If you are buying or selling a residential home, you will not only need the services of a professional agent, you will also need to hire an experienced real estate lawyer. While an agent can help you find the right home or market your home for sale, there are extensive legal considerations to be aware of in a real property transaction. From offer to acceptance, being aware of the many legalities can help you avoid litigation. Here we will address some common questions about the need for specialized lawyers.
Do I Really Need a Real Estate Lawyer?
Many homebuyers are tempted to go the less expensive route, which is choosing to hire a non-lawyer service. However, the individuals that provide these types of services are not regulated by the state bar. Nor are they usually required to carry errors and omissions insurance. What may save you a few dollars now might be costly later.
Won't My Agent and Title Company Handle Everything?
While both agents and title companies are regulated by the state, they are not allowed to dispense legal advice. Although professionals, the state sets clear boundaries as to the role they play. What's more is these individuals might not be aware of certain legalities.
I am Buying a Home. What Should My Lawyer Do?
Explain your rights and obligations under the purchase contract.Perform and disclose due diligence the property is free of liens, covenants, legal proceedings and easements.Complete all necessary legal documents.File all necessary legal documents.Review your mortgage and negotiate the terms, if applicable.Analyze any adjustments and any possible tax consequences.Ensure proper title insurance is obtained.Ensure your ownership of the property is valid.Attend the closing to review all documents.I am Selling a Home. What Should My Lawyer Do?
Review the purchase offer and make changes as necessary.Negotiate terms of the purchase offer on your behalf.Prepare Power of Attorney documents, if applicable.Review the deed.Address any title issue that may arise.Oversee the transfer of title and security deposit.Attend the closing to review all documents.How Do I Find a Qualified Attorney?
Contact your state bar. In addition, contact the local Better Business Bureau and/or Chamber of Commerce. You may also ask your agent or mortgage broker for a recommendation. With an experienced real estate attorney, you will have peace of mind when buying or selling a home.
Celli & Associates is a real estate law firm that has been in practice for over 20 years. Our real estate attorneys serve residential and commercial real estate clients in the Philadelphia area.
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ردحذف-David
brooklyn real estate lawyer