2 Reasons To Hire A Real Estate Attorney

Posted on: 3 August 2016

One of the most useful professionals that you can hire when buying a home or piece of property is a real estate attorney, mostly because he or she can help you with a variety of issues that can come up during the buying process. Listed below are two reasons to hire a real estate attorney.

Will Be Impartial

One of the biggest reasons to hire a real estate attorney is that he or she is more likely to be impartial than a standard real estate agent. The reason for this lies in how the attorney is paid versus how the agent is paid. Since an attorney is paid by the hour, he or she doesn't really care if you purchase the house or not, so he or she is more likely to bring issues to your attention that may put you off from buying the property.

On the other hand, a real estate agent is only paid if you buy the house, so there is a chance that the agent will gloss over problem issues in order to increase his or her chances of making the sale and being paid. Granted, the majority of real estate agents are likely too honest to do this, but there is still a chance that you may end up dealing with a greedy or unscrupulous agent.

Will Review And Revise The Sales Contract

Finally, you will want to hire a real estate attorney in order to have a professional review the sales contract and revise it as necessary. This is very important as the sales contract can often be a very lengthy document that you may be tempted to skip reading, which can be a mistake as you may miss a part of the contract that greatly favors the seller of the property while posing a potential issue for you. An example of this would be the contract stating that if you withdraw from the purchase of the house for whatever reason then the earnest money that you provided is forfeited to the seller.

A way around that is to have your attorney revise the contract stating that you can withdraw from the sale and get your earnest money returned if an inspector finds problems with the house and the seller refuses to fix the issue. The contract can also list out repairs that you wish to have performed by the seller as terms of the sale. 

Make an appointment with a real estate lawyer, like Steve Butcher Sr, today in order to discuss what assistance he or she may be able to provide with your upcoming real estate transaction. A real estate attorney can protect your interest by being impartial and reviewing or revising the sales contract if necessary.