3 Things A Real Estate Attorney Will Do When Buying A Home
In the process of buying a home and told that you need to find a real estate attorney? They provide a crucial service in the home buying process that will ensure that everything goes smoothly. Here are some of the things that they will do for you.
Reviewing Initial Contracts
The very first thing that you are going to need help with is reviewing the initial contract between you and the seller. If you have never signed a contract before to buy a home, you may be unsure what you will be looking for to make sure that it is a fair contract. A lawyer will help spot things that could be wrong, such as not allowing you to back out of the sale if the inspection doesn't go well, if the home is under appraised, or if you do not secure financing through no fault of your own. If these provisions are not in the contract, you could end up losing your earnest money if the sale falls through.
Reviewing Final Paperwork At Closing
Another important aspect comes at the very end of the home buying process. You will likely sign more legal documents on your closing date than you will for any other transaction. If it was left to you to read and understand all these documents, you could have no idea what you are doing to know if they are correct or not. That is where your real estate lawyer comes in.
Your lawyer can review all of the documents that you sign prior to closing and actively look for problems that need to be fixed before you sign the paperwork. For example, you'll need to sign the mortgage documentation from your lender to secure your financing. However, the incorrect terms may be in the paperwork, causing you to agree to a higher interest rate than you thought you had. Your lawyer can catch these problems early on and make sure that you're signing the right documents.
Taking Legal Action If Necessary
If you do run into a problem during the home buying process that requires legal assistance, your real estate attorney can step in immediately to help solve the problem. For example, the previous owner may not have moved out by the agreed-upon time in the contract, or repairs were not made by the closing date per a prior agreement. Your lawyer can take the necessary legal action to ensure that the buyer's end of the agreement is held up. Contact a real estate attorney for more information.