Don't Be Penny Wise & Dollar Foolish Hire A Real Estate Attorney
I have personally represented hundreds of clients who were hesitant in hiring a real estate attorney. Perhaps they assumed that the assistance of a real estate agent and title company is all they needed for a successful transaction. The truth is that there are real estate attorneys for a reason. ALL of my clients realized at some point in the transaction that my legal expertise, guidance and protection of their rights was invaluable. Whether it was because I saved them thousands of dollars in negotiations, guided buyers to perform all due diligence including underground storage tank "UST" testing and obtaining OPRA requests in municipalities with no Certificates of Continued Occupancy to make sure that there are no open permits or violations on the property, prevented them from closing with liens of the property . . . or simply holding their hands and guiding them through one of the most important and sometimes stressful transactions in their lives. All of them realized that they had made the right decision in hiring a real estate attorney.
CONTRACT REVIEW BY A LEGAL PROFESSIONAL
Real estate purchase contracts can be lengthy and packed with legal jargon. You might feel pressured by an eager seller to sign on the dotted line without reading and properly understanding the contents. A real estate attorney will ensure that you understand all terms in the contract and advise you if any of the contents are potentially detrimental.
Title review BY A LEGAL PROFESSIONAL
The title search is required to insure that the seller has the legal right to sell the property to you (i.e., that there are no encumbrances, such as judgments or liens, that will hinder or even prevent the transaction). The outcome of the title search is extremely important because it reveals whether the seller has the legal right to sell the property in question. An attorney will be able to provide the full legal analysis of the title search to the buyer. If a title defect is discovered, a real estate attorney can provide the seller with suggestions for satisfying those claims, and later obtain proof that they have been satisfied.
Smooth Closing Structured BY A LEGAL PROFESSIONAL
There are numerous steps and procedures that must be followed to entail a smooth and timely closing:
§ Preparation and review of closing papers such as the deed
§ Title to the property passes from the seller to you
§ You pay the balance of the purchase price
§ A closing statement is prepared that itemizes the transactions between the Seller and the buyer
A real estate attorney will provide valuable assistance if there are last-minute questions or disputes over certain costs. Without one, your rights may be jeopardized if something goes wrong during the closing.
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Law Office of Stella V. Bondar, Esq., P.C.
Real Estate Attorney
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