When buying or selling a home, having an attorney review all documents involved may be crucial to ensuring the best for all parties involved.
As in any legal transaction, buying or selling a home can be a complex process with potential for error and miscommunication. Hiring a lawyer to review all of your documents before you seal the deal can ensure you’re getting what you expected and prevent problems. A real estate attorney has extensive training in this area and will understand aspects of the home buying and selling process that other legal professionals might miss. Before buying or selling a home, consider how a lawyer can help you with the following aspects of the process:
Ensuring that all Documents Address the Specifics of the Transaction
The buyer and seller formalize their agreement with a purchase contract. Realtors sometimes use a standard form for this document, which means it may not address the specifics of your transaction. Further, standardized forms aren’t always easy to customize to a particular situation, which means they might omit important details. If this happens, either the buyer, the seller or both, might not be covered regarding a certain detail simply because it was not included in the contract. A lawyer, however, can review the document to ensure it’s applicable to your deal. He can also draft a document tailored to the needs of both buyer and seller.
Reviewing the Title Search
After both parties sign the purchase contract, there’s typically another step before the deal can go through. This is the title search, which ensures that the person selling the home has the legal right to do so. A lawyer can go over the title search to determine if it was done properly. A title search may also reveal any restrictions affecting the property and all interests in it. Your lawyer can explain these and how they might affect you. For example, there could be restrictions on the property that would prevent you from using it for specific purposes. A lawyer will spot these and bring them to your attention.
Ensuring Everything’s Up to Code
If improvements or additions were made to the property, you’ll need to verify that they were performed in compliance with local codes. If they were not, you could be responsible for rectifying the situation. Your lawyer can review documents such as the deed and lot surveys to make sure that the proper permits were obtained, that everything was inspected and approved and as regards any warrantied work.
If you’re looking for Las Vegas real estate attorneys, consult Marc Simon Law before you close the deal on any property, whether you’re the buyer or the seller. Our knowledgeable staff can review all of the documents involved in the buying and selling process to ensure they address your specific situation and that you’re adequately protected from start to finish.