Buying a house is a big decision. In fact, it is the single biggest investment that most of us will have in our lifetimes. Therefore, it is critical to have a team of real estate professionals on your side. When embarking on a home search, your first step should be to hire a local and knowledgeable real estate agent. Assuming you are planning on obtaining financing for your home purchase, you will also need a reputable mortgage broker to assist you with the home loan process. Lastly, it is always a good idea to hire a real estate attorney to oversee your contract, title searches, and closing. (To learn more about the key aspects of a home purchase contract, click here.) Your real estate agent can be a great referral source for mortgage broker and real estate attorney options. Below, we discuss some reasons why you should consider hiring a real estate attorney.
Reasons to hire a real estate attorney
- Peace of mind: For starters, having a real estate attorney representing you in a real estate purchase can provide you with great peace of mind. There are many potential issues that can arise during a real estate purchase and having a real estate attorney on your team will limit the likelihood of costly errors being made.
- Avoid costly mistakes: Real estate transactions are complex and there are a lot of details to keep track of. An attorney can help you make sure that you don’t miss anything important and that you don’t make any mistakes that could cost you money down the road.
- They can protect your interests: When you’re buying a home, there are a lot of people involved in the process. The seller, the real estate agents, the lender, and even the title company. An attorney can help you make sure that everyone is working in your best interests and that your rights are protected.
- Review the home title: When purchasing a property, it is critical that there is a clear title that is free from any liens and open or expired permits. A real estate attorney will be extremely helpful with identifying these potential issues with a home.
The home purchase process is extremely complex with plenty of areas for things to go wrong. For this reason, having a reputable team of a real estate agent, mortgage broker (if applicable), and a real estate attorney is paramount. Of course, it is possible that many of you reading this article may be able to cite examples of past home purchases where you did not use a real estate attorney and everything turned out fine. While this may be the case, hiring a real estate attorney is like having an additional layer of protection for the unknowns. In addition, the additional cost of hiring a real estate attorney is likely not as much as you would expect. As a best practice, you should seek recommendations from your real estate agent, mortgage broker, friends, and family.
Are you ready to buy a home in South Florida? We can help! Contact Natasha at Live South Florida Realty, Inc. today! Also, be sure to download the free Florida Home Search app for your smartphone or tablet.