All too often, those who would definitely benefit from official legal representation fail to get the support they require. People don’t consider the lasting legal ramifications of any mistakes that they might make while navigating major life decisions, such as purchasing real property.
They may trust in a real estate agent who has training on the paperwork and property research process but who might not necessarily have any meaningful understanding of Massachusetts real estate law. Given that buying a home is probably the largest transaction that a person will ever complete, quite a few people would benefit from having a lawyer involved in the home purchase process.
How does a lawyer support someone looking to buy a property?
They help craft a more protective offer
The terms included in a buyer’s offer determine how appealing it is to the seller and what risks the buyer has to assume in the process. An attorney familiar with the cases often brought to the Massachusetts civil courts related to real estate transactions will have a better understanding than the average adult of what kinds of protections home buyers require.
From appropriate contingencies to terms that will ensure a seller moves out on time, there are many custom additions to offers and purchase agreements that lawyers can integrate into a buyer’s documents.
They can provide thorough title inspections
Title policies are often purchased from large corporations recommended by one of the real estate agents involved in the transaction. These companies turn out hundreds of policies daily, and mistakes in the title research and curative stages of issuing a title policy are very common.
Improper title research might lead to someone buying a home with likely blemishes and being at risk of expensive and stressful claims against their ownership interest in the future. The hands-on title review provided by a legal professional will undoubtedly give a buyer a stronger foundation on which to build their own title history for the property.
They have someone to advocate for them
Some real estate agents are skilled negotiators, and others are just good at networking. When things go sideways during a real estate transaction, buyers need someone who can push for the optimal outcome effectively.
A lawyer who is already familiar with a transaction and the needs of the prospective buyer will have a much easier time assisting in the resolution of a dispute that could potentially result in cancelation of a closing. Getting proper support during a residential real estate transaction can help buyers to protect their investments and maximize their personal protections.