When you enter the home buying market for the first time, it’s easy to become overwhelmed with everything the process ahead of you entails. From choosing a real estate agent to choosing the actual home, you have many decisions to make in the days ahead. Many first-time home buyers don’t know that they can and should work with a real estate attorney for this process. Here are some reasons why you should hire a real estate lawyer to help with your first home process.
- Your State Requires It
Not all states do, but many require a lawyer’s input when buying a home. The lawyer will prepare the purchase documents, perform a search on the title and work on the closing documents. If your state requires one, hire one!
- Contracts Are Legally Binding
Your contract for the home is a legally binding document. Yet it can be challenging to create a contract that is in line with all state law and addresses potential future issues. A real estate attorney is well-versed in helping clients craft or review contracts to ensure that they are signing something that contains the terms they negotiated.
- Title Searches Are Critical
Before buying a home, you will need to have a title search performed. In many states this is built into the closing procedures and is handled by the closing company, but an attorney can also handle this task. Since real estate attorneys have a good relationship with the title search companies, they may be able to do this job for slightly less expense than doing it independently or through the closing agency. If the title has liens on it, the attorney will be able to advise the homebuyer about what steps to take to clear the title so the home can legally be sold.
- Closings Are Confusing
The closing could arguably be the most important event when purchasing a home. The deed and closing papers are legally binding and must be carefully prepared, and the title must be free and clear. Buyers also will sign legally binding paperwork for the mortgage. Having a lawyer with you at closing will ensure you understand the documents you are signing and are not agreeing to terms that don’t work in your favor.
As you can see, having a real estate law firm on your side is helpful throughout your home buying process. Partner with one today, and improve your chances of success!