How Can a Real Estate Lawyer Help Me If I Am Buying a Home?

 Posted on January 28, 2020 in Real Estate

If you are ready to buy your first home, congratulations! Being a homeowner comes with numerous benefits, but also many serious responsibilities. Your home will probably be the biggest financial investment you ever make, so it is essential to be aware of the obstacles you may experience in the home-buying process. Whether you are a first-time homebuyer or you are currently a homeowner interested in buying a new home, there are a variety of ways that a real estate lawyer can help you.

Limitations of Real Estate Agents

When someone prepares to buy a home, they may assume that the only professional they will need to consult with is a real estate agent or broker. A real estate agent can offer helpful support and advice on a variety of issues, however, his or her guidance alone is not enough to ensure the home-buying process goes as smoothly as it should.

One major limitation that real estate agents have is that they cannot offer guidance regarding any legal issues that arise during the purchase. Not only do real estate agents generally lack the legal knowledge and education needed to give quality advice about legal issues, doing so can actually threaten their broker’s license. A lawyer will be aware of the federal statutes, state laws, local ordinances, and case-specific regulations you will need to comply with in order to avoid legal problems with your new home.

Another thing to consider is the fact that a real estate agent’s main job is to facilitate a sale. An attorney’s main focus, however, is protecting your best interests and advocating on your behalf.  

Your Real Estate Lawyer’s Responsibilities

Real estate law deals with a wide range of issues including property deeds, zoning, titles, and property taxes. A real estate attorney will ensure that the appropriate procedures are followed during the home-buying process and can assist with many other issues. Your real estate agent will help you interpret the often confusing legal jargon used in many contracts and documents, help you prepare purchase agreements, title documents, and mortgage documents, and attend the closing with you. Your real estate agent is also qualified to complete title searches on the property so that you know the title is clean and not subject to any liens or back taxes.  

Contact a Libertyville Real Estate Lawyer

Even a minor mistake during the purchase of a home can result in hours of frustration as well as considerable financial consequences. To get the legal guidance and peace of mind you need when buying a home, contact a Lake County real estate attorney from Newland & Newland, L.L.P. Call our office at 847-549-0000 today and schedule a free phone consultation.

Sources:

https://www.investopedia.com/ask/answers/101314/what-do-real-estate-attorneys-do.asp

https://www.thebalance.com/when-to-hire-a-real-estate-agent-or-lawyer-4092926