Why You Need A Lawyer When You Buy Or Sell A House
Whether you are buying or selling a house in Indiana, it’s always a smart move to have an attorney with local real estate law expertise to advise and guide you in what will undoubtedly be one of the biggest transactions of your life.
Specifically, a qualified real estate attorney can help you with:
- Negotiating, creating, or reviewing the sales contract;
- Overseeing the home buying process to check for compliance with all terms and conditions of the contract;
- Reviewing the title insurance commitment (to determine whether there are any liens or encumbrances on the property);
- Explaining the effect of any easements, covenants, or other use restrictions;
- Negotiating or representing you in a contract dispute with the seller;
- Preparation of the purchase agreement, deed, and other legal documents if there is no real estate broker involved in the transaction; and
- Representing you at the closing.
Because they involve both valuable assets and human beings, real estate transactions can be unpredictable. Claims or promises made during negotiations must be included in the contract. Relying solely on “form contracts” can lead to unintended and/or costly consequences for a buyer or a seller that could be avoided by having a real estate attorney involved in the process who has a trained eye for these issues.
In fact, there are several common issues when buying or selling a home that will call for the help of a real estate lawyer, including:
- If a buyer or seller tries to back out of the deal on short notice;
- If something wrong happens after the sales closes that was not noted on the disclosure statement;
- If something questionable appears in a title search;
- If you have trust issues with the other party;
- If you are buying or selling real estate that is jointly owned with another person;
- If you are buying a home that is in foreclosure, bankruptcy, or probate;
- If the home you are buying is governed by an association;
- If the sale or purchase is complicated (for example, if you are a seller that is providing the financing).
The buying and selling of real estate involves a number of legal documents, which real estate agents, title companies, and others are not fully equipped to handle. A real estate attorney will serve as your advocate in the process, protecting your best interests and helping you avoid costly litigation in what can be a very complicated and complex process.
When you need help, call The Nice Law Firm. We are here to serve you.