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Buying a house is usually the biggest and most important purchase a person or couple can make. Unless you buy a business, no other purchase comes close to the money you will spend on a house. Since it is such an important purchase, it makes sense to have all of your bases covered. All the details need to be checked and confirmed before the handover of the house happens.
This is why it’s important to have a lawyer on your side. Sometimes things don’t go smoothly and you’ll need somebody looking out for your interests. In this article, we will go over several of the reasons you should hire a lawyer, especially if it's a flat fee real estate lawyer.
Not many people understand legalese although they think that they do. Contracts have confusing language and if you don’t understand it well then you could be signing something that is actually detrimental to you.
A contract should be written in a way that you are protected in case of certain issues with the purchase, the financing, or the condition of the house itself. A real estate lawyer will make sure that all the language in the contract is understood by you. They will give you an idea of some of the problems the language might have in it. If they don’t like how things are worded then they could have it changed or let you know that you shouldn’t sign it.
Many contracts are intentionally vague so it will be your lawyer’s responsibility to clarify anything that could be a loophole later on.
The cost of the lawyer may end up paying for itself at some point in the negotiations. The entire process of buying a house is full of pitfalls. There are a lot of things that can possibly go wrong and these problems will cost you a lot of money. By having a lawyer on your side, there is less likelihood of any of those problems coming up.
One reason is that a lawyer will see a lot of the potential problems before they come up because they have experience. You would be taken by surprise because you don’t know what to expect.
They understand local and state laws and will make sure that everything is perfect to the letter in the eyes of the law that you may not be aware of.
There are a few states that actually require a lawyer there during the closing process. Even if you don’t live in a state that requires it you would do well to have a lawyer draw up all the documents necessary to pass the papers. They will also be there to ensure that all the relevant paperwork such as the title insurance and deed are correct and ready to be signed.
It’s also nice to have some support through the closing process as there are so many moving parts and can be quite confusing.
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