In addition to being a large financial commitment, buying a home is also a complex legal process with many hidden pitfalls. While buyers in most states aren’t required to have a real estate attorney handle the transaction, consulting a legal professional can ensure that your rights are protected. Below are a few reasons to consult a lawyer when buying a home.
The Benefits of Hiring a Real Estate Attorney
Buying a home involves extensive paperwork, including the sales agreement, contract, and mortgage documentation. Unfortunately, many buyers often sign these documents without fully understanding the terms, some of which may not be in your interests. With their understanding of the law, a real estate attorney can review these important documents, identify items that may cause issues, and recommend changes.
For instance, an attorney will ensure that the sales agreement accurately reflects the agreement you made with the seller before signing. Your real estate attorney can also come up with solutions to more complex legal problems, like unlicensed rental units or zoning issues, before the sale is complete.
Navigating the Sale With an Attorney’s Help
Your real estate agent has the expertise to help put together an offer and negotiate with sellers, but your attorney should handle all of the legalities. Once the agents have drafted a sales agreement, have your lawyer read it over before signing. Your attorney can help you spot any vague and unclear terms in the document, including omissions of certain circumstances that may arise after your purchase. You may also want your attorney to draft the final contract, which ensures your interests are protected. Mistakes in the mortgage paperwork can have a dramatic impact on your finances, so ask for a real estate attorney’s review before accepting a loan.
With over 40 years’ experience serving homebuyers throughout the Bronx, NY, Stephen B. Kaufman, P.C. is a law firm you can trust. The members of this team pride themselves on having the resources and skill to protect your interests and minimize the risks of buying a home. Visit their website to see how they can help, read more legal tips on Twitter, or call (718) 822-0500 to consult with a real estate attorney.