Sunday, February 13, 2011 -
No state requires a homebuyer to hire a real estate attorney. Anyway, you may want to invest in the service of an attorney when purchasing your new home. It is especially recommended if you are a first-time buyer with little experience of real estate transactions.
The attorney can look over the offer, which is a legally binding contract to ensure you have included everything when you made an offer. The attorney will generally attend the closing and looks over all the contracts and paper work that you will sign at closing to assure everything is above board and the closing runs smoothly .The attorney can explain the details of the agreements and make sure you are okay with them. The attorney will help ensure you do not get caught up in a bad deal and, if you do, will help you work through the situation. The attorney acts as a buffer much like the agent thus removing the emotion from the deal. The attorney may also be able to get you a reduced fee for the title company, which generally works on volume. Be sure to explain clearly what you want the attorney to help with. Remember that there are many different types of attorneys and the one you want should be an expert in real estate.