3 Reasons to Use a Real Estate Lawyer When Selling Your Home

In some jurisdictions, it’s a legal requirement for real estate lawyer involvement in any real estate transaction. In other cases, such as when you want to sell a home, there are plenty of reasons to hire a real estate expert even if it isn’t mandatory.

If this is something you need to know more about, we invite you to continue reading. Now, let’s look at the benefits of using a real estate lawyer when you selling a home.

3 Reasons to Use a Real Estate Lawyer When Selling Your Home

3 Reasons to Use a Real Estate Lawyer When Selling Your Home

1. A Real Estate Lawyer Speeds Up the Process

A real estate attorney significantly speeds up the process of selling a home. They review contracts from the mortgage loan to the purchase agreement coming from the seller’s agent. If you’re selling a property with problems, your attorney can ensure that you answer all questions in an honest way while limiting your liability.

You don’t have to rely on the questionable legal advice of your real estate agent, and you can quickly answer questions by contacting your attorney. Then, you avoid issues with the title or financing that slow down the sale. You don’t even have to take a contract home overnight to read it and think about it; you can ask your attorney then and there.

2. Using a Real Estate Lawyer Helps You Avoid Costly Mistakes

A contract include a variety of legal escape clauses. These clauses may let you out of the purchase agreement if you can’t secure financing or don’t sell your prior home in time, though you’ll probably be out your earnest money.

You can include contractual obligations to disclose every issue with the house with an out if serious problems are found. Otherwise, you’re obligated to buy the house and then pay for the foundation problems the homeowners might not have known about.

You can negotiate lump sum payments made to cover the cost of identified repairs. Or you could require the contract to include provisions to either lower the purchase price of the home or transfer money to you to pay for repairs. If you’re selling a home, the attorney can require them to close in a given period of time or the deal is off.

3. Bonus! Allows You to Avoid Future Legal Problems

If you’re selling a home as part of an estate, an attorney will help you meet all legal reporting requirements as you sell the property. The money becomes part of the deceased’s estate. Then, if a family member wants to buy the home, an attorney ensures that they pay a fair price or their reduced price for the family home is properly reflected as a share of the estate.

Also, if you are getting workers compensation due to a serious disability, an attorney can help you review contracts and documentation so that you don’t commit to something you didn’t intend. If your judgement is questionable that day due to pain or pain killers, your attorney won’t let you sign. Nor will they let someone else sign on your behalf unless they have the legal authorization to do so.

Are there liens against the property? This could be because they didn’t pay their general contractor enough money or they are behind on their taxes. An attorney will help you pay these liens and get a clear title. Then you won’t run into problems if you sell the home.

If you have any questions or suggestions, we’d love to hear from you in the comments below. Also below is more information about all things design for your home or business. Enjoy!

Images Courtesy of Canva.

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4 replies
  1. Levi Armstrong
    Levi Armstrong says:

    It’s great that you mentioned working with a real estate attorney would help speed up the buying process since we could avoid title or financing issues. My husband and I are thinking of buying a new home soon since we will be welcoming our fourth child next year. I’ll take now of your advice and start looking for a real estate attorney. Thank you!

    Reply
  2. Adam Golightly
    Adam Golightly says:

    My brother has been thinking about buying a new home in the right area in order to be a lot safer. He would really like to get some help from a professional that can help him stay within his budget, and avoid paying more than he needs to. I’ll be sure to tell him about how he should check that there aren’t any problems with the home, and include contractual obligations if there are.

    Reply
  3. Max Jones
    Max Jones says:

    Thanks for the info about real estate lawyers. My friend is trying to learn more about real estate title searches. I’ll tell him to work with a real estate agent.

    Reply
  4. Kate Hansen
    Kate Hansen says:

    It’s good to know that an attorney can help with speeding up the process of selling a home. My cousin was telling me about how she and her husband want to look into selling their home in a couple of weeks, and they were wondering what professionals they should hire to help. I’ll make sure to pass this information along to them so that they can look into hiring a real estate lawyer.

    Reply

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