Attention Buyer and Sellers
Why You Need a Lawyer
The process of buying or selling a property can be stressful and overwhelming. Surely there will be a tornado of paperwork and endless questions. Is escrow necessary? Do I need title insurance? What is a preliminary title report? Real estate law is notoriously complex and cumbersome. If you are planning on buying or selling a property, you should consider hiring a real estate lawyer.
To avoid costly legal battles later on, know what your rights and obligations are ahead of time so that you can make informed decisions when it comes to either buying or selling. An attorney will explain every step of the process, act as your advocate, and prepare you for the important decisions you will need to make. A real estate lawyer will also negotiate contract terms to make sure it’s in your best interest. Real estate law varies depending on the location of the property, so a professional’s knowledge of the specific state, county, and municipal laws are critical for a successful outcome.
We are often faced with the question: Do I really need to hire a lawyer if I have a real estate broker? The answer is yes.
A real estate broker is a licensed professional hired to negotiate the purchase and sale of real estate. Brokers are not attorneys and, therefore, cannot provide legal advice. Real estate agents normally work on commission. Since they don’t get paid unless the deal closes, there is a built in conflict of interest. Brokers are financially interested in seeing the deal go through, which may cause them to disregard the “what ifs” of legal details.
Having an attorney during the buying or selling process is not a legal requirement but without one, you increase the risk of running into legal problems. Sellers can be sued for failing to disclose certain information if a lawyer isn’t present to review the property inspection and make sure the other is party is informed of all relevant facts.
Real estate can be a very difficult complex area of law. Seeking legal advice from the time you decide to sell or buy a property until the actual closing may be in your best interest. At the Law Office of Zapicchi and Liller, our experienced staff offers expertise in commercial and residential real estate legal services. To ensure the protection of your interests, call the Law Office of Zapicchi & Liller today for a free consultation at 609-291-9500