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Why is it Essential to Work with a Good Lawyer when Buying or Selling?
When someone is ready to buy or sell a house, the first thing they typically think of is getting a realtor or real estate agent. A home staging service or photographer may make their list of contractors to hire. However, they often overlook the most important assistance they need, and that is a good lawyer. Unfortunately, many people only see the importance of having a lawyer oversee the transaction when it's too late. Let’s take a look at why it’s essential that you work with a lawyer when buying or selling a house.
Real Estate Transactions Involve Contracts
When home buyers and sellers meet, they often come up with an informal agreement. However, it is the formal written contract or purchase agreement that you’re legally obligated to meet.
The terms and conditions in the contract can make or break a deal. Unclear terms and conditions in a contract leave you vulnerable, while leaving out key provisions can hurt you. You also want to be able to walk away without penalty if you can’t line up financing or close on the home you want to move into when this one sells.
Always have an attorney review your real estate contracts before you sign them. At a ... more
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