How can hiring residential property lawyers protect you and reduce stress?
Residential property lawyers may not be high on your list of “must have now,” but they do help people during some of the largest and most important purchases in their whole lives. Whether you’re buying or selling a property, finding an experienced real estate lawyer to help you through the process can pay off.
Save yourself from these six issues:
1. Mistrust and legal exposure.
Your attorney is your friend in the room, and they have your back throughout the whole transaction, guarding you from any shady practices. They are quite likely the only one looking out just for you. They aren’t emotionally involved, they won’t benefit from the final sale price, and there shouldn’t be any conflicts of interest for them. Also, having a steady hand to hold will give you confidence if and when any issues arise.
2. Lack of real estate experience.
Real estate lawyers are trained to handle all of the unique situations and quirks associated with property. They can identify problems you would never anticipate, solving them before they can derail the process.
3. Reluctance to amend boilerplate and demand protection.
The brokerage contract contains a lot of standard clauses, and none of them are designed to adequately protect you in the buying or selling process. Similarly, they review the purchase agreement, and ensure inspection contingencies are adequate to protect you from the unexpected. What are some examples? How about asbestos, lead paint, or the presence of hazardous chemicals associated with meth production? Yeah, probably not something you want to skimp on.
4. Scheduling and facilitation.
They’ll work with the other party’s attorney, real estate agents, and the mortgage broker to make sure everything is in place and all the boxes are checked. They’ll help schedule the home inspection, title search, and a variety of other contingencies.
5. Lack of knowledge and true understanding.
All the terminology stuffed into things like the deed, closing agreements, and other documents might hide less than favorable terms for you. If you can’t understand it, you won’t be able to spot it. Trust their experience and years of training to translate it all into terms you can understand.
Did you know even the simplest of mistakes can create big issues with the title and deed process? Something as simple as a transposed letter, misspelled name, or incorrect initial can create big problems. They’ll also review the deed, legal description and other documents for accuracy.
Doesn’t that sound better than going it alone? The solution to all of these problems can be found in the hands of one, capable individual. And the best way to find a real estate lawyer you trust is by asking for referrals from friends and family. If they can’t help, try asking your agent; they’ll have seen a lot of lawyers over the years, and they can hand you a list of the best.
Still have questions about the benefits of hiring residential property lawyers? Click to contact our team at Wilbanks Law Firm, P.C.