You’ve gone through the whole rigamarole of researching homes, attending viewings, and making offers. Now, at long last, you’ve had an offer accepted on your dream home. You can just sit back, relax and wait for the money to go through, right?
As with many things concerning homeownership, it’s not that simple. Agreements with the bank and the seller are complicated. They need to adhere to strict deadlines. They need to be signed and witnessed. And they should be reviewed to ensure that you are fully informed and protected. Further, there are closing documents, mortgage instructions, title transfer, title insurance, etc. And that’s if everything goes according to plan.
For all those reasons, you need a real estate lawyer in your corner. Whether you’re buying or selling, you need a legal professional on hand to help explain, prepare and review a bevy of documents. In this article, let’s review what a real estate lawyer does, their role and where to find one.
Your Go-to Communicators
Sellers, buyers, mortgage brokers, land registry offices, and realtors all operate separately with little to no interaction. The role of a real estate lawyer is to act as an effective communicator among the parties. Homebuying and selling can be a stressful process. Having a competent, professional go-between takes some of the weight off of your shoulders, meaning you relax knowing that the communication is being capably handled.
Closing is often described as the “most important event” in the entire buying and selling process. It’s when you sign the final papers and complete the final transactions. It’s essential to have a real estate lawyer on hand to explain your sales or purchase contract and flag any issues that might disrupt the closing. On the day, your lawyer will also create the “statement of adjustments,” which details the final transaction once all adjustments are made and fees added.
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Help with the Unexpected
It doesn’t happen often, thankfully, but occasionally things go awry. Perhaps the seller doesn’t have a lawful right to sell, or the seller is a fraudster committing title fraud. In these cases, you want a competent lawyer on your side to protect your biggest investment.
Translating Confusing Legalese
Agreements have to be written in such a way that they leave nothing to individual interpretation and imagination. Consequently, agreements can look as though they’re written in Greek. Real estate lawyers speak “legalese” – the technical legal jargon written into agreements – but they also speak the language of laypeople. Think of them as valuable translators that keep you as informed as possible.
Where to Find a Real Estate Lawyer
You don’t need to pay a high price to get great real estate legal services, nor do you need to meet in person. These days, you can find qualified, expert lawyers online. Look for a real estate law firm that has good reviews, transparent pricing, and 7-days-a-week availability.
The last thing you want is to find your dream home only to have the closing dashed by missed deadlines, poor communication, improper signing, or unexpected problems. If you’re buying or selling, protect your interests with a real estate lawyer.
Featured Photo by Alexander Suhorucov from Pexels