Whether you are buying or selling a home, you might benefit from a real estate lawyer. Find out the typical duties of this type of legal specialist.
The purchasing process is fraught with tons of paperwork, and if you do not understand it, you are wise to have a real estate lawyer explain it to you. This type of expert can ensure that you understand the contract before taking the title, and can also make sure the mortgage terms are to your liking. Lawyers also often check the title of the home to make sure there are no liens, covenants, or other legal issues surrounding the property. Thus, it is important that your attorney work with before, during, and after closing. You can expect them to spend much of the time before the sale doing research on the property, and also explaining paperwork to you. During closing, the attorney should look over the paperwork before you sign to make sure it is the standard documents rather than a bait and switch on the part of the seller or lender. Finally, it is their job to make sure you get ownership under the terms you have agreed to, possibly along with title insurance in case there are any problems with the title.
Selling a home also sometimes requires the use of a real estate lawyer. You should have this expert look over the terms of the contract before you present it to the buyer, as you need to make sure it is fair to you while being attractive to the buyer. Your attorney may also have to negotiate the terms with the lender or buyer and any representatives they have, while also ensuring that you get any necessary security deposits. Note that sellers usually pay less for lawyers than buyers do, as this type of specialist tends to do less for sellers. However, it is still important that you have a real estate lawyer present during closing, as you need someone to look out for your best legal and financial interests.
Hiring this type of lawyer is not always necessary, but when it is, your agent should let you know. If the sale seems complicated, or you have legal questions that your agent cannot answer, they should refer you to a legal representative. This way, you are unlikely to purchase a house encumbered by liens or bad sales terms, and you are unlikely to unexpectedly lose money when you sell your home. Therefore, you are encouraged to attend a consultation to get advice from an attorney either way.