While it is not mandatory to have a real estate or property attorney during a real estate transaction, it may be beneficial to have one. Purchasing a home is no easy feat – between the stacks of paperwork and making agreements, and it is important to make sure all legal bases are covered during the process. A real estate attorney can help ease the home buying process and navigate the paperwork involved. The attorney will be responsible for reading all the documents and looking after their client’s best interests. The property lawyer will have a record of all agreed upon conditions, and if anything changes without their client’s knowledge, the attorney can find the discrepancy and correct it. If avoiding unnecessary stress is important, an attorney can help quell any worry. The attorney can negotiate for their client and answer any questions that arise to ensure that the home buying process runs smoothly.
When a seller accepts a buyer’s offer, that acceptance forms a binding contract; if the seller were to change their mind, the buyer can sue (through an attorney) for reimbursement of the cost of the breach of contract. Often, the attorney can help their client regain the money spent on the mortgage application, inspection fees, and other such costs accrued, including the attorney’s fees. In some unique situations, the attorney may convince the court to order the seller to go through with the sale. When purchasing real estate, it is often advantageous to have a real estate attorney in your corner.
Selling a Home
Selling a home can be a daunting process with large amounts of legal documents, but it is not always clear to a seller what exactly they are agreeing to. A real estate lawyer can be a pivotal aid when selling a home without a real estate agent. The lawyer will make sure that all the documents protect the seller and comply with real estate regulation. The attorney can work with a title company, or perform a title search to ensure clear title to the real estate in question. The attorney can also help the seller if the buyer makes a breach of contract. The attorney can sue for any money their client lost in reliance on the buyer fulfilling her portion of the deal. The attorney’s primary focus is to make sure their client has a clean transfer of the property and is safe from any future legal actions regarding the sale.
If you are thinking about buying or selling property, consider hiring a real estate attorney first. The legal professionals at Matthew L. Collins Law Office practice real estate law, and know every step in a property transaction. The Law Office of Matthew L. Collins can answer any questions and address any concerns you may have. The Law Office of Matthew L. Collins is located in Lawrenceburg, Kentucky but serves the nearby central Kentucky counties of, Woodford, Mercer, Spencer, and Fayette as well.