3 Reasons to Hire a Real Estate Attorney as a Home Buyer or Seller
For most people, a home is the investment of a lifetime. As with other big purchases, it can be tempting to cut corners and save money. However, hiring a south jersey real estate lawyer can be a worthwhile expense. An attorney can allay a buyer or seller’s concerns, and he or she can provide valuable assistance at every stage of the home buying process. Below are several good reasons to hire an attorney when buying or selling real estate.
They Read Everything
If someone has bought a home before, they know how much paperwork is involved. It can be tempting to give up and ignore a lender’s emails, but that can be a costly strategy. An attorney will read everything and notify the client about unexpected fees, looming deadlines and missing punch list items. Even if the transaction is going according to plan, an attorney can refer to his or her documents when concerns arise.
Attorneys Can Help Those Who are Buying and Selling Concurrently
Some home purchases are done on a contingency basis. Negotiating a P&S (purchase and sale) agreement, showing a property and haggling on two fronts can become tiresome, which may lead to stress and poor decisions. A real estate lawyer can fight for a client’s rights on all sides and they can appear on the client’s behalf during a sale closing.
Drafting and Reviewing Amendments
Amendments are quite common during the home purchase process. In contingency purchases, a home sale may be delayed, which can cause delays in closing on the other property. A purchase price is negotiable, especially if the appraisal discovers hidden damage to be addressed before closing. An attorney can write an amendment or review documents from the other side’s lawyers.
It’s not possible to have too many advocates during the process of buying or selling a home. Unless a family is downsizing, the home is likely to be the biggest purchase of a lifetime. Therefore, it pays to have others on one’s team. A real estate lawyer or bankruptcy lawyer cherry hill can answer a buyer or seller’s legal questions with confidence, even if the purchase goes as planned.