The real estate market in the Twin Cities hasn’t slowed down in the last year. In fact, homes in the metro area have been selling very quickly and often above asking price. You may be ready to wade into this market. Maybe you want to purchase a new home for your family or buy an investment property you can rent out. Whatever your goals may be, you know that buying a house is a big investment. Should you hire an attorney to help you as you complete the deal?
Hiring an attorney to help with a real estate transaction has many advantages, including:
- An attorney can review your purchase agreement and other paperwork, to ensure by signing it you won’t encounter any unexpected pitfalls.
- An attorney can complete a title search for a property, to ensure no one else has an ownership claim for the property and it doesn’t have any liens against it.
- An attorney can help in a sale when a home purchase relies on a buyer selling their existing home.
- An attorney can help if you are buying a bank-owned property.
- An attorney can help if you are entering a contract with a builder to construct your home.
- An attorney can help if you plan to buy a residential property that has renters or that you plan to rent out.
- If you plan to sell a home, an attorney can help you prepare your sellers’ disclosure.
Yes, you will have to spend some money to get an attorney’s help with a real estate transaction. But it can save you from facing a real estate dispute and potential legal problems down the road. You can know that someone is looking out for your best interests and helping you protect the investment you’re making. After all, multiple parties have an interest in a real estate deal. It’s only fair that you have on your side a legal professional who knows the terrain and how to navigate it toward a favorable outcome for you.