For most people, buying a home is one of the biggest purchases you’ll make in your lifetime. Having a good lawyer on your side can make it a smoother and easier process. A lawyer will work with you and your realtor to ensure everything is done as it should be before your move into your new home.
An attorney will orchestrate the bank process, work with the title company, and of course pull all of the parties together and transfer the title. They will also be there when the papers are signed and record the deed after the closing.
If you’re a buyer in a real estate transaction, there are some things you need to be aware of – one of them being a survey. Always check the title to that piece of property. A professional surveyor will make sure that everything on the property is as it should be and as is stated in the title.
If you don’t check everything during the due diligence period, then you could have bigger problems after the closing.
Another thing would be purchasing title insurance. You have Lenders title insurance, which protects your bank, and you have Owners title insurance, which protects you, as the purchaser.
That is one thing we advise buyers to do is purchase Buyers insurance in case there is a fraud or some kind of miscalculation inside the courthouse. The insurance protects you against such things.
Working with a professional real estate agent can save you time, money, and a lot of headaches. They are there to guide you through the entire process from start to finish. You may spend a little money up front, but it could save you a lot of trouble down the road.
As of October 3rd, there are new government regulations that will lengthen the purchasing process. The Consumer Financial Protection Bureau is recommending that the closing process be slowed down so that the consumer can be more protected prior to the actual closing.
To locate a real estate attorney in your area, please consult our Online Legal Directory.