Real Estate 101: 3 Situations That Require The Help Of An Attorney
Buying or selling a home can be a long and complicated process. While most transactions do go smoothly, there's always a chance that there could be a huge issue. Because of this, it's often worth hiring a real estate attorney. While an attorney isn't needed for every real estate transaction, some deals do require legal help.
So when should you hire a real estate attorney? Whenever these three situations are present:
1. Issues With The Original Agreement
When it comes to buying or selling a home, there are many issues that can delay the process. Because of this, it's usually a good idea to have a real estate attorney. For those buying a home, the seller might decide to increase the price after the original agreement. They might also decide to sell to someone else entirely. As you might expect, this can cause huge problems – especially when it comes to financing. For those selling property, you'll need protection should the buyer decide to back out of the deal.
2. Issues With The Home Itself
Even after the final sale, having a real estate attorney can be very beneficial. After all, the home could have a lot of issues that weren't apparent in the beginning. For example, mold or asbestos could make the home dangerous to live in. Other issues, such as structural problems, could also be very expensive to repair. If the seller was aware of these issues during the sale, you may be able to recover some cash. After all, fixing the home won't be cheap and you shouldn't have to pay for it yourself – especially if the homeowner knew about these issues.
However, even if the seller wasn't aware of these issues it's still a good idea to have a real estate attorney. These professionals can help by advising you about what options you have to get the home fixed quickly – and hopefully, cheaply.
3. There's Been a Divorce
Finally, you should always consult with a real estate attorney if you are planning to sell your home in the midst of a divorce. The laws surrounding divorce vary by state and can be quite complex. So it's always better to err on the side of caution and have an attorney standing by. These professionals can ensure that you actually have the right to sell the home. They can also help you split the money once it's sold, if needed.
As you can see, there are many situations that require the help of an attorney. Whether buying or selling a home, it's usually a good idea to consult with an attorney first. While it might sound unnecessary or expensive, real estate attorneys are often worth the price – as they could save you thousands of dollars.
Contact an attorney like Steve Butcher Sr for more information and assistance.