Buying or selling a home is stressful, and if not done right, can cause major headaches. Let’s face it– no one wants the added stress during the already busy holiday season. A real estate attorney will negotiate and make the transaction come together in a peaceful manner that’s fair and amenable to all parties. Whether you are a buyer or seller, it is vital to obtain a real estate attorney to ensure the best protection and peace of mind.
Advantages for Buyers:
Contracts
While most individuals have the ability to negotiate face-to-face with another party, the terms of the deal must be properly memorialized in a contract for them to be legally binding. Attorneys can do that by not only negotiating on your behalf but also making sure that the contract adheres to all state laws as well as addresses any specific issues that might affect the future use of the property.
Title
Real estate attorneys oversee all title work, ‘title’ referring to evidence that proves a person’s legal right to the ownership of a property. Title work involves a search of all the relevant land and public records. This search reveals encumbrances, or burdens on the property such as restrictions or easements, imposed by a prior owner, or other issues that need to be rectified before closing. The outcome of the title search is extremely important because it reveals whether the seller has the legal right to sell the property. An attorney will be able to provide this service much faster, and often with less cost because real estate attorneys have working relationships with title search companies. The attorney also assures that the fees charged by the bank are correct, and reviews other documents for accuracy, including any taxes due.
Filings
Real estate deeds often need to be filed at the county and state level. The filing process may differ from county to county. An attorney will be able to do this quickly and efficiently as they are familiar with the filing process.
Advantages for Sellers:
Contract
The contracts of selling the house need to be carefully examined, as they can be used against the seller in case of a liability. Real estate attorneys help the seller in drafting the terms of their sale. Real estate attorneys take care to ensure terms are clear and show the seller’s intent to prevent future issues. Real estate attorneys also guide the seller in case of counter-offers, and help prepare or review all the paperwork, including deed, power of attorney, and the proposed settlement statement from the buyer’s attorney.
Closing
Real estate attorneys will prepare many of the documents required to close. In some instances, real estate attorneys can arrange for you to sign the appropriate documents ahead of time so you do not even have to attend the closing. Your real estate lawyer will also review all closing figures and explain what is happening with your money to assure that you do not pay any unnecessary charges.
As you can see, whether a seller or buyer, it is critical to obtain a real estate attorney before becoming too involved in a property transaction. Having an attorney on your side will not only protect your interests, but also take the ease off of an easily-stressful situation, and leave more time to enjoy the holidays. Save yourself the headache– call us today at (614) 452-9724 to discuss your situation with one of our experienced attorneys today!