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Health & Fitness

What to Expect from a Real Estate Attorney

The closing process can be daunting with the mountains of paperwork that come along with it. You just may look into a real estate attorney. Read my blog to learn what to expect from them.

Buying a new home or selling an existing house is a complicated process jam-packed with mountains of paperwork and legalese. Navigating the ins and outs of the closing process can be particularly daunting if you haven’t done so before. Real estate attorneys are required in some states – though not in others – and some lenders prefer that you hire a lawyer to make sure that all of your documentation is in order.

If you’re buying a new home, once your real estate agent has assisted you in negotiating an offer and the closing date is looming, it’s not a bad idea to retain a lawyer to make sure that your rights as a buyer or seller are protected. A real estate attorney can assist in the following ways:

• Preparation of agreements, documents, and contracts.
• Explanation of your legal rights and responsibilities.
• Verification of evidence of a proper title to the home.
• Substantiation that there are no liens or covenants on the property that would nullify or complicate the sale.
• Assistance in procuring title insurance.
• Resolution of any legal questions that arise.
• Validation that the entire transaction is being conducted in compliance with the law.
• Advice in any decisions you make during the sale.
• Clarification of the terms of your mortgage.
• Review of any documents you are asked to sign upon closing.
A buyer isn’t the only party in a real estate transaction who can benefit from hiring an attorney. Sellers, too, may wish to hire a lawyer for the following assistance:
• Review of all contract language to make certain the seller approves of all contract provisions.
• Assistance with negotiation regarding aspects of the property.
• Advice pertaining to legal matters that arise.
• Preparation of the property deed.
• Assistance with transfer of funds.
• Arrangement for power of attorney in the event that the seller does not wish to attend the closing.

Should serious legal disputes crop up, a real estate attorney can also assist with litigation, but having a lawyer on hand can help you to avoid getting to the point that you will be involved in a lawsuit.

If you wish to hire a legal representative as you embark on the process of buying or selling a home, your agent can help you find a reputable attorney to help with your purchase or sale. Retaining a lawyer who understands the ins and outs of the real estate process can be a vital safeguard against anything that might go wrong – and as with any complicated transaction, that extra bit of security could go a long way toward your peace of mind.

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