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Buying or selling a home is something that most people experience in their life at least once. After all, it’s the biggest investment one can make! But, before you make the investment, you need to have a professional real estate lawyer for selling or buying a home by your side to protect your investment.
Wonder why? Let us tell you how a professional lawyer helps behind the scenes in the event of home buying or selling.
What Does a Professional Real Estate Lawyer Do During a Home Purchase and Sale?
Whether you buy a home or sell it, the last thing you wish is to face loss or fraud in the investment. Here’s where the value of an experienced real estate lawyer lies during a home sale or purchase!
Generally, property owners don’t prefer to meet any lawyer throughout the process until the last minute when it’s time to sign the legal documents required for deal completion. After all, the buyers and sellers often feel overwhelmed seeing the pile of paperwork. Moreover, when you don’t have any idea of the real estate laws, the deal will struggle to go green!
Professional real estate lawyers ensure you clearly understand every document you sign, including how the home selling or buying process works. In fact, there are other ways where these experts can help you. Have a look:
#1: Examine The Property Title-
No matter how thoroughly you investigate the home, it’s easy to miss out on the property title transferred to you. You can get a surprise at the time of closing or after buying or selling it, such as liens, restrictive covenants, or easements, which are common encumbrances during the title transfer.
Having an experienced real estate lawyer to buy or sell a house will help you avoid such title and mortgage fraud. The experts examine the property title and ensure it’s free from liens and easements so you won’t face any further challenges during the closing or down the road.
#2: Help With Financial Documents Preparations-
Are you buying your new home using a mortgage? If yes, you may know well that the bank’s instructions depend on your mortgage amount, the term and its type. According to the instructions, you need to provide the legal mortgage documents. But, preparing and registering those can be challenging and overwhelming for you as bank papers have different writing, including terms and conditions.
With the help of a professional lawyer, you can easily prepare and register the mortgage documents while understanding the terms and conditions required. For example:
- Prepayment privileges
- Interest calculations- when and how
- CMHC obligations
- Ownership debt, if any
#3: Contract Review-
Admit it or not, you visit the lawyers at the last minute during a home purchase or sale when you receive the signed copy of the Interim and Offer to Purchase agreement. These documents ensure you have fulfilled all the deal conditions and are ready to proceed. In this case, you can provide your lawyers with the documents. They can help you review the contract to ensure the key terms and conditions, including liabilities, rights, and obligations under it. Also, the experts can identify the potential issues with the contract while proposing dealing options and preventive measures to ensure a smooth transaction.
Peter B Mason Real Estate Lawyers – Best Real Estate Lawyer for Selling or Buying a Home
It’s necessary to understand what to expect and not during the home buying and selling process so the transaction remains in control. At Peter B Mason Real Estate Lawyers, our experts can help you throughout whether buying, refinancing or selling your home. We understand how important the investment is for you and ensure protecting it,to get an estimate now, or download our mobile app on the Apple Store or Android App Store today to stay in touch!