Buying a home may be the biggest investment you will ever make. While home ownership can be an amazing experience, it also leaves you with lots of responsibility. Real estate agents are very helpful during the home buying process. However, in certain situations, questions may arise that a real estate agent is not qualified to answer. Those questions should be referred to a real estate attorney.
Though a home purchase does not always require an attorney, hiring one may be beneficial. Here are the most important questions that you should refer to a real estate attorney.
“If I purchase this property, can I legally remove the current tenants?”
This is a question your real estate agent is not at liberty to answer. In some instances, a tenant may have much more time to vacate a property than you may think. Once you have put in all the effort it takes to buy a home, it can be deeply upsetting to learn that a tenant you planned to replace still has rights to it. There are very complex laws regarding tenants after a home sale. They can be best explained by a real estate attorney.
“How do I purchase a home that has a lien?”
A lien is a claim on property due to certain legal obligations of the owner. It must either be paid off before the property is sold, or the creditor collects their due as part of the purchase agreement. Purchasing property that has a lien can be a very complicated matter; one that may not even be worth dealing with. You should seek the advice of a real estate attorney before stepping into what could be a messy situation.
“Will you draft a better purchase agreement for me?”
Only an attorney can do this for you, because they are legally authorized to draft complicated real estate contracts. Your real estate attorney can review a contract and change the terms, or draft an entirely new one. Because a real estate attorney is solely hired to protect your interests, you can be assured that your purchase agreement will be favorable or fair towards you.
“Is there anything I should know about buying a home that is part of an estate sale?”
When an estate owns property, the terms of a sell have to be agreed on by all parties with ownership. There can be legal issues involved. If there is a potential problem, a real estate attorney should be hired to iron out all the details and ensure that the estate members selling the property actually have the right to do so (learn more at http://www.dorelawgroup.net/). Believing that a property is yours and then facing legal action from an owner who never agreed to sell can be a stressful and expensive ordeal.
“What rights do I have if there are possible structure issues with the property?”
A real estate agent should be able to recommend an inspector. However, structure related problems you were unaware of could come up once a house has been sold. They can be a huge financial burden, as well a danger to your household. If the seller and real estate agent deliberately fail to mention potentially deal-breaking information, a real estate attorney can make sure you are legally protected.
Hiring a Real Estate Attorney
Many real estate-related tasks and transactions can be handled by you or your real estate agent. Though you may have important questions, such as the ones discussed above, that can only be answered by a real estate attorney. If you believe that your question may involve a legal matter, consult an attorney for the answer. Do not leave your home purchase up to chance.
There’s a lot of question you must ask your attorney before buying a new house. But you mention the most important ones. Good points! You got a tweet from me. This can help first-time home buyers. I hope many home buyers will read this before they buy their prospect house.
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