Why You Need a Real Estate Attorney in Any Real Estate Transaction

Published by julia | Filed under Buyer / Seller Tips, Real Estate

Even if you have a real estate agent, you still need a real estate attorney. This may seem like overkill, but it really isn’t. Some states, such as New York, even require you to use a real estate attorney during the closing process. However, even if you live in a state without this requirement, the reasons for hiring an attorney are sound. A real estate attorney can interpret the legal ramifications of any mortgage or closing documents you may receive and let you know how these documents may affect you. If the attorney sees anything that is not in your best interests, he or she will tell you, giving you a chance to act accordingly. Remember, your attorney is there to protect YOUR interests in any real estate deal. The interests of others involved in the process are not his concern.

While most real estate closings go off without a hitch, there are always a few here and there that have important last-minute problems to be resolved. You never know if a problem is going to come up until it’s right there, in front of your face. You definitely do NOT want to be without an attorney at your side if this were to happen at your closing. An attorney can take care of unforeseen problems immediately, which usually allow the closing to go on as scheduled. If you run into problems without an attorney present, the closing may not happen at all!

Your attorney is essentially your insurance policy at the closing. If a problem comes up, then the fee you paid him will be worth it. If no problem arises, then the fee you paid will simply be like any other insurance premium you pay for a policy that rarely, if ever, gets used. You may not have t o ever use the insurance, but it’s in your interest to have it there in place, just in case something goes wrong. If that happens and you don’t have an attorney, you’ll wish you did. Having a real estate attorney could mean the difference between closing on the house of your dreams and losing it entirely. Which would you prefer?