Posted on March 26, 2014

What a Real Estate Lawyer Does and Why You Need One

Real estate agents, mortgage brokers, banks, appraisers, property inspectors, and more: we know there are a number of professionals that must be engaged when buying a home. However, one that is often an afterthought is a real estate lawyer - perhaps in part because a lot of homebuyers don't exactly know what a real estate lawyer does and why they are necessary.

For most people, buying a home will be the single biggest purchase they will ever make. Therefore, we highly recommend not only involving a reputable real estate lawyer, but also involving them in the entire closing process - not just if something goes awry.  

What a Real Estate Lawyer Does

In short, a real estate lawyer is responsible for ensuring that you don't sign a contract that you shouldn't sign. Since a real estate contract is legally binding, it is paramount to make certain that it's fair and protects you from possible unforeseen future costs. She or he should also be the one to explain to you in layman's terms what exactly you're signing on the off-chance that you have to break the contract. Furthermore, your real estate lawyer will ensure that the home is properly registered in your name and all the "paperwork" is filed accordingly.

Why You Need One

If something goes wrong with the home you buy, such as purchasing a defective product or being left with the past homeowner's unpaid property taxes, the work of your real estate lawyer is there to protect you. She or he will be there to ensure that buying your dream home doesn't turn into a nightmare.

Why You Should Find One Early

Some homebuyers are tempted to allow their real estate agent and bank do all the heavy lifting in the contractual work, and for the most part these professionals have enough experience and knowledge to offer great advice. However, if something goes awry with the purchase and you end up having to contact a real estate lawyer to offer you protection from your contract and the sellers, the costs will likely be much higher than if you engaged a real estate lawyer from the get-go. 

At the end of the day, buying a home is no easy decision or simple process and it's definitely not something that should be taken lightly. Surround yourself with professionals that you trust and have gone through the ins and outs of home buying time and time again: you can't get too much good advice! A real estate lawyer is definitely part of that.