Buying a home is a stressful experience, especially if it is your first time. While the prospect of becoming a homeowner may be exciting, it does not take away from the fact that the home buying process is often full of complexities.
Purchasing a house is probably the biggest transaction of your life so far. You want to ensure everything is as clean-cut as possible so you do not run into trouble. While you can buy a house on your own, you may want to consider getting help. Here are some signs you may want a real estate lawyer to save you a headache.
Some real estate papers are standard and straightforward, but others can be difficult to understand. Complex documents include CC&Rs, new home contracts and co-op proprietary leases. Even purchase agreements and deeds can contain strange language and terms. Some wording and provisions may also be vague. If you have trouble grasping documents, you may want to ask for help.
There is no broker or agent
If you pursue a home for sale by the owner, this can save you a lot of money. Thankfully, you do not need to pay real estate commissions in this situation. However, someone needs to prepare the paperwork, conduct a title search and negotiate terms.
Complex negotiations or purchase offers
Home sales are not always easy. It can be difficult to see eye-to-eye with a seller on certain issues. Potential issues that may arise include an escalation clause, moving belongings into the house before closing or title report disputes.
Problems with the deal or property
Some real estate transactions can get quite murky. If you encounter issues such as easements, boundary disputes, rights of way, litigation or foreclosure, you may need help resolving them.
Ultimately, whether you get legal representation while buying a home is up to you and your unique circumstances.