Most people’s biggest, single purchase is a home. Although owning your own home can instill a sense of pride in you, the process of buying a home is often fraught with complex issues and occasional headaches. Using the services of a real estate lawyer in Monroe NC can help you avoid potential pitfalls and make the home-buying process a seamless process.
Real estate attorneys complete a variety of tasks. Transaction attorneys assist with the real estate closing and litigators handle any lawsuits that arise out of the real estate contract. A litigator can assist with matters such as seeking specific performance if a seller does not comply with the terms of the contract, landlord tenant disputes and disputes with the homeowners’ associations.
A transaction attorney can also look over mortgage documents and inform you of important clauses, such as prepayment penalties. If you hire an attorney to assist you with your contract, he or she can also insert clauses into the real estate contract that provides contingencies you may need to proceed with your sale or purchase. A real estate attorney will also include important conditions if you are purchasing the home, such as financing conditions and a condition for home inspection. A real estate attorney can also draft a rental agreement if you are planning to rent out an investment property to a tenant.
Importance of a Real Estate Lawyer
One of the most important tasks that a real estate attorney can complete is examining the property’s title. This process involves checking for any encumbrances against the property, such as liens or existing easements. The attorney will likely recommend that the client get title insurance to protect against any title defects that are discovered after the property is purchased.
A real estate attorney will handle your closing and inform you of all legal implications of the documents that you are signing, such as your obligation to pay property taxes, homeowners’ association fees or condo fees. After hearing the legal explanation of the documents, you will have a better understanding of your rights and responsibilities and avoid future conflict.
If you are looking for a real estate attorney, an attorney at Perry, Bundy, Plyler, & Long, LLP, can assist you with all matters related to real estate law. Contact our lawyers in Monroe NC for assistance with any real estate problem or transaction that you have.