When going through the process of purchasing a home, many buyers do not think to hire a real estate attorney and this is sometimes a huge mistake. The reason people don't hire a real estate attorney is usually because they don't want to spend extra money on the cost of purchasing a home, however, a real estate attorney can help you save much more than you will be spending on using their services. Here's how:
- Reading Through Contracts: When it comes to signing the contract of purchasing a home, your attorney will be there to address any concerning areas. For example, there may be some areas of the contract that addresses issues that involve how the home cannot be used in the future. For example, the home may have had a remodel that was done without permits, which means that you will have trouble in the future if you want to make any changes to that area of the home. On top of this, this remodeled area could be reported by a neighbor if they know it did not have a permit, which means that you are going to have to spend a great deal of money to fix this area in order for it to meet state regulations. Your attorney will ensure that the current homeowner either resolves this issue before you purchase the home or at least significantly reduce the price.
- Title Searches: Title searches are important because it shows whether or not the current homeowner has a legal right to sell the home. If you purchase a home that has any liens or judgments, you could be responsible for paying those costs. Instead of having to be stuck with this, your attorney will either ask that the current homeowner sell for a lower price or take care of the payments to ensure that you are purchasing the home free from liens or judgments.
- Filings: Filing the deed to your home can take a great deal of time and cost you in many different types of fees. With a real estate attorney helping you, much of this process can be avoided and this includes some fees. This means that the deed to your home will be filed quickly and ensure that you can officially get the trouble of purchasing a home over with so that you can finally enjoy your new home.
By knowing the reasons to hire a real estate attorney (such as Michael Adler), you can better understand why paying for their services may be well worth it in the end.