When it comes to purchasing a house, you probably think you have everything figured out. Especially when you're closing the deal. Hey, you've come this far, might think that you might as well fly this last stretch solo, as well. You might, however, want to consider an attorney.
There are many states where having an attorney present when you purchase a home is, in fact, mandatory. Real estate attorneys are attorneys that specialize in real estate. They know the ins and outs of the law revolving around purchasing and selling homes. This, and many other reasons, are things to consider before opting out of using a real estate lawyer.
Throughout the course of this article, you'll learn about four situations where you might need a real estate lawyer.
You Do Not Understand the Parlance
The fact of the matter is, lawyers and members of the court use a very specific form of language. Why is this the case? So that there is no ambiguity involved. Every term has a specific meaning and as such, cannot be used in any other way. A lawyer can parse through this language and essentially translate this speak into words you can understand. That way, in case someone is trying to sell you a home and using the very language of legalese to confuse you and perhaps even rip you off, a lawyer can provide you, in no uncertain terms, of what is really being said.
You Need Help with Title Research
Title research is very important when it comes to purchasing your home and a lawyer can easily do the dirty work when it comes to doing research on a home's title. A lawyer can make sure that no liens exist on the home or that no third parties own any sort of "hidden" rights to your property.
For example, there are many cases where utility companies might own the rights to a cable underneath your backyard, which would give them the right to excavate the yard and do what they will with the cable. You would never be able to excavate the yard yourself, which means that you wouldn't be able to install a pool or even a shed on your own property.
Some Lenders Require a Lawyer
This is truly a case where you need a lawyer. During closing, in some states, if you do not choose to have a lawyer be present with you during the closing of the home, this will fall to the title company or lender. However, many lenders will refuse to participate in the closing and, as part of their contract, will require you to have a lawyer present.
In many of these cases, if you do not choose a lawyer, a lender's own lawyer will be chosen for you (but, in most cases, you will default on the loan and the lender will refuse to work with you again). It is highly recommended that you seek out your own attorney in these cases, especially one who focuses on property law or real estate law.
When You Simply Need Help
The fact of the matter is, closing a home can be a difficult task, especially to do on your own. Whenever you are closing a home, this is just another task on what is undoubtedly a series of task sandwiches on your already full plate. A lawyer can ameliorate this situation and help you make sure that you can figure everything out with ease.
When it comes to purchasing, selling, or closing a home, considering bringing a local real estate attorney along for the ride to ensure succes.Share
17 August 2015
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