3 Benefits To Hiring A Real Estate Attorney
A real estate attorney is a great resource that you will want to have on your side when it comes to purchasing real estate because of the many ways in which he or she can assist you. A real estate attorney can help you create a purchase agreement, investigate the background of the property before you buy, and streamline the purchasing process.
Create A Purchase Agreement
A purchase agreement is one of the most important pieces of paperwork in the real estate purchasing process, but most purchase agreements are generic documents that can be used for any real estate deal. However, this can be a big problem because it may not address any particular issues that may arise in your particular situation. For example, a generic purchase agreement may not discuss what will happen in the event that an inspection turns up any problems with the property.
In that situation, a real estate attorney can create a purchase agreement that states that you can simply have your deposit refunded and walk away if serious problems are found during an inspection. Alternatively, that section of the agreement may simply require that the current property owner resolves the issues or problems that the inspector discovered before you take ownership of the home. Without those contingencies in place, you could end up losing your deposit if you walk away.
Investigate The Property
Another way that a real estate attorney can help you is by looking into the background of the property that you wish to buy and bringing any potential problems to your attention. For example, the attorney can help you determine if the property is properly zoned for your planned use. If the property is not zoned appropriately, your attorney can check to see how difficult it would be to have the property rezoned.
Your attorney can also bring such things as water and grazing rights or agreements to your attention if you are buying rural land. Having all of this information on hand can make it much easier for you to determine if the property that you are interested in is worth the extra effort before you begin the buying process.
Streamline The Purchasing Process
Finally, an attorney can help you cut down on the time needed to complete the purchasing process. The attorney will accomplish this by reviewing all of the legal paperwork to make sure that it is free of any errors. Even small errors, such as a misspelled name, can cause delays in the purchasing process.
Speak to a real estate attorney today in order to discuss how he or she can help you with your next real estate purchase. An attorney can streamline the purchasing process, create or amend a purchase agreement, and investigate a property before you begin the buying process.