When you’re buying a new home, you’re faced with many uncertainties. Still, some sellers prefer to sell without a real estate agent, and this may leave you a little concerned about costs and about closing the deal. So you may be wondering whether you need a real estate agent or an attorney to help you buy your next real estate property. Below are a few reasons why you should consider seeking legal assistance when buying or selling a property.
Understand Real Estate Law
Every state has its own real estate laws, and while you may not need a real estate agent to help you buy a property, you probably do need a real estate lawyer. You will need a lawyer to prepare the home purchase contracts, do a title search and finish the sale process. Basically, you need an attorney to represent your interests in the sales-purchase process.
Hire a Real Estate Lawyer When Buying
Buying a property can be complex, so having a real estate lawyer on your side can get you through the process faster and more efficiently. There is also a lot of paperwork involved, so it can be beneficial to have someone on your side to help walk you through it. Plus, there are also other issues to deal with in real estate. There are things like hiring a home inspector, negotiating repair work, handling closing costs, and more. Dealing with these issues can be difficult without the help of an attorney.
Avoid Using the Seller’s Attorney or Agent
One of the best reasons to hire a real estate attorney is because sellers usually have their own agent, but you don’t want to use their services. In fact, it is in your best interest to rely on your own attorney so both you and the seller can reach a fair agreement together.
Learn how an Attorney Can Help Sellers
If you’re selling your property, you may also need a real estate attorney who can help you by:
Creating a sales contract
Negotiating the terms of the contract
Reviewing the title
Correcting any mistakes from the title report
Reviewing the settlement statement
Determine What Attorneys Charge
Most real estate attorneys charge a flat fee for this type of transaction. However, some will charge an hourly rate. Whatever the cause, if you use the services of a qualified attorney, you’ll have peace of mind in knowing that your attorney will take care of all the legal documents.
Whether you are the seller or the buyer, you need to have a law professional oversee all of the documentation and represent your side of the negotiation.