When buying real estate, why is it important to have an attorney?
Whether you are a first-time home buyer or have purchased real estate in the past, it is important to hire an experienced real estate attorney. A purchaser’s real estate attorney is responsible for reviewing and negotiating the real estate purchase agreement to ensure all necessary revisions are made and that you have a document that is solid prior to making one of the biggest investments of your life.
Many people make the mistake of thinking that they can represent themselves. They find out the hard way that an experienced attorney could have save them a lot of money, time, and stress. Hiring An experienced attorney will help you with the following:
- Negotiation of the real estate contract
- Request Modifications and Repairs
- Discover any title issues
- Verify that the property is not in a flood zone
- Collect information related to any homeowner’s policy claims
- Ascertain any possible issues with mold
- Confirm information on the disclosures is accurate
- Verify the seller had proper permits and inspections for any upgrades or repairs completed.
- Confirm that Seller is not aware of any pest infestation
- In the event of default by the buyer, the Seller’s sole and exclusive remedy would be the retention of the Buyer’s earnest money;
- Review all final Settlement Statement for errors
BUYER’S REAL ESTATE ATTORNEYS
A purchaser should hire an attorney is to assist with discussions with the seller’s attorney regarding home inspection issues, and repair requests. Generally, a purchaser hires a qualified, licensed home inspector to determine the condition of the property. During this stage of the transaction it is important to have a skilled experienced attorney to make sure that all your demands are met or credits for repairs are given, or in the alternative you cancel the contract properly.
RESPONSIVE AND PASSIONATE REAL ESTATE LAW FIRM
Our real estate lawyers and support staff are skilled and experienced in the areas of residential real estate, real estate investment law, real estate asset protection, and commercial real estate law. If you are buying real estate, we are the right choice for your residential real estate legal needs. Sean Robertson and Robertson Legal Group, LLC may be reached at 630-780-1034 or contact us online.