Buying a home is one of the biggest purchases most people ever make. It is a process that requires commitment, consideration and care. One thing some potential home buyers in New York and New Jersey may not realize is that you must hire a real estate attorney for the transaction. It’s the law here, although this is not true nationwide.
What does the attorney do for you?
It is the real estate attorney’s job to make sure the transaction proceeds smoothly and the deal remains fair to all parties. After the price and terms are set and the contract has all the necessary signatures, the attorney steps in to do their part.
The attorney reviews the contract, making sure it is legal and, hopefully, that you understand it. Then, once the home and title inspection take place, the attorney will amend the contract to account for any adjustments or repairs. They will also attend the closing with you and your real estate agent, making themselves available to you should any last-minute problems crop up.
It’s the law, which is reason enough to hire an attorney. But there are other benefits as well. Some scenarios in which an attorney may prove extra helpful include:
- Buying from out-of-town
- Buying a bank-owned property
- Buying a property with potential issues
An experienced real estate attorney will know how to resolve any complications that arise during your purchasing experience.