When buying a home, you may need a real estate attorney. This may be required due to state requirements or if there may be a problem with your purchase.
A real estate attorney’s job is to ensure that real estate is legally transferred from the seller to the buyer. They handle legal documents, make sure they are correct, and protect your interests.
We’ll look at the role of a lawyer in a real estate purchase and why you might need one. This could be one of the best investments he makes when buying real estate.
What Do Real Estate Lawyers Actually Do?
Real estate attorneys specialize in “real estate” transactions. In most cases, property and property are considered the same thing. land and buildings.
When you buy a house, it doesn’t usually end in court, but real estate lawyers can be very helpful nonetheless. . Lawyers also review contracts and documents from lenders.
When the deadline comes, I sometimes attend to make sure things run smoothly. They can do this in person or via conference call.
In addition to these duties, real estate attorneys may also conduct title searches and arrange title insurance. These title checks should reveal any liens or other outstanding claims on the property.
If you need documentation for the remittance, we can provide that too. Also, if something goes wrong during a transaction, they are on hand to deal with it.
For real estate, do I need to hire a lawyer?
A large part of this decision will depend on your location and the laws related to the real estate transaction.
Some states require you to retain the services of an attorney during the purchase. These include:
- New York
- north carolina
- south carolina
- west virginia
In some states, the law requires a real estate attorney to provide a title opinion. This opinion indicates that they believe that nothing can prevent a successful transaction. These states include:
- north dakota
- south dakota
Even if you’re in a state where this isn’t required, there are good reasons to hire an attorney. If the purchase is more complicated, such as when part of your neighbor’s house crosses your boundary, a real estate attorney can ensure your interests are protected.
A good real estate attorney will make sure homebuyers request an extension for contingencies and ensure that their deposit is not jeopardized.
As in some states, if an attorney is required to deal with the closing, the attorney will not act on your behalf. They are considered neutral to ensure that transactions are completed correctly.
If you need, or determine that you need, an attorney to handle your real estate transaction, the attorney’s fees are usually added to your closing costs.
Realtors may recommend a trusted attorney, but it’s never a bad idea to check online feedback as well. You may also know someone who recently used a real estate attorney.
A friend or family member who has recently been involved in a real estate transaction is also a good source of information.
However, before hiring an attorney, check your credentials with your state bar association to avoid problems. Especially with something as important as buying a home, having a legal representative in your corner is essential.
Bill Gussett is a nationally recognized real estate leader that has helped buy and sell properties in MetroWest, Massachusetts for the past 35 years.Bill is the owner and founder of Largest real estate exposureFor the past decade he has been one of New England’s top RE/MAX REALTORS®.