When most people enter into the process of buying a home, many of them mistakenly only thinking about utilizing the services of one professional: a Realtor.
Certainly, real estate agents can provide some useful services in helping you find your potential home, but there are actually a number of legal issues involved in the home-buying process that are better suited to the professional knowledge and experience of a real estate attorney.
Oftentimes people choose to utilize a Realtor simply for cost purposes, since agents are paid on commission from the sale rather than directly by the buyers. However, what most people don’t realize is that usually the fee that gets paid to the buyer’s agent is built into the price of the home, so you are actually having to pay for their services just as you would an attorney. And due to the commission-based nature, the buyers agent has a biased interest in seeing the deal completed, sometimes to the detriment of the buyers.
Additionally, there is a higher degree of probability that legal mistakes will occur without the guidance of a real estate attorney, which can lead to much more significant costs if you are forced to go to court over your home purchase.
It is almost always in your best interests to hire a real estate attorney to assist you in the home buying process. Below we have outlined five specific ways an attorney will be able to help make the process go more smoothly, and ensure that you are actually getting the home of your dreams, rather than stepping into a legal nightmare.
Negotiations
Most attorneys are much better trained for negotiations and much more experienced with negotiations than real estate agents due to their experiences with court cases. Your attorney will be able to help you negotiate with the sellers to ensure you get the best possible deal.
Drafting Contracts
There are a number of contracts that will need to be utilized in the home-buying process. You and the sellers may agree upon certain terms, but if the contract that is drawn up doesn’t properly reflect those terms they may not be enforceable. A skilled attorney will draft appropriate contracts that will protect your interests and make sure that the contracts are legally binding within the context of state laws.
Title Search
The title search is an important aspect of any home purchase that is meant to uncover any encumbrances to the title of the home such as liens. In Florida, the buyer has the right to determine which company conducts the title search on the home they are seeking to purchase, and generally title search companies are owned by attorneys anyway. If you already have an attorney representing your interests in the home purchase, you can choose to have your attorney conduct a thorough title search to make sure there are no unpleasant surprises that arise after the sale goes through.
Addressing Title Issues
If the title search does uncover liens or judgements on the home that will prevent the sale from going through, the attorney may be able to negotiate a better deal for the buyer (if you still want to try to make the transaction happen). They can also suggest ways that the sellers may be able to satisfy an encumbrance on their home that will allow the sale to go through. Real estate attorneys’ knowledge of the legal system makes them best suited to help resolve a title issue.
Addressing Other Legal Issues
Any transaction as big as a home purchase has the potential to create major legal issues, such as if the seller fails to disclose a defect in the home. With such a high risk for legal issues, it can be invaluable to already have an attorney representing your interests who will work to make sure the dispute is resolved favorably.
If you are interested in purchasing a home in Florida and you want to ensure that the transaction goes smoothly and that your interests are protected throughout the process, please contact The Law Office of Ray Garcia today.
Law Office of Ray Garcia, P.A.
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