People purchase new homes to enjoy the pride that comes with owning a house and being able to do whatever they want with it. Others consider it as an investment to make their wealth appreciate. Irrespective of your reasons for purchasing a new home, the decision is an important one.
Purchasing a new home takes you into the world of real estate. Real estate is unique and has its processes. You need to ensure that your house purchase does not experience legal issues that may cause problems for you in the future.
You should hire a lawyer to be part of your new house deal to keep the process within the legal framework. You also need a lawyer to ensure that all possible issues that may arise in the course of the transaction are addressed.
What are those things you will need a lawyer for when purchasing a new home?
- PURCHASE AGREEMENTS
The purchase agreement is a document detailing the terms and conditions arrived at and agreed to by the buyer and seller during negotiations of the house purchase. It serves as a legal contract between the seller and buyer.
As an individual who is looking to make a house purchase, understanding the purchase agreement is not your specialty. As a result, you may overlook some terms and conditions that may crop up soon as disputes.
Hiring a lawyer to be a part of the process will ensure that all the terms and conditions are transparent and properly documented. Lawyers ensure that the terms agreed upon become legally binding on you and the seller and also make sure that the terms agreed upon are not violating the laws of the state.
- THE TITLE SEARCH
The title search is the process of ascertaining and confirming the rightful owner of a property, as well as finding out if there are other claims on the new home about to be purchased. A clean title is required for a successful new home deal.
As an individual, you do not have the expertise to carry out a title search nor identify other claims that may exist on the property up for sale. The lawyer takes care of that aspect of a new home deal by carrying out the title search on your behalf.
The lawyer performs the title search using legal documents and public records to identify the legal owner. The title search also takes care of other details like judgments on the house, unpaid property taxes, and loans associated with the property.
The outcome of the search will determine if you should go ahead with the deal or not. Should some issues be found after the title search has been conducted, the lawyer can provide counsel on the next steps to take.
- CLOSING THE DEAL
The closing is vital in a new home deal. The closing is where the property moves from the seller to you, and you become the proud owner of a new home. This sounds simple, but the process is complicated. Hiring a lawyer makes the closing smooth and straightforward.
Ahead of the closing, the lawyer will prepare and analyze all paperwork, give you counsel on critical omissions he may have discovered in the documents.
Besides the necessary paperwork, having your lawyer present at the closing will make things simpler for you to understand and the process easy for you to navigate. Your lawyer during the closing will protect your interests, explain unclear terma to you, and ensure that both parties are on the same page regarding the terms and conditions of the sale.
Also, last-minute issues may crop up on how the property will be delivered, a new clause in the agreement, amongst other things. In the absence of a lawyer, you will be making a decision based on what you understand about the process. Having a lawyer present means terms can quickly be revisited, and both parties educated on the best way to move forward for a successful close.
A LAWYER CAN HELP YOU GET YOUR DREAM HOME
A new house purchase is an important decision that should not be left to chance. From the beginning to the end, you need a lawyer to ensure that the purchase agreements detail the terms and conditions of the sale accurately and that they are legally binding.
Furthermore, you need the title search to identify the rightful owner of the home and to determine that the house is free of any judgments that may impact you negatively.
For a successful closing, you need a lawyer to make the complicated process an easy one for you and to solve last-minute disputes that may occur while trying to close the deal.
Ensure your peace of mind and not worry about what may happen tomorrow when making the critical decision of purchasing a new property by getting in touch with Matthew R. Harris Professional Corporation today. If you plan to rent or lease out your new property, consider consulting with Avant Law on leasing and rental rules.