Consulting a residential real estate attorney can provide you with some worthwhile benefits. Generally, hiring a lawyer means having a professional looking out for your interests, which can save you time and money. There are many more advantages to working with a lawyer, such as those listed below.
4 Reasons to Hire a Residential Real Estate Attorney
1. Make Modifications to the Contract
Your residential real estate attorney should review your contract to buy a home under any circumstances. This will involve ensuring it’s a fair and legal deal before you sign it. Your lawyer will also explain the terms of the contract to make sure you fully understand what is included. For instance, if the seller has orally agreed to pay all closing costs, but that stipulation isn’t mentioned in the contract, your lawyer can add that to the final draft. The transaction will move forward more smoothly when you have a lawyer who can modify the contract.
2. Convince the Seller to Make Repairs
While a buyer can’t demand extraordinary modifications to the home, the seller may be required to make repairs to safety features, address a pest control problem, or conduct other essential repairs. Your attorney can help make sure the seller complies before you move forward with the sale. Otherwise, you may be stuck with the financial burden these repairs would create.
3. Assist With the Title Search
Before you buy title insurance, it will be necessary to conduct a thorough title search to identify any claims against the property. As the buyer, you could potentially lose your down payment and your new home if there is a tax lien, inheritance claim, or another type of claim against the property. However, your attorney will help ensure the search is thorough and will offer legal advice to protect you against any undiscovered claims that may arise later.
4. Attend the Closing
The closing is the final meeting between the seller and buyer to complete the paperwork and to ensure all the contingencies have been met. Your lawyer should be present at this meeting to review each document before it has been signed. This will give you an extra measure of protection and help make sure the transaction has been legitimately completed. Even though the real estate agent will also be present, your attorney will make sure your interests are protected.
Buying a home is an exciting life event, but it’s a complicated legal process as well. Since the seller, lender, and agent will all be looking out for their own interests, hiring a residential real estate attorney will help you protect yourself. Greene Law PC is located in Farmington, CT, and has been serving the community for more than 25 years. Their legal team can help you navigate the complexities of a real estate transaction, so you’ll have a more positive experience. To schedule a consultation, call (860) 676-1336 or visit their website to browse their practice areas.