Top 6 Situations When You Should Hire a Real Estate Lawyer When Buying a House

People do a lot of preparations when selling or buying a house. They shop around, look for a mortgage lender or a bank, and even get a real estate agent. Buying or selling a house is a process that requires to be handled with caution. You will need to find a reliable title company and home inspectors. However, there is one vital professional that some people overlook- a lawyer. Many people don’t consider a lawyer a crucial part of buying a house. However, various circumstances may necessitate having a professional by your side. The following are situations when you may need a lawyer during the home buying or selling.

1. You Are a First Timer

If you are buying a home for the first time, there is probably a lot you don’t know about the process. The complicated forms and the industry language may be new to you. In that case, it is advisable to get help from a Spokane real estate attorney who understands the terms to ensure you will not be taken advantage of. It is good to know what you are getting yourself into. Many people are exploited and spend too much money than it is worth. It also does not give you peace of mind if you are venturing into buying a house without help. 

2. There is a Title Issue

Sometimes, you may have an unpaid debt hindering you from selling your home. Take a situation where a couple owned a home but divorced. One spouse took the house after the divorce settlement, but the name of their spouse is also on the title deed. A lawyer can help in such a case so you can sell the house. So, if you are selling a home, but there is an issue with the title deed that needs to be resolved, a lawyer will be necessary to fix it.

3. There is a Dispute Between the Buyer and the Seller

Hopefully, the buying or selling process goes smoothly. However, there are situations when there is a hitch, and the seller and buyer are in dispute. When a problem arises, it is essential to have a lawyer to help solve it. It could be the seller accepted another offer after receiving yours and wants to default your contract or asks you to pay more. 

4. You Are Selling or Buying with a Contract 

A real estate attorney will also be necessary if you are using a contract of deed to sell the property. The contract of deed is simply a rent-to-own situation. If you want to proceed with the process, understand that strict compliance is required. You also need to know you can lose the right to buy the house if you don’t pay as per the contract. 

5. You are Selling the Home Yourself 

It is also advisable to hire a lawyer if you are selling based on For Sale by Owner. The professional will assist in drafting the documents you need. They will help ensure the terms are fair and legal.

6. You Are Buying a Foreclosed Property 

Buying a foreclosed house can be a good idea to save money. However, purchasing can be tricky, rendering the need for a lawyer. They will walk you through the process and help you identify the right property. 

In a Nutshell: Reasons to Hire a Real Estate Lawyer

These are situations when you should hire an attorney to help you. The professional will take you through the process if you are a first-time home buyer and help resolve any issue that might come up.

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