Buying Or Selling A Home: 5 Things Real Estate Lawyers Can Do For Clients
Review and Negotiate the Purchase and Sale Contract. The purchase and sale contract is one of the most important documents that will be signed when buying or selling a home. Lawyers can review this contract, explain the terms, and negotiate the terms of the contract on the buyer’s or seller’s behalf.
Review and explain broker fees. On the surface, real estate agent broker and listing fees can be somewhat confusing. However, lawyers can explain these fees to buyers and sellers so that they completely understand what they are paying for.
Review and explain financing terms. In most home buying cases, a mortgage is needed to make the purchase. Lawyers can help choose the right lender, review pre-approval letters, and help explain financing terms and conditions.
Address pre-closing issues. There are all sorts of issues that can arise prior to closing. Title or permit issues, tax liens, incorrect property descriptions, leaky pipes or termite issues revealed in inspection reports, etc. Lawyers can explain the implications of these issues and help resolve them prior to closing.
Review and explain closing documents. At closing, there are stacks of documents that need to be reviewed and signed. Lawyers will understand these documents and can explain what each document means so that buyer’s and seller’s interests are protected.
When buying or selling a home, the devil is in the details. Real estate lawyers make sure that the details are understood so that the experience is a positively unforgettable one.
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This article is intended to convey generally useful information only and does not constitute legal advice. Any opinions expressed are solely those of the author, not LawChamps.
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