Importance of Hiring a Real Estate Attorney before Buying a House
Updated: Mar 17
Published by TheLawQ.com
featuring Author and Real Estate Lawyer Renee Marie Smith
One of the most expensive purchases a person makes in life is purchasing a house. Any carelessness or failure to pay attention when buying a house will result in incredible frustration. As a suggestion before any real estate transaction, it is always best to hire an experienced attorney.
In Florida, it is recommended buyers hire a real estate attorney to close the residential house purchase.
Real estate agents and a title company can perform the “function of closing” but can’t advise the buyer or seller on what issues or pitfalls to avoid. However, in certain circumstances, problems, concerns, or questions may expose the parties to threats or higher costs, so it is more convenient and better to get legal advice from a real estate lawyer in Florida.
Benefits of Hiring a Real Estate Attorney
Hiring a real estate attorney before purchasing a house will help you survive several hassles. You would certainly benefit from engaging the support of an excellent real estate attorney; here are some of the advantages of using an expert real estate attorney’s services.
• Real estate transactions for acquiring a residential property include preparing several documents, including a contract for sale, a deed, a closing statement outlining all expenses of the purchase, certificates, and research on the property’s title history. While some of these documents (e.g., the Declaration, Petition for Use or Ownership, etc.) do not require a Florida real estate attorney to draft them, realtors cannot provide legally sound advice. Therefore, hiring a Florida real estate lawyer may offer buyers and sellers (as well as a third-party financial agent) more protection during a transaction.
• The real estate attorney can help you recognize possible problems with the house and negotiate with the seller for the best price. The real estate attorney will check the same chain of title of the land and figure out if the seller is the valid owner. Legal responsibility will occur if the seller is still a minor and owns only a portion of the land.
• A real estate attorney will help prevent many other possible legal problems, including disputes over border territories, taxation questions, and more. The legal advice of the real estate lawyer will help avoid conflicts with the property and reduce the possibility of legal liability.
• A legal representative can also effectively negotiate on your behalf with the seller.
• The attorney can also hold your deposit until the homeowner has closed on the house.
Role of a Real Estate Agent
The attorneys and the agents have two separate roles that, to a certain extent, run parallel to each other. A real estate agent provides market information, so you are getting value for your dollar. Only an agent can determine that based on the market values. Lawyers don’t provide local real estate market advice.
Also, sellers may remove items out of the house, i.e. appliances, light fixtures, and blinds, that the buyer believes were part of the purchase contract. It’s beneficial to have a real estate agent schedule a pre-closing walk through to confirm the home’s condition. Lawyers typically don’t handle on-site events.
Right Time to Hire a Lawyer
Hire your real estate agent when you are looking to sell or buy a house. Start working with a lawyer before you sign the purchase or sale agreement. This way, you know your rights before the contract and have the security of legal representation each step of the way to closing.