Buying a new house is exciting, but it can be a headache if you don't pay attention to what is in the sales contract. It is important to make sure a real estate lawyer such as Brandt Law Group is hired to look over the contract before you sign your name, as he or she can make sure there are no hidden clauses. In this article, find out how a lawyer can help when purchasing real estate and how much the service will cost.
How Can a Real Estate Lawyer Help When Buying a House?
Before hiring a real estate lawyer to assist you, take a look at the sales contract and compile a list of any questions that you may have. Get answers to all of those questions, but ask the lawyer to thoroughly examine the contract on his or her own. He or she will look for any legal clauses or terms in the contract that may not be in your best interest. For instance, the lawyer will make sure you will not be held liable for any liens that the home may have.
A real estate lawyer can also assist by being present when you sign the final sales papers. It is good for a lawyer to be present to view the closing documents in case something was added that you don't know about. He or she will make sure the closing costs are in the contract as per the terms you agreed on with the owner.
Another important service the lawyer will provide is a title search. The reason a title search is vital when buying a home is because it will let you know if you are actually purchasing the house from the legal owner. You don't want to end up purchasing a home fraudulently and find out later that you have no rights to it. If you don't purchase the home from the owner, it can lead to a lawsuit and waste of your money.
How Much Does the Services of a Real Estate Lawyer Cost?
If you want the full extent of services a real estate lawyer can offer with a home purchase, you can expect to pay up to $500 per hour. Keep in mind that you can also hire a lawyer for specific services that are usually charged based on a flat rate. Make sure your dream home does not become a nightmare later on by hiring a real estate lawyer to assist you with the sales contract!