There are a few circumstances when you might not need a Real Estate Lawyer Huntersville NC. One occasion is a straightforward cash sale. Another is if you are buying from a trusted friend or family member. It is also possible you have real estate experience or highly trust your broker and are confident the risk of problems in the transaction is minimal. However, in these situations there is no harm in hiring a lawyer.
In other situations, you definitely want to consider hiring a Real Estate Lawyer Huntersville NC. The number one reason is that a real estate purchase will be your largest expense ever. Why not spend a fraction of one percent of the cost to make sure everything goes right? Also to consider on the financial front is that the lawyer is the only one that gets paid whether the closing happens or not. Where everyone else will be under pressure to finish the deal to earn their fee, the lawyer earns their fee by telling you if there is a reason to walk away.
The lawyer will also be able to help with the paperwork. Drafting and changing the contract is a lawyer’s work and if only the other side has a lawyer, they may be heavily favored in the deal. If there is a homeowner’s association, coop board, or some other organization to deal with, the lawyer will review their minutes and financial statements and will know based on their experience what the potential for problems is.
If complications arise, a lawyer knows what is customary and what is not. If there is tricky language or something seems a little off, the lawyer can provide an objective and unbiased view on if there is really something wrong or if it is just an odd way that things are always done. Further, if you know there are issues from the start, such as a complicated title history, such as foreclosure and short sale, the lawyer will make sure you get good title free of any liens. If the property needs work to get up to code or you have negotiated for improvements, a lawyer can make sure the contract is airtight in case promises are broken.