18 Nov 6 Reasons to Hire a Real Estate Attorney as Soon as You Decide to Sell Your Home
When selling your home, it is essential to engage the services of a real estate attorney as early in the process as possible. Selling a home is complicated, but working with an attorney who understands these challenges will ensure the transaction moves forward smoothly and efficiently. Here are 6 reasons to hire a real estate attorney as soon as you decide to sell your home:
1. Your Attorney Explains the Process from Contract to Closing
Congrats! You’ve hired a real estate attorney who will now get the ball rolling for you on the sale of your home. Throughout the entire process, your attorney will act as a key member of your real estate team, collaborating with your real estate agent and buyer’s mortgage lender to move toward a successful closing.
2. Examines the Title Commitment to Assure All Title Defects are Cleared
Ask your attorney even before you list the property for sale to examine your title and make sure you do not have any unexpected title liens or defects. It is much easier and less stressful to resolve any title issues early in the process.
3. Provides Net Bottom Line Estimate
Why wait until closing to see what you will clear when you sell? Your attorney can help you with an accurate estimate of the amount that you may expect to net from the sale of your home.
4. Reviews and Advises You on the Terms of Your Contract During the Attorney Review Period
The devil is in the details when it comes to the terms of your contract. Your attorney will help you control your risk. That’s why the attorney review period is critical. The review allows you to modify the contract to meet your specific needs. Your attorney will review the contract and recommend modifications that would be in your best interest. The attorney review period typically lasts five business days after signing the contract. Modifications may include revising the real estate tax provisions in the contract or making the contract contingent on certain terms.
5. Negotiates and Resolves Any Issues that May Arise after the Home Inspection
The ball continues to roll but can slow down or come to a full stop once the home inspection report is complete. You can bet that an inspector will find problems, and after reviewing the report, the buyer may request repairs or repair credits. Enter your real estate attorney, who will work with your real estate agent to determine the best course of action, which may include making the repairs, proving the items to be adequate, or providing a repair credit to the buyer.
6. Reviews And Explains all Documents and Resolves any Unexpected Last Minute Situations
Surprises are great for birthday parties, but not for closings. No one wants surprises during a closing. Your attorney will eliminate them by reviewing all closing documents before the closing to make sure everything is in order. Here again, your real estate attorney will step in and review the documents with you and explain them before you sign anything.
Selling a home is one of the biggest and most important financial transactions of your life. It can be exciting, stressful, and overwhelming. That’s why it is critical to work with an experienced and knowledgeable real estate attorney who looks out for you. They will educate you and ensure your comfort level throughout the process.