Real estate laws vary from state to state, and though some states don’t require a lawyer to assist during the home-buying process, hiring one can be beneficial. Since real estate transactions are complex and involve lots of paperwork, red tape, and negotiating, hiring the right lawyer can provide fewer uncertainties and a smoother, more informed purchase. Here are a few ways a real estate lawyer can help when buying a home.
The exact, final terms of any real estate deal must be recorded in an official contract for them to be legally binding. Real estate lawyers who are specially trained and experienced will be able to handle official documents more effectively and quickly than most homebuyers. They can also verify that the contract is adherent to all applicable laws, negotiate on behalf of the buyer, and identify issues within the contract that may affect the property in the future.
Performing a Title Search
One very important home-buying step is performing a title search, which assesses the laws governing the property. A title search also ensures that the property is being sold legally and free of any encumbrances (claim against the property), such as liens or judgments. A real estate lawyer can perform a title search quickly and identify whether the homebuyer will have to pay a lien or outstanding judgment before the sale can be completed. In addition, in a case where the homebuyer will have to pay for some sort of encumbrance, a lawyer can often negotiate with the seller for an overall price reduction on the property.
Real estate deeds and other paperwork must be officially filed at both the local and state level whenever a transaction takes place. Real estate lawyers are well versed in this process, so they can make sure that everything is filed quickly and correctly. They can also identify any building or zoning restrictions that may apply to the property, helping buyers navigate their local rules and regulations so that they can move into their new home as soon as possible.
At the Law Office of Arthur P. Skarmeas, LLC, our attorneys have years of experience in real estate law, estate planning, and other practice areas. For more information about how a real estate lawyer can help you throughout the home-buying process, contact us online or give us a call at (978) 887-0093.