Buying a home is one of those major life purchases that have many costs along the way: home inspection, real estate agent, broker, notary fees just to name a few. Why would you need an attorney for a real estate transaction? Doesn’t the real estate agent handle all the necessary documents and look after the clients’ best interest? If most real estate transactions are accomplished without any problems, is the expense of the real estate attorney money well spent? All of these are valid questions, but consider what you would do if something did go wrong. Remember, the real estate agent can make no legal judgments should problems arise.
The following are all good reasons why having an experienced legal team is crucial to successful real estate deals:
- In the event of a problem with the property (such as an IRS tax lien that the homeowner forgot to mention before selling you the house!) a real estate attorney can move in to defend or file lawsuits on your behalf
- Legal documents and contracts, written in “legalese”, can be difficult to interpret for the average person. One of the most important functions of a real estate attorney is the ability to comprehend legal documents and make changes that benefit you where necessary. They review inspections, leases, appraisals, and purchases to make sure you are covered.
- One of the most compelling reasons to hire a real estate attorney is, of course, to save you money. Imagine the extra fees and paperwork involved if your loan application had errors and no one caught the mistake until it was too late. A real estate attorney knows to check for these issues, solving the problem before it becomes one.
- Real estate attorneys also afford an added protection against pushy sellers, escrow agents, or brokers in the event things turn ugly in the negotiations.
- When selling a property, you have a team to help you with any title problems. Often title defects can be removed if the attorney has a working knowledge of the issue
The bottom line is: why take a chance with your money, time, or property? Koontz Law, PLLC has the years of real estate law experience to make sure your best interests are being preserved. You’ll sleep easier knowing that you have real insurance against unforeseen problems when buying or selling real estate.