A Realtor Isn't Enough: Here's Why You Should Hire A Real Estate Attorney When Buying A Home
Now that you've decided to purchase a home, you're probably looking for a realtor to work with. As you do this, you should also be looking for a real estate attorney to work with throughout the buying process. Here are a few important reasons to consider doing so:
Get Unbiased Insight
Having the opportunity to get some unbiased insight is one great reason to hire a real estate attorney when you're ready to start searching for a home to buy. While your real estate agent will help you find the house of your dreams, the truth is that they're in it for the commission and not your best interests. Their job is to make money by making deals for their buying and selling clients.
However, you can count on your lawyer to provide you with the information you need to make an educated buying decision, even if that means that you don't end up buying a prospective house. They're not interested in whether you buy a house or not. They're interested in whether you have the in-depth information you need to decide whether a home purchase is the right decision for you when all is said and done.
Gain Some Peace of Mind
Another reason to consider hiring a real estate lawyer when buying a home is to make sure that you understand all of the legal aspects of a purchase before making any commitments. Your lawyer will work with your realtor to make sure that things like a title search, home inspection, and lien background check are completed on time. They will also make sure that you know what your legal obligations are if you end up deciding to discontinue your purchase contract for some reason.
Your lawyer will also let you know what your options are if an issue like an illegal structure comes into play. They can even help you draft inspection contingencies that will protect you if problems like lead paint, pest infestation, or asbestos become apparent after you purchase.
Receive Ongoing Support
Your real estate attorney won't stop working for you once you purchase a home. They will be there to address your questions and concerns about mortgage and interest rates when necessary, and they'll walk you through the process of negotiating new terms if a part of your contract is broken by the other party for some reason. Any legal help you need with your new home — whether it's been a week or a year since purchasing it — can be easily taken care of by your lawyer because they'll already know all about the position you are in.
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