Do I need to have a lawyer if I am buying a property?
Acquiring a new property or buying a first home is a very important step in our lives. Most of us when deciding to go through the process, don’t really know yet the steps to take in order to close a successful deal. It’s no secret that real estate agents earn high commissions, although the commission is usually paid by the seller, the cost may be indirectly passed on to us. And real estate lawyers charge hourly rate for their services. This raises the question: do you need a real estate agent or attorney to help you buy a home?
Every state has it’s own set of real estate laws. For the most part, a real estate agent’s help is not legally required, though agents can help you with tasks that border on legal ones, such as preparing a home purchase contract. In some cases, however only a lawyer is allowed to prepare the home purchase documents, perform a title search, and close the deal.
The smart way to go about is to educate yourself first, learn as much as you can about the home buying process, find out about market value of comparable homes in the area you are looking to purchase in. It will save you a lot of heartache and prevent misunderstandings.
Would legal issues arise that your real estate agent can’t answer, you’ll need an attorney’s help. Although good agents know a lot about the negotiating and contracting part of the process, they can’t make judgements on legal questions. At Castel Law, we are here to help, we are located across from the Middlesex superior court, please feel free to call for a consultation.