If you are selling your home or commercial property, you may think that hiring a real estate agent is essential to ensure a smooth transaction and maximize your profit. Although real estate agents can be helpful, it is not always necessary to employ their services. Enlisting the help of real estate attorneys can help you easily close the deal and put more money in your pocket.
The Role of Realtors
Real estate agents typically advertise and market your property with an MLS listing, assist you in preparing your home for showing, and take care of many of behind-the-scenes tasks. While an agent can help you prepare documents and negotiate, he or she cannot provide legal advice. A real estate attorney can provide you with legal guidance, draft and review contracts, and give you all the legal counsel you may need during the process of selling your property.
Many transactions may not require a real estate agent to sell property, especially “For Sale by Owner” transactions, owner finance arrangements, and other direct seller-to-buyer transactions. If you do decide to hire a real estate agent, oftentimes the agent and attorney will work hand-in-hand to close the deal for you.
Benefits of Hiring a Real Estate Lawyer
A real estate attorney is paid directly by you, and his or her fees should be determined from the start. The job of an attorney is to act as your representative, and he or she will be paid regardless, so an attorney is not motivated by earning a commission.
Many issues can arise with regard to the title to a property, and an experienced real estate attorney will investigate the history of the property’s ownership, survey and other issues such as easements and drilling rights.
The counsel of a qualified real estate attorney is particularly important once the property is under contract between a buyer and seller. A real estate purchase and sale agreement is the contract that is drafted after acceptance of an offer by both the buyer and seller. Your attorney can draft a real estate sale and purchase agreement that ensures your interests are protected during the transaction.
Your lawyer will also work to ensure that:
- title to the property is clear of encumbrances such as liens, mortgages and judgments
- a title insurance policy is in place
- buyer clearly understands the terms of the mortgage and promissory note
Engaging the counsel of qualified real estate attorneys to assist you in the process of selling your property is well worth the cost and can save you money in the long run. Carosella and Associates’ experienced and knowledgeable attorneys practicing in Chester County, Delaware County and Montgomery County will protect your interests and help to complete a worry-free transaction from listing to closing. Learn more about our full range of legal services in Chester, Montgomery and Delaware County here.