Think You Don’t Need An Attorney For Real Estate?

Think again. There are so many reasons that it is wise to get an attorney when making such a large investment. Whether it be a personal investment or an investment for your business, making sure a lawyer is on your side is the only way to ensure that you are getting what you deserve. 

Couple meeting with lawyer

Congratulations! You’ve found the home of your dreams. You might think it’s unnecessary to hire a lawyer to sit with you at the closing table when you buy a home. Most states don’t require that you use one. Closing is the last step in the process, so why spend the extra money? 

The fact is, for most people buying a house is the largest purchase they will ever make. When you are signing your name to a transaction that may affect you for years to come, hiring a lawyer now might save you a lot of headaches later. A lawyer’s help can be valuable throughout the process.

A Lawyer Understands Legalese

When you make an offer on a home, your real estate agent assists you through the negotiation process. When you strike a deal, whether you’re the buyer or the seller, the agent will draw up a contract for sale. When you sign it, you lock yourself into the deal. Lawyers are experts in contracts. 

If there’s any language included in the contract that you don’t fully understand, you need a real estate lawyer. A lawyer not only explains what you’re signing but also tells you if it’s in your best interests to do so. A lawyer can suggest changes to the standard contract.

A Lawyer Will Research a Home’s Title

Someone has to make sure that the home you are buying is free and clear of liens. Any liens against the property transfer to you after you purchase it. You might think this is what you are paying a title company to do – to make sure the home has clear title. 

But lawyers usually do more to protect your interests. They’ll look for things like third parties’ rights to use a portion of your property. A utility company, for example, might have buried a power line in your back yard or have an easement allowing it to do so in the future. You could never put a pool there.

Some Lenders Require a Lawyer at Closing

If you don’t hire a lawyer, much of the work involved in buying a home falls to the title company. Some title companies won’t accept that responsibility and require that you hire a lawyer. Some mortgage companies won’t let you attend closing without counsel, either.

Here’s what the attorneys at the Pak Law Offices can do for you as well: 

    • Sales/Purchases – Whether you are buying or selling, we will draft or review real estate contracts and purchase and sale agreements depending on your needs and your budget.
    • Acquisitions and Dispositions – We assist in the formation of partnerships, limited liability companies, joint venture agreements and purchase and sale agreements in connection with the acquisition and disposition of real property.
    • Leasing/Subleasing – All areas of leasing activity, including industrial ground leases, sale-leaseback transactions, and retail and office leases of all kinds are part of our comprehensive representation of developers, owners and lenders.
    • Litigation – We will prosecute or defend claims you have or have been brought against you.  We handle all areas of litigation involving construction and real property, including, but not limited to, commercial and residential real estate contract disputes, contractor/sub-contractor disputes and Registrar of Contractor’s complaints.

We can also refer you to an Arizona licensed Realtor® who can assist you in all aspects of a residential real estate transaction.

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