Individuals enter into real estate transactions in many different ways. According to the National Association of Realtors, in 2021, 87% of buyers purchased their homes through a real estate agent or broker. These professionals guide their clients through the process of completing submitting, reviewing, and signing contracts for the sale and purchase of the property.
The contract for a sale or purchase of a home is a legally binding document. In many cases, it is the biggest contract individuals will sign in their entire lives. Yet, in most states, every day, thousands of buyers and sellers sign real estate contracts without representation from an attorney.
Compared to the cost of a home, and the legal fees involved if there is a problem with the transaction, the investment in having an attorney protect your interests is minimal. Your lawyer, legally, cannot represent any other party in the real estate transaction, meaning they are 100% vested in protecting you.
Do You Need A Lawyer For A Residential Real Estate Transaction?
A qualified real estate attorney can support you at all stages of the transaction, from negotiating processes and terms, to addressing issues in the inspection, inspecting closing documents for unnecessary fees, avoiding legal liability, and more.
Frequently asked questions about real estate law:
- How Can An Attorney Help With A Real Estate Purchase Or Sale?
- States That Require an Attorney at Closing
- How do I find a Real Estate Attorney?
- Choosing Your Real Estate Attorney
- For Sale By Owner Closing, Do I Need a Lawyer?
- Can You Manage a For Sale By Owner Transaction?
- What Can An Attorney Do for a FSBO Transaction?
- Short Sale Vs Foreclosure Vs REO Properties- What’s the Difference?
- What is a Real Estate Short Sale?
- Advantages of a Short Sale
- How Does a Short Sale Work?
- Short Sale Deficiency Waiver
- Consequences of a Short Sale
- I Am Facing a Foreclosure – What do I do?
- Types of Foreclosure
- Options Available to Avoid Foreclosure
- Deed in Lieu of Foreclosure
- What Are The Steps in a Foreclosure?