Real estate attorneys may be extremely beneficial during the home buying process. Many people don’t realize the necessity of having an attorney present during real estate transactions. In buying a home a lot of money is at stake. This is why you need to be one hundred percent certain that all the documents are in order to avoid later repercussions.
What does a real estate attorney do?
A real estate attorney will order a search of the title, oversee your deposit into the escrow account, review the title report, evaluate the type of insurance coverage, ensure that the stipulations of your purchase contract are followed, coordinate the closing date and may even deposit the lender’s loan proceeds into the escrow account. These are only a few of the things that a qualified attorney will do. All of this is done to protect you and your investment.
Why can’t the real estate agent handle the details?
Many people put too much trust in their real estate agent. Though the agent may be helpful in finding a home, when it comes to closing a deal, they are solely in it for theircommission. Real estate agents may not even understand the legalities of the documents. An attorney’s effort will always be in your best interest. You can trust that a lawyer will let you know if there is something of concern with the documents.
Real estate agents are not attorneys. They know how to fill out the forms, but most aren’t aware of state regulations. Buying a house involves completingsome seriously complicated documents. There are a variety of clauses and binding agreements for which youmay be held accountable. An attorney will understand everything that you are signing.
Why can’t the lender handle the details?
Your lender could handle many of the details, but there are many questions that could arise during the transaction that they might not be able to address. The lender is also giving you the money to purchase the home and is primarily only concerned with fees charged to make the loan and securing repayment of the loan.
When it comes to large amounts of money switching hands, you don’t want to be taken advantage of. A lender might do a satisfactory job handling all the details, but a real estate lawyer will ensure that there aren’t any disastrous consequences.
Many people tend to be hesitant when consulting a real estate attorney, often believing that the lender and real estate agent have given them all the advice that they’ll need. It may seem overwhelming to have multiple professionals give their opinion about buying a house, but it is truly necessary. This isn’t a small transaction.It is likely the biggest purchase of your life. It should be done right. The advice from a trained attorney is invaluable.
When choosing your real estate attorney, consider Simon Law, LLC. Marc Simon has been in practice for over 30 years. He is able to handle all real estate cases, no matter how complex. For more information about this Las Vegas real estate attorney, contact 702.451.7077 or firstname.lastname@example.org.