Lawyer vs. Real Estate Agent
Although it is true that ordinary real estate transactions do not require an attorney’s help, an attorney can help decrease your chances of being sued by an opposing party in the future. An example would be failure to disclose specific information. Even if you have a real estate agent, the agent is not qualified to make judgments on legal issues regarding language in the purchase contract or your mortgage.
What Can a Lawyer Provide to You that a Real Estate Agent Cannot
An attorney who specializes in real estate law can review your purchase offer. Unlike a real estate agent, an attorney will be able to look over the complex contract and make sure it covers all necessary information to protect you. For example, an attorney can help implement clauses in the contract regarding home inspections. Another example is if you submit an offer and the seller counters the offer, the seller will revise the contact. Hiring an attorney to review these revisions will be beneficial. A lawyer will make sure the contract is complete, thorough, and executed properly.
Finally, as the process comes to an end, you will receive a deed to your new home proving your legal ownership. An attorney will help you figure out how to title your property. For example, if you are married, you may want to title your property as joint tenants with the right of survivorship. On the other hand, if you are buying a home with someone else, you may want to title the property in joint ownership as tenancy in common.
If you have questions regarding your purchase contract, how to title your property, or just want to make sure you are fully protected when buying or selling your home, call The Law Office of Charles H. McClenaghan at (614) 429-1053 to schedule an appointment!