The purchase of a house is the biggest investment most people ever make. Although many home sales run smoothly it is in your best interest to have an attorney, of your own, representing your interests. When you are looking to buy a home and using the services of a trained real estate professional, a licensed home inspector and a reputable mortgage specialist keep you well protected. However, it is always better to "be safe than sorry". Having a legal professional with experience and expertise in the home buying process is your smartest move. Here is some information to consider as you go through the home buying process.
Do hire a realtor with a solid reputation in the community.
Do get a home inspection done by a qualified inspector. Don’t try to save money by using a friend or relative.
Do remember the house is an investment. Go into the transaction with “eyes wide open”.
Do pay attention to the age of plumbing, type of wiring and shape of the foundation. Avoid falling in love with the prettiness of the décor or the statue of the location.
Do take your time to make the decision. Don't rush into a real estate deal.
As a real estate lawyer I am well aware of some of the pitfalls that can occur when inexperienced and sloppy real estate professionals don't manage the process well. When choosing your lawyer don't just choose by price. There are many reasons a lawyer may offer you a reduced cost. Always be cautious of the lawyer who "low-balls" the majority of his peers. Ask your lawyer if he is conducting off-title searches such as zoning work orders, taxes or outstanding utilities to make his/her fee more attractive. Also, be wary if your real estate professional just gives you one lawyer's name and not a complete list of lawyers who manage real estate law in your area.
It is always in your best interest when purchasing a home or property to keep the future in mind. Inform your lawyer how you may wish to use the property. If you are considering adding a garage down the road or possibly thinking of having tenants these are a few of the things your lawyer should know to assist you out.
Buying a home is a huge step. Always approach it as an investment, and be prepared to invest in experienced legal representation. A real estate attorney can assist you with many aspects of the real estate transaction. This is not the time to be penny-wise and careless. Remember, you only get what you pay for.