If you’re in the market to buy a home, you’ve likely enlisted the help of professionals like real estate agents, mortgage lenders or home inspectors to help you make the right decision. After all, buying a home is a significant investment. But one professional people tend to overlook for home buying is the real estate attorney.
In a majority of states, including Louisiana, it’s not legally required to have an attorney when purchasing real estate or property. Buying real estate has become quite standardized, and many people wish to skip the added costs of legal counsel. However, having a lawyer in your corner could be indispensable for navigating the complex home buying process.
What can attorneys do?
A real estate attorney will work to ensure everything is legally-binding and all transactions are in your best interest. The representation of a lawyer can provide invaluable help to many areas of real estate purchases:
- Contracts: No one likes reading the fine print, but it’s critical in real estate transactions. A real estate attorney will review your contract to ensure its legally valid and adheres to state laws, negotiate on your behalf and make any necessary changes or contingencies.
- Title searches: A title search serves to make sure the home seller has the legal right to sell the property. If the property has any liabilities, such as a lien or legal judgment, a real estate agent will let you know how to proceed.
- Filings: You must file real estate deeds with the county and state. If the deed isn’t properly transferred, it could lead to income or estate taxes being levied. A real estate attorney will file all important documents promptly to the proper authorities.
- Property transfers: Contract negotiations with corporations, partnerships or trusts can be incredibly complicated. A real estate attorney will ensure the transaction doesn’t violate any party’s charter agreements and that the contract is consistent with state laws.
The bottom line
Real estate transactions can be highly complex. If you wish to safeguard your rights as a homebuyer and feel confident when you close the deal on your property, having legal counsel on your side is essential.