People have been buying and selling homes for a long time. It seems like the process would be more straightforward. The truth of the matter, though, is that buying a home can be complicated.
With all the possible complications and with how much money you have at stake, it might be a good idea to have an attorney to guide you through the process. After all, there is a point where things can get too complicated even for the best real estate agents.
A lawyer can help you with negotiation
Your agent might be experienced enough, but the commission they get for closing the sale suggests that they might be more interested in closing any deal rather than the right deal.
An attorney, who will get paid regardless of the outcome, will help you negotiate the deal that is in your best interest, rather than the one that gets a commission.
Attorneys know all the documents and where they go
It seems like there's no end to the complicated paperwork when it comes to buying a house. There's the purchase agreement, the mortgage documents and the inspections just to start. All of them are full of unfamiliar terms and obligations that can be difficult to understand.
Real estate agents tend to use standard forms as a one-size-fits-all solution. This might work for some transactions, but what about yours? An attorney can explain all the parts of the agreements so that you are able to understand what everything means and what your obligations are. An attorney can also help you draft terms for your specific situation.
There's also the part of the transaction that includes getting all the paperwork to the proper places. An attorney can make sure that everything is filed with the correct authorities so that you can be sure that nothing got missed in the process.
Lawyers can help with title troubles
The title can bring along its own set of complications. It seems like it would be the most straightforward part of the deal, but since a home can be used as collateral for large purchases, there could be a lien on the property that you don't know about.
In this situation, an attorney can help you look for any issues with the title and help you get any liens cleared so that the title is ready to change hands on closing day.
An attorney can smooth out closing day
Closing day is a big day and there are any number of things that can go wrong. There is a large amount of money changing hands and many documents that to sign. Having an attorney at closing will ensure that one of the people at the table has your interests in mind.