When you were little, you surely have imagined how your house would look like and what furniture will it have. It’s true for most of us that buying a house and owning it are the most important things that a person can do with his or her money. We are not talking about a small sum of money, like the equivalent of a soda can. What we are talking about is the price of a property and the property itself that is bought with that money.
Having a lawyer assist you is the most important thing that you have to do. This is because buying or selling a house falls under the laws of real property. It’s not exactly easy to make this kind of transaction, because this law is like nothing else in this matter. It has its own uniqueness and does present some interesting issues that cannot be found in any other law.
It’s a fact that most people buy their houses from intermediaries, also known as real estate agents. The procedure is that the person who wants to sell signs a brokerage contract with the agent. When the possible buyer is found, there are some negotiations conducted through the agent. It doesn’t take long to reach an agreement, and once this has happened, the seller and the buyer will sign a contract for that sale.
Once this is done, the person who wants to buy will have to get a financing commitment. This can happen also before the contract is signed to make sure the buyer can afford a certain sum of money to buy a house. The property title is checked to make sure there are no problems and soon after, the property will be transferred from one person to another. The buyer gets the property and the seller gets the money.
In theory, everybody should be happy once the transaction is finished, but the truth is that without a lawyer, both of these persons involved in buying and selling can suffer terrible consequences.
How Can a Lawyer Help You?
Real estate lawyers are those who are specialized in the real estate law. This means that they know everything there is to know about this law. During a sale, there can appear some common issues, and a lawyer will help you avoid them.
Sometimes, the broker uses standard forms that are filled by the seller. As often is the case, that form does not cover everything that can be met in practice while selling a house. For example, if it is not said otherwise, the seller can pay a commission to the broker, even if the sale did not occur. Some brokers apply other technique – they ask for more than one commission, and if the seller doesn’t pay attention to what he signs, then he will have to pay. A lawyer can help you out with this in no time, as the real estate lawyers are specially trained to identify and wrongness in this kind of contract.
Why Do You Need This?
Some people are not sure why they need a lawyer when they buy a house. Apart from what was stated before, there are also some things that you have to consider when buying a house.
You surely don’t want a house in a poor condition, as the price is already exorbitant, you surely don’t need to pay for other things too, like important repairs or getting some special licenses.
When you buy the house, make sure you ask the seller to see all the papers of the house and show them to a lawyer. He or she will be able to tell you if the house has suffered modifications and if everything was done lawfully. There are some others things to be considered. For example, a lawyer will be able to tell you what you need to do if you ask for a house inspection and the property is found in a very bad condition. There can also be problems if the property has hazardous waste on it, and a lawyer will be able to offer you the best legal advice.
For all this and a lot more, come to KMF Law and we’ll help you out!