There are a good number of people out there who are buying a home for the first time. According to the National Association of Realtors, 26% of them fall in that category. It can be a stressful time. While a realtor can guide you in finding the place you want to buy, realtor lawyers can also help you. Here’s how this process works.
They Can Make Sure All The Paperwork Is Properly Drawn Up
When you’re buying a home for the first time, the sheer amount of paperwork involved can be bewildering. Realtor lawyers will be familiar with everything that’s involved and will make sure that everything that needs to be signed and anything that needs to be notarized is properly handled. Just having them around for this is reason enough to bring them aboard.
They Can Do Title Searches
Did you know that the person selling the property might not have the legal right to do that? They may have liens or judgments on the property. Your lawyer will do what’s known as a title search and ensure that everything is clear before giving you the go-ahead to buy the place. If they don’t do that, then you could wind up with a nasty surprise at the time of closing, or even before then.
If the lawyer does find that something is pending, then they can help you decide what to do. For example, you could talk to the seller about reducing the price due to the inconvenience of waiting. Once that is resolved, the lawyer can then gather proof of that. You’ll be able to furnish that if you want to take out a mortgage.
They Can Go Over Contracts
Did you know that you have a limited amount of time to go over a real estate contract before it becomes legally binding? In a lot of states, it’s three days. If you hire a lawyer, they can go over that contract and iron out any glitches while also adding some contingencies. Here’s another situation where they pay for themselves.
They Can Make Trust Transfers Easier
It’s one thing when you’re buying from a person. If the seller is a corporation or a trust, then things get more complicated. Each state has its own laws about these sorts of things, and your lawyer will know what they are and ensure that everything is done in a way that will comply with them.
They Can Make Sure That Deeds Are Recorded Properly
Here’s another way that your lawyers can make themselves invaluable. When you buy a place, a real estate deed needs to be recorded.. This has to happen at thecounty levels. Your lawyer can make sure that this is done quickly. They can also work within state regulations to get everything done.
Having them do this for you is important. They can help you avoid having to pay taxes on certain things or incurring any fines if the proper permits aren’t filed. That’s a significant amount of money going back into your pocket. You’ll be glad that you hired them.
The Importance of Finding a Compatible Legal Professional
When you’re buying a home, you want to make sure that you comply with everything in the state that your property is in. A team of experienced attorneys will understand how important buying a home is for you and your family. Their goal will be to make everything go smoothly so that you’ll be able to look back on it fondly. Don’t hesitate to ask them questions throughout this process.
There are a lot of costs involved when buying a home. You might be tempted to try to save some money and not hire a lawyer. As you can see from the above reasons, that could be a very costly mistake. The last thing you want is to see your dream of buying a home go up in smoke because you missed something. Hiring one can instead help you turn that dream of owning a place into a reality. That’s great value right there.
Are you looking for experienced realtor lawyers in your area to help you with buying your first home? We have a team of lawyers that can handle everything from home closings to landlords. Contact The Law Office of Lawrence M. Centanni today to learn more.
