In most states, you can carry on with a real estate purchase without the help of a lawyer. Still, in some such as Massachusetts and New York, only a lawyer can carry out title searches, prepare and submit legal documents and close the sale. If you are wondering why you need a real estate closing attorney, here are some things you should remember:
You might not fully understand the legal, property purchasing processes
You need someone who looks after your interests when carrying out the transaction
You need an experienced person to verify the documents and the transactions
You will need legal advice throughout the purchase process
As much as a real estate agent is helpful and necessary when purchasing real estate, only a real estate closing lawyer has your interests at heart. Likewise, although a real estate agent can help with most processes, legal aid gives you an upper hand, and it doesn't cost as much. If you are buying a home, here are the reasons you should hire a real estate closing lawyer.
You Need Someone to Look at the Agreements
Because most purchased homes were previously owned, some may have potential concerns that you and the seller need to agree on, such as fixing structural issues or fixtures. The seller can let you take care of the problems but after reducing the home purchase price. Your lawyer will look at the home inspection report and the seller's agreement, then advise whether to take up the deal or negotiate a better one.
You'll Have Someone Prepare the Documents
It's important that you rely on your attorney — rather than the seller's — to prepare your documents, carry out the title search, and transfer the funds after reviewing all the paperwork and purchase contract. Purchasing a property involves a lot of paperwork, typically too complicated for an ordinary person to understand. Fortunately, a real estate closing attorney will explain everything in simple and easy-to-understand language and do most of the strenuous work on your behalf.
You'll Have More Peace of Mind
In 2020, 31% of home buyers were first-time buyers. Many of them were inexperienced, and having a real estate closing attorney gives first-time homebuyers more peace of mind. The assurance that you have a skilled person check out every document, every step of the purchase process keeps you calm. You're also less likely to make costly mistakes.
Contact a real estate closing attorney for more information.Share