Buying a home is one of the biggest financial decisions you’ll likely ever make. And under the current seller’s market, it’s not a cheap undertaking. In addition to the down payment and closing fees, why should you add attorney fees to your list of expenses?
Real estate law is an area of law not commonly understood by most people. Today we examine some of the important services a real estate lawyer can provide:
Why hire a real estate lawyer?
If you live in Connecticut, the main reason you should hire a real estate attorney is because it’s the law. About half of the states in the U.S.—Connecticut included— are so-called “attorney-only” states, meaning a real estate lawyer must be present at a closing. The lawyer is required to ensure that the title is valid and that there are no outstanding liens on the property.
But beyond the legal mandate—and beyond the closing itself—real estate lawyers can offer many important benefits to a home buyer. They can:
- Make sure that you get what you’re owed—helping you through any legal issues that may arise surrounding the property
- Verify that your title insurance is in order and help you understand the process of title transfer
- Draft any necessary legal documentation
- Work to represent your best interests in the purchase contract
- Collaborate with the lender to process the loan quickly
When making a purchase as important as your home, you want to make sure everything goes smoothly and you get what you pay for. Hiring a real estate attorney can provide you valuable security in the process.