Why do I need an attorney in every real estate transaction?

Buying real estate is a complicated business, and it's likely the largest single purchase you'll ever make. So don't you want someone on your side who's expert and knowledgeable? Your real estate attorney can look out for your interests, ensure you get a clear title to your new property and help you protect your investment for the future.

Before the closing, your attorney can explain the following:

Your liability if assuming an existing mortgage
The effect of any existing mortgage and construction liens
Alternative means of financing
Home Inspections
Where and how to file for homestead exemption
The seller's liability after the sale
Post-contract liability for fire and other hazards

As part of the job of protecting your interests, your attorney will:

Obtain a title search, evaluate the status of the title, and require appropriate legal remedies to clear defects
Prepare or review the Closing Statement and other closing documents, and inform you about any stipulations that affect your interests
Advise you how title should be taken and how this affects your overall business and personal estate
As required, investigate zoning ordinances and other governmental use restrictions
Relate the income, estate, and gift tax consequences to your estate
Check unrecorded municipal liens, including sewer and special assessment liens
Advise you on what the title policy does not protect against, with emphasis on insurability and marketability.

At closing your attorney will check every detail, making sure the documents carry out the parties' actual intent as originally expressed in the contract, and meet the requirements for a marketable title. This is the most critical part of all, and your attorney's participation is important in helping you protect your investment and your financial security.