You finally decided to bite the bullet and buy a home! House hunting can be a thrilling process, but it can also be fraught with confusing paperwork and financial pitfalls. While a real estate agent can help you with finding your dream home in the perfect neighborhood, you may want to consider what a real estate lawyer can do for you.
Real estate lawyers are well-versed in the legalese that comes with buying homes. Since they are so familiar with the process, it is that much easier for them to spot any mistakes or holes in your contracts or agreements with the other parties. Any missteps that go unnoticed could end up costing you much more time and money than you are prepared to cough up. Even a misspelling or wrong date can bring about unnecessary problems.
Lawyers can also be handy in scenarios where there is something unique about the home or property. For example, if the home was built some years ago and has since been renovated, there might be cause to suspect add-ons were not built to code or properly permitted. A real estate lawyer will help to ensure that the proper inspections are scheduled and carried out. If anything seems amiss, a lawyer can offer the appropriate guidance for next steps.
Staying On Track
Aside from inspections, there are a number of other events that generally occur during the purchase of a home. These include contingencies such as attorney approval and mortgage commitment. Once these dates are set, you must follow each specific timeline. If any of them are missed, you might incur fees or penalties. More importantly, it could even result in preventing you from backing out of a deal if you come to that decision. A real estate lawyer will keep everything on task so that these issues do not arise.
The bottom line is this: the more tools you can bring to the real estate table, the better. The benefits of having another expert by your side heavily outweigh the cost of service, or worse - the potential cost of a mistake. Buying a home is already a complex process, make it easier on yourself by hiring a real estate lawyer.