Real estate transactions involve significant amounts of money, so you don’t want to take any chances during the process. While you don’t need a lawyer by your side every step of the way, a lawyer’s insights can be beneficial at certain points. Protect your interests and get the input of a legal professional when facing these scenarios.

3 Times to Consult a Real Estate Law Attorney When Buying Property

1. Reviewing the Purchase Agreement

Always have a lawyer review any purchase agreement before signing. They can explain unclear language and technical terminology. Additionally, they can provide a legal perspective on the standard purchase agreement template often used by real estate brokers. For instance, if the property is to be renovated before final sale, how will this be done and by what deadline? What happens to the down payment if the sale doesn’t close?

2. Overseeing the Title Search

A title search must be concluded before any real estate purchase can conclude. This guarantees that the seller has the legal right to sell the property in question. If there are encumbrances attached to the land — such as mortgages or liens — this could prevent you from taking full possession. Enlist the help of a lawyer to ensure the title search is legitimate.

3. Closing the Transaction

Concluding any real estate deal will require reviewing diverse closing papers, including the deed, title, and purchase agreement. The balance of the purchase price must also be paid as well as a closing statement indicating any debts and credits between the seller and buyer are drawn up. Your property attorney can ensure these figures are fair and explain the documentation to you.

Stuart R. Norman Jr. provides comprehensive real estate law counsel to residents of Griswold, CT, and the surrounding areas. Known for his meticulous attention to detail, Stuart will take the time to carefully guide you through the buying or selling of a property. Thanks to his local roots, he is well connected to many of the area’s real estate professionals. Learn more about his experience in the field online. To discuss your needs directly, call (860) 376-0069.