If the dream of owning your own home is about to come true for you, before you put in that offer for purchase you might need to take a step back and consider hiring a real estate attorney. Having an expert in real estate law on your side could make the path to being a homeowner far smoother and stress-free, especially for first-time buyers. Read on to find out the top 10 reasons to hire a real estate attorney.
1. The offer to purchase document (your offer to the current owners) is often simply a fill-in-the-blank type form, and may not address specific or unusual areas of concern about your home-to-be. An attorney will be able to review the document to ensure that it truly addresses all of your needs.
2. Few pre-buying tasks are more important than a title search. Make sure you have a lawyer to oversee this job and to help ensure that your new home is free of encumbrances.
3. A survey of your potential property will be required by the mortgage company, and a real estate attorney can help you to have a clear understanding of how easements give access to your property for private parties, utility companies, and municipalities.
4. It's important to have full comprehension of how your new home is being financed, and having a neutral party by your side to advise you can help ensure that you understand this long-term financial commitment.
5. Closings can be complicated and confusing, so it's vital to have an attorney present to protect your rights and advise you if a last-minute issue arises at this meeting.
6. Real estate agents may not be reliable sources of information about issues like zoning. A real estate attorney from the local area can be an invaluable source of knowledge about zoning, such as the potential for that verdant forest in back of the home to be re-zoned into something much less desirable. Zoning can also come into play if you plan to add a addition or use your home as a business location.
7. For-sale-by-owner homes can offer a wonderful bargain, but a legal professional with your best interests in mind will be needed to ensure that all documents are correct.
8. Probated properties, foreclosures, and short-sales all present special circumstances that require a real estate attorney's assistance.
9. In the event that you want to drop the offer entirely, you will need an attorney to help you avoid losing your deposit or earnest money by locating and utilizing contingencies in the offer contract.
10. On the other hand, you will need an attorney to help protect your rights if the owner changes their mind at the last minute and refuses to sell.
Buying a house can be both a joyful and overwhelming process, so make sure you have a real estate attorney by your side to help pave the way toward your dream home.
For professional legal help, contact a company such as Souders Law Group.