Five Reasons Why You Need a Real Estate Lawyer When Buying a House

Five Reasons Why You Need a Real Estate Lawyer When Buying a House

December 29, 2023 Off By Glespynorson

Buying a house is likely the largest and most complex financial transaction you’ll ever make. While real estate agents can help guide you through the process, a real estate lawyer protects your interests in this high-stakes deal. Don’t skip hiring one — here are five compelling reasons you need a real estate attorney when purchasing a property.

1. Review Purchase Documents Thoroughly

Real estate transactions require signing a towering stack of complicated legal papers. An attorney helps explain these documents in plain language so you understand the terms and obligations. They’ll scrutinize the fine print to catch errors, misleading clauses, or seller trickery. Some examples of purchase documents they review:

  • Purchase agreement: Outlines price, closing date, possessions included, contingency clauses.
  • Disclosure forms: Reveals property condition, required repairs, and zoning restrictions. 
  • Title documents: Checks for liens, easements, and deed issues.
  • Closing documents: Reviews final figures, ownership transfer, and tax issues.

2. Negotiate Better Terms and Conditions 

Skillful real estate attorneys are fierce advocates in negotiating favorable terms and protections in the purchase offer and contract. They seek to:

  • Lower the purchase price
  • Secure contingencies and inspections benefiting the buyer
  • Create safety nets if problems arise later 
  • Insert customized clauses matching the client’s needs

Their legal expertise lends you leverage and credibility to push for the best possible deal, potentially saving thousands.

Real Estate - Law Office of Howard B. Tat

3. Resolve Disputes Quickly

Despite best intentions, disputes can erupt during the buying process regarding inspections, repairs, credits, non-delivery of property, ownership challenges, and more. Your attorney builds legal solutions to resolve conflicts efficiently outside court, reducing delays. Should litigation become necessary, real estate lawyers handle the headache while you focus on your upcoming move.

4. Coordinate closings Flawlessly

On closing day, a hundred things can go wrong if all participants don’t deliver the required funds and signatures on schedule. Real estate attorneys quarterback the entire settlement process, continually confirming status with the lender, buyer, sellers, agents, title company, inspector, insurance company, and local government. They ensure everyone stays aligned to close the deal. 

5. Answer Your Legal Questions

First-time home buyers especially have dozens of queries about property laws in their state. Can I back out of offers? What disclosures must sellers provide? Who pays which fees? How does property tax work? Competent real estate lawyers clarify the legal rules around home buying and ownership, providing peace of mind. Their job includes translating complex statutes into understandable advice.

Don’t Do It Alone — Consult An Attorney

As this article demonstrates, real estate lawyers do far more than review documents. They aggressively represent your interests in negotiations, resolve disputes, coordinate professionals, and educate you on property laws. Their legal skills can optimize the terms of the deal and ownership. Despite the expense, a quality real estate attorney often saves buyers money and headaches in the long run. Don’t go it alone — protect your investment by hiring competent legal help.