Why You Need To Use A Real Estate Lawyer When You Buy Or Sell Your Home

Law Blog

You are in the process of either selling or buying your home and you have most likely been told by your agent that you should hire a lawyer to help with the sale or purchase. You might have wondered why this is such an important aspect of the transaction.

Well, it's because it is a legal transaction worth a lot of money and a lot of legal moving parts and any one wrong move can spell a big problem for you causing the house sale to fall through or even eventual legal problems with the home.

Title transfers and Search

One thing to consider when buying your home is the title search and transfer. This is the legal ownership of the property in question. A real estate lawyer will search the records for the property to see if that home is really the vendors to sell. In other words, are they the legal owners or do they have permission of the owner to sell it?

They check their name, that the home address is accurate and any outstanding loans against the property. The title is transferred to the new owner once financing is obtained and the written contract is completed.

Legal Terms

Like with any contract, purchase agreements may have some terms you might not be familiar with or that might be vague in nature. An example of a document you might be asked to sign is a brokerage agreement. This is pretty standard with real estate agents but they don't always cover all important aspects of the agent's responsibility to you or you might not understand the legal terms listed on it.

If there is no brokerage agreement, it's possible that you might have to pay more than one brokerage fee or commission to the agent. Hence why it's important to have an agreement in place and have a lawyer look it over. When you hire a lawyer to help with the process, they can negotiate terms and appropriate fees as well as any legal terms you don't understand.

Purchase Agreements

The most important legal document when buying or selling a home is the purchase agreement. This contains the entire transaction, the price of the home, closing date, any stipulations or conditions on the sale and more.

A lawyer, such as from Ianniello Anderson, P.C., can go through it with you to see if what is written in the agreement is actually what you will get in reality. For example, was the property altered in any way once you did your last walkthrough and did you agree to it? Are any changes made to the property done legally? What if problems like insects, asbestos or waste are found on the property? What can happen if the closing date is missed and where does your the down payment go?


25 January 2018

injured at work? what do you do now?

Were you injured at work and fighting to get the workers compensation that you have paid into each year? Sometimes, getting those payments can be very difficult. What do you do when an employer fights the claim? Do you need a lawyer to help you through the process? How will you pay for a lawyer if you cannot even pay your electric bill? You are probably as lost as I was when I went through the process. Fortunately, you can learn from my experience with the system and find the answers to many of the questions that you have about filing a workers comp claim and fighting the system when it is denied.