Reasons Why You Need a Real Estate Attorney When Selling a Home
Updated: Jan 21, 2021
Real Estate Transactions are complex and while it might be possible to sell a property without a real estate agent or an attorney, neither is advisable. The goal of every transaction is to make it to closing day. There are challenges, that without representation, you may not be able to surmount.
Negotiations – A vague statement or improperly filed document in a real estate transaction can be a deal breaker. A licensed realtor can provide you with insight on pricing your home and preparing for sale, but they cannot draft verbiage or offer legal advice. An experienced real estate attorney can provide invaluable insight and protect your interest during negotiations.
Questions from the Buyer – Some buyer actions or questions should trigger a red flag. Realtor’s should never answer legal questions or give legal advice. Engaging a real estate attorney allows you to handle questions properly, get the right information back to the buyer, and weed out potentially problematic buyers before they can derail the transaction.
Paperwork and Procedure – The sheer volume of paperwork involved in a real estate sale can be overwhelming and all of that paperwork must be precisely worded and completed. Improperly filed or filled out paperwork could impact your rights and duties and ultimately put closing day at risk. Attorney oversight will help you to avoid all of these problems and make sure that all of your paperwork and every one of your procedures are done properly.
The Closing – Closing day is the convergence of buyers, sellers, lenders, insurers, surveyors and settlement agents all executing flawlessly. Improper paperwork can delay closing for weeks, or months or cause the deal to fail. Attorney review of all transaction documents gives you piece of mind as you head to the closing table. You will know your documents are correct and what to expect on closing day.
Selling your home is complicated and stressful. The cost of having a good real estate lawyer on your side may be much less than you would think and could save you thousands of dollars in preventable errors in the process. Contact the experienced attorneys of the Kendrick Law Group for a complimentary consultation and see how we can ensure you and your real estate transaction are protected.
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