooms, big yard, pool, etc. You should have this all in mind before you contact your realtor and, more importantly, your real estate lawyer.
Your realtor is the one who will find you houses to look at and properties to examine but it is important to have a real estate lawyer by your side as well. This person will be the one who looks over any offer you make and makes sure that it and your rights are protected. There are a number of services they will provide you when you are looking to buy a house.
First, they will help you understand the contract. This is a big plus as most contracts are written with big, legal terminology and can be pretty hard for the layperson to comprehend. They should also explain to you how and when you would take possession of the title. Before you sign the contract, they should check to be sure that there are no other claims or liens on the property that will prevent you from taking possession of it. This will save you time later and assures you that no one else can come along and lay claim to the house after you are living in it. Also, they should prepare and register all legal documents. If there are any contracts that need to be drawn up, they can be sure this is done in the proper manner so that there will be no repercussions at a later date. Another thing they will do is attend the closing and make sure that you are getting everything that you are supposed to and that everything is laid out properly.
Your realtor is the one who will find you houses to look at and properties to examine but it is important to have a real estate lawyer by your side as well. This person will be the one who looks over any offer you make and makes sure that it and your rights are protected. There are a number of services they will provide you when you are looking to buy a house.
First, they will help you understand the contract. This is a big plus as most contracts are written with big, legal terminology and can be pretty hard for the layperson to comprehend. They should also explain to you how and when you would take possession of the title. Before you sign the contract, they should check to be sure that there are no other claims or liens on the property that will prevent you from taking possession of it. This will save you time later and assures you that no one else can come along and lay claim to the house after you are living in it. Also, they should prepare and register all legal documents. If there are any contracts that need to be drawn up, they can be sure this is done in the proper manner so that there will be no repercussions at a later date. Another thing they will do is attend the closing and make sure that you are getting everything that you are supposed to and that everything is laid out properly.
Real estate lawyers aren't just for those people who are buying a house, however. If the time has come for you to sell your house, you will want to consider having a lawyer on retainer. There are a number of things they can do for you that will make your life and this adjustment easier. They can review the terms of the sale and the purchase agreement, making sure that it everything in the sale is covered and that nothing was left out. Also, if you need help negotiating the terms of the contract, the attorney can help finalize any details. Sometimes, no matter how hard you work to make sure everything will go smoothly, something goes wrong. If there is any issue with the title, your attorney can work to fix the situation and make sure that ownership is handed over in a timely fashion. Much like when buying a house, your real estate lawyer will also attend the closing and review any papers you will have to sign, just to make sure everything is on the up and up.
Whether you are buying or selling a house, be sure that you have a real estate lawyer on retainer. They provide numerous services that you will find useful as you pursue this venture.
Don't go into it alone. Learn more about the benefits of a Chattanooga real estate attorney at: http://www.presleylawfirm.com.
The main reason why you need a real estate lawyer is because of the contracts. Remember that these are legally-binding documents. Your lawyer can tell you clearly your liabilities and rights and the legal actions you can take when problems arise (i.e., breach of contract).
ReplyDeleteKathleen Salazar
I agree with Kathleen, mainly because of the contracts why one needs a real estate lawyer. It is better to be cautious of possible scammers than be sorry later when they’ve already taken your money with them.
ReplyDeleteMike Clark
I've been moving around a lot lately, and will soon get a home. So I really appreciated this article. I knew the basics of real estate, however, I didn't know that realtors must check on the possible hidden claims for your. I always suspected I had to do that bit. Now that I know this information, I know it'll help me in not only buying a house smoothly, but will help me find a good realtor as well!
ReplyDeletehttp://www.wsmclaw.com/services/