While a real estate agent can be a valuable resource in the process of buying or selling a property, it is generally a good idea to also have an attorney involved in the transaction. An attorney can provide legal advice and representation, and can help protect your interests in the transaction.
There are several reasons why it may be beneficial to have an attorney review your offer to purchase real estate, even if you are working with a real estate agent. For example:
An attorney can review the terms of the offer to ensure that they are fair and reasonable, and can advise you on any legal issues that may arise during the course of the transaction.
An attorney can give you legal advice as you negotiate your contingencies.
An attorney can help you understand the potential risks and liabilities associated with the property, such as zoning restrictions or encumbrances on the property.
An attorney can negotiate any necessary changes to the offer on your behalf.
An attorney can ensure that any liens, that are a matter of public record, are satisfied prior to closing.
An attorney can review and advise on your title insurance policy and title insurance exceptions.
An attorney can review and advise on any documents related to the transaction, such as the purchase and sale agreement, financing documents, and closing documents.
In summary, while a real estate agent can assist with the practical aspects of buying or selling a property, an attorney can provide legal guidance and representation to help protect your interests. It is generally a good idea to have both a real estate agent and an attorney involved in the transaction.