Do You Need a Real Estate Attorney When You’re Buying a Home?

Do You Need a Real Estate Attorney When You’re Buying a Home?

Do you need a real estate attorney, When you're buying a home? I would suggest that you, might want to consider hiring a board-certified real estate attorney. Real estate lawyer, who regularly deals with real estate transactions. What is he going to do for you? He's going to represent you because you don't have anyone else representing you.

Do You Need a Real Estate Attorney When You’re Buying a Home?
Do You Need a Real Estate Attorney When You’re Buying a Home?

Represent You

The realtor is usually, a transactional broker and their job is to find a house for you to purchase. There many of them are very knowledgeable. They can give you some direction, as to what you should be doing or they don't represent your interest. A real estate attorney will represent your interest. Will advise you of, what you need to do, not only purchase the house and pay the money and check the title. But, also some of the non-legal matters that need to be done such, as the physical inspections. You need to check to see if the property ever had any sinkholes, whether there are any open permits get termite inspections, home inspections possibly surveys.

Title Insurance Commitment

Why a lot of people like to have a real estate attorney? Is to look over their title, you will receive a title insurance commitment. The title insurance commitment on the front page says they're ensuring the title. The second commitment paid to the committee will say, these are the requirements that are necessary in order to ensure the title. Those are critical to making sure that those are all done at the time of closing. 

But, the most critical thing about your time commitment is the exceptions. These are exceptions that say, what they will not be insuring. It's a document if that you're usually not familiar with and have not seen whereas. I've looked at probably $10,000 the $15,000 of these title insurance commitments. Go through the exception page and require the closing agent to delete the requirements, under the second page of the title insurance commitment.

Assist You in Obtaining the Mortgage

Under the exceptions, there can be outstanding paving assessments one of the other problems. That you may have is checking this. Make sure there are no utility bills, there is a lot of things that can come up to cost you money. If you don't do your due diligence either through, the title insurance commitment. If you don't have a home inspection or the physical attributes of the house. If you have a real estate lawyer you can hinge in the right direction as far, as doing your due diligence as far, as inspections surveys. You need financing directly,  who can assist you in obtaining the mortgage for you.

When Do You Hire a Real Estate Attorney?

When to hire a real estate attorney? You hire them after you're in contract, you hire them when you're looking to actually, buy or sell a house, when do you actually, hire someone the sooner the better and that's not self-interest. Realistically, notice sooner the better, the reason is that, if you have a real estate attorney, retained already, you put in an offer, and that offer gets accepted. That real estate attorney can start working on the contract as soon as possible. 

If you do the flip way and you put an offer in the offer gets accepted. Then you start searching for real estate attorneys. Negotiating with them and doing your due diligence on them. It's going to take some time to hire someone. It can delay the process of getting into contract sellers or buyers. Sometimes get upset about that, don't kill a deal. The sooner the better, when it comes to retaining a real estate attorney that goes double for the mortgage broker.

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