Not everyone needs the help of a real estate lawyer, but many people could benefit from the advice of one at some point. If you are not sure what role this type of attorney often plays in this field, you should find out so that you are not missing out on help that you may need. Whether you are buying or selling, you should consider getting the help of a qualified attorney.
If you are taking part in a straightforward transaction, such as purchasing a new home, you may not feel the need to get a real estate lawyer. However, it is usually beneficial to do so, as he or she can help you go through the paperwork. You can expect to feel like you are signing your life away when you buy a house, as there are so many pages to sign. You typically do not get much time to read them, so most homebuyers neglect to do more than skim the page. Unfortunately, this could result in you agreeing to terms that have suddenly changed, which may alter the payments, repairs that will be done to the home before you move in, or the terms of your ownership. Therefore, having an attorney help you look over the papers before you sign is important.
Another issue is the possibility of you purchasing a house that has liens attached to it. If you unknowingly do this, you run the risk of having to pay off the lien that was not yours to begin with. This clearly adds to the price of the home, and if you do not pay it off, your credit rating could be dragged through the mud, or you may not be able to legally be named the owner of the home. Obviously it would be nice to have someone to catch this mistake before it becomes a major issue for you.
If you are considering a foreclosure or short sale, the terms are usually too complex to figure out safely on your own. There are usually many details that you may not be considering, so before you put an offer on a house that is being sold this way, you should first have a real estate lawyer look over the terms. Homes that are short sold or foreclosed on often have various issues attached to them, such as liens or property damage that you may not know about before buying.
For obvious reasons, a real estate lawyer is essential when you are purchasing a home that has been foreclosed on or short sold. Even if you are buying a brand new house, you may run into problems that can cost you money or your credit rating down the road. For these reasons, contact an attorney specializing in this field before you buy.