Why You Need A Lawyer When Selling Your House
Most people think nothing of hiring a real estate agent when they put their house on the market, but many balk at hiring a real estate lawyer. The reality is though, hiring a specialized lawyer is very sensible as they will provide you with security that an agent can’t.
For starters, they will be able to ensure your rights as a vendor. Also, the can look over all the various bits of paperwork and explain it all to you so you don’t make any mistakes.
They will also be able to identify any problems with the house’s title and will be very useful of there are liens on the property. The thing is that it is so much easier and cheaper to discover these things at the start.
Lawyers are also extremely helpful when it comes to negotiations over the terms of the purchase agreement. If you have a lawyer on your side during these negotiations then it is likely that the agreement will be favorable to you rather than to the vendor, which you definitely want.
Another area where lawyers are useful is during the offering period, where there can be any number of offers and counter offers made. Often there are tax issues during this period, and they will be able to explain and clarify all of these for you.
They will also ensure that everything is OK when it is time to finalize the sale. Then they will ensure that all the security deposits are handled correctly and that you have got the right insurance policy.
It is standard to have your lawyer present when the sale is closed so they can ensure that it all goes to plan. It is useful having them there as this will give you a sense of security that there are no last minute problems.
Obviously, a lawyer will cost more than doing without one, though for many people this expense is just a necessary cost. In the long-term, if something goes wrong, it will cost you far more than lawyer’s fees ever would.