Why You Need A Real Estate Attorney

Most buyers hire real estate agents when searching for a home, and it is a wise decision that can make the process easier. Real estate agents are highly knowledgeable about various aspects of the home-buying process and can provide useful resources to buyers. However, buying a home also involves signing a contract and numerous other documents that contain legal terms that might not be easy for you to understand. There is no use in buying a home if you do not know what you are getting yourself into, which is why you should also hire a lawyer while searching for a home. A real estate attorney will be helpful during and after the home-buying process to ensure your rights as a buyer are executed to the fullest extent of the law.

Interpret Confusing Legal Terms 

Other than the sales contract, there will be multiple other documents involved with taking ownership of a house. For example, depending on the condition of the property, contracts might be signed for repairs to be made by the seller. No matter what types of documents are presented during the buying process, there will be legal terms included that might be difficult to understand. Before agreeing to sign any of the documents, hiring an attorney to interpret the legal terms is in your best interest. Even with the experience a real estate agent has, there are legal terms that they may not be able to interpret as clearly as an attorney.

Clear the Title to the Property

Buying a home could come with a lot of complications, including the possibility of buying from a fraudulent seller. For example, unless the seller is the owner of the property, you might waste your money on investments that you do not own. An attorney should be hired so they can clear the title to the property and ensure that the seller is the actual owner. Clearing the title will also include making sure there are not any liens that put the home at risk of being legally taken away, such as by a loan company.

Manage Escrow Accounts Upon Closing

Escrow accounts are important because they ensure that the seller or another party is not paid until specific terms have been met. For example, if the seller agrees to replace the flooring in the home after you become the owner, they will be paid out of the escrow account after the job is complete. An attorney can manage any escrow accounts that are in place and step in on your behalf if a problem arises.

Contact a local real estate attorney to learn more.