Real estate transactions happen every day. Perhaps you’ve noticed one of your neighbors listing their house for sale, or maybe you have your eyes on moving into a bigger home. Buying and selling property seems like a fairly straightforward process, especially when you consider all the professionals (such as a real estate agent, broker, or lender) who help complete the process.
At first thought it may not seem like there’s a reason to hire a real estate attorney. But Home Guides did some research and found that there are actually several benefits to hiring a real estate attorney before you buy or sell property.
Buyer's attorney vs. seller's attorney
There are many legal aspects that affect buying and selling property. Both the buyer and the seller want to get the best deal that they can. At the same time, they both want to be protected throughout the process.
A buyer’s attorney will typically handle the following:
- Check the sales contract to protect the buyer
- Check the title or chain of ownership
- Check for problems, liabilities, and/or liens
- Verify all documents for the buying process
A seller’s attorney will typically handle the following:
- Check the sale contract to protect the seller
- Arrange for final payoffs on the existing loan
- Prepare documents to complete the selling process
Especially in transactions where both the buyer and the seller have hired an attorney, all parties involved can be much more confident that they’re being protected throughout the process.