Do I need a real estate attorney?
August 09, 2024
Many times realtors are asked Do I need a real estate lawyer? what do they do? First, not all attorneys are specialists in real estate transactions. Real estate specialists are familiar with all aspects of the home purchase process. They are equally at home with buyers, sellers, or lenders.
Some people hire an attorney early in the process. they may review the brokerage contract for the listing. Later in the process, they can be hired to represent a buyer, overlook the sales contract, represent the buyer at closing, and deal with any home inspection issues.
Most real estate contracts used by realtors that are part of the MLS network, have a built in period of time for attorney review. At this time, after discussion with the party that hired him/her, they can suggest changes, accept the contract as written, or disavow the contract entirely.
Mosst people that are hiring an attorney for the first time ask about the fee, availability, typical srvices and if the attorney is familiar with real estate matters.
Here are the benefits of using an attorney. They will exclusively represent you, that is, they will try to make sure you are receiving an independent, thoughtful, and good advice from your realtor, lender, and home inspector.
They can explain any complex legal issue that comes up with the title, home inspection or lender.
A real estate attorney can help provide assurance that you are making the right moves as you proceed with possibly the largest purchase you will ver make.