4 Reasons to Have a Lawyer Help You Purchase Real Estate

January 20, 2019

Buying a new house for you and your family can be exciting and overwhelming at the same time. It is exciting because it likely represents a new chapter in your life and it also shows you’ve gained a measure of financial stability and independence. On the other hand, a real estate purchase can be somewhat intimidating. After all, it is both a huge investment and one of the most important financial decisions you’ll ever make. Therefore, it is important not to leave any details of the transaction to chance and to take advantage of all the help available to ensure a successful purchase, free of any financial risk.

If you are considering a real estate purchase, it is likely that you are already working closely with a realtor, real estate agent, or broker. Their assistance and expertise will no doubt be instrumental in finding a house most suited for your personal needs. What happens, though, if some unexpected legal issues arise before or during the actual purchase? In most cases, the legal expertise a realtor or an agent may have is unfortunately greatly limited. That’s why before entering a real estate transaction, you should consider obtaining the assistance of a real estate lawyer. In this article, we will detail 4 ways in which a lawyer can help you purchase real estate.

Help with Complex Paperwork

Any real estate transaction comes with a number of important documents ripe with complex language and terms that are difficult to understand for a person without a legal background. Such paperwork may include the deed, mortgage loan documents, title insurance policy, and more. A lawyer will help you make sense of all such documents, explaining to you their meaning and any potential ramifications they may have on the final transaction and your ownership of the property.

Purchase Agreement Review

A lawyer can also review the final purchase agreement, explain to you all the terms that may seem vague and even change the wording of it to make it clearer, unambiguous, and easier for you to understand. He or she will also make sure that the contract addresses all potential legal problems and that none of its clauses will have a detrimental or harmful effect on your interests as a homeowner.

Discovering Hidden Legal Problems

Most real estate purchases come with a certain degree of risk. The risk is often related to some undisclosed legal issues affecting the property that a buyer may not even think to check. For example, there may be problems related to the structure of the property such as illegal modifications. There may also be some hidden liens and encumbrances or illegal ownership issues. An experienced real estate attorney will both know what problems to look for and be able to perform an inspection to uncover all the issues that may negatively affect the transaction and the buyer.

Help with the Closing

The closing is the most critical element of any real estate transaction. Its complexity is often confusing for the buyer and, due to unexpected issues that come up at this stage, many real estate transaction fall through right at the closing table. Having a lawyer at your side during the closing can make you feel more secure and be instrumental in resolving any last minute issues or dispute that may arise.

Choose the Right Real Estate Attorney

Schlegel Livingston, LLC is a real estate law firm/title company offering comprehensive legal assistance on real estate purchases. We perform title searches, review the contracts and the loan documents, and offer title insurance services. We make sure that our clients’ needs are well-attended to and that their real estate purchase goes smoothly from the very beginning to the very end. If you are preparing yourself to buy your dream home, working with Schlegel Livingston, LLC will give you peace of mind during the whole transaction process and greatly increase your chances for a complete success. Contact us today to learn more about our services and offers.