If you’re looking to buy or sell property, you probably already have a realtor—but you may not have considered the advantages of working with an experienced real estate attorney.
In a recent article for Bob Vila written by Eyet Law’s Jacob Narva in collaboration with Matthew Eyet, the two explain how important it can be to have legal help while buying or selling a home.
You can check out the full article here, but here are a few key takeaways from the piece.
A real estate attorney can help you ensure a smooth closing
Working with a real estate attorney is a good way to ensure that your closing agreement reflects your actual intent. An attorney can assist you in drafting the initial agreement—or they can review the standard agreement to ensure that everything is in order.
As Narva points out, the parties involved in real estate transactions often make adjustments to certain terms, even when the standard documents are used.
“Whenever a buyer or a seller wants to include specific terms—like a partial appraisal waiver, rent-back provision, or timeline requirements—it’s important that an attorney confirm the language used actually reflects what is intended.”—Jacob Narva, Attorney at Eyet Law
Real estate attorneys can serve several different roles
About half of U.S. states require attorneys to be involved in closing transactions, while other states allow you to choose whether or not you’d like to hire legal representation.
In states that do require the use of an attorney, real estate attorneys may serve as closing attorneys who act as a neutral third party, but they may also represent the seller, the buyer, or both—however, it’s recommended not to have the buyer and seller share the same representation, as this may create conflicts of interest.
Hiring a real estate attorney may actually save you money
Although many real estate transactions go off without a hitch, hiring an attorney can provide important protections against unexpected costs or litigation. Having experienced legal representation on your side can actually save you time, money, and trouble down the road.
“It can be easy to forget the vital role real estate attorneys play. But much like title insurance, on these occasions when something unexpected happens you will be glad you included an experienced attorney in the process.”—Jacob Narva, Attorney at Eyet Law
Want to know more? We can help
If you’d like to learn more about how an attorney can help safeguard your real estate transactions, check out the full blog here or reach out to our experienced legal team. We’d love to guide you through your options for legal representation moving forward.