Purchasing or selling a house is usually a significant legal and financial transaction you can make in your lifetime. No matter the type of real estate transaction you are involved in, you must protect your interests. This is where an Olympia real estate attorney is of great help. Below are reasons you need this type of attorney on your side:
They Protect Your Legal Interests
Buying a piece of property is a legal transaction that has many legal technicalities. A real estate lawyer will address all parts of the purchase or sale and protect your rights.
Selling or buying a house leads to a legally binding contract. Your attorney will review the sales contract, ensuring you are legally protected. They complete this contract correctly and comply with all aspects of real estate law in Olympia. Without legal oversight, a closing may not happen or a title may not be valid. In fact, fraud can be at hand if you go through a transaction without an attorney.
HOAs Pose Certain Legal Problems
Working with a real estate attorney when you purchase a house is especially useful when buying property related to an HOA, which governs the area the property owners live. An HOA establishes and enforces community rules that property owners should follow. If the property you want to buy is related to this association, your lawyer can review and explain the restrictions and benefits to you. Without an attorney, you can own a house with an association that requires dues, dictates the home color, or puts parking restrictions.
There are Legal Hurdles Associated with For Sale by Owner Properties
If you are selling your house, you may be confident in listing and showing it. You probably have experience with real estate agents that possible buyers will use. But if you do not have extensive real estate experience and legal practice, you can be at a disadvantage. Your attorney knows all aspects that the sales contract must include and will provide you with peace of mind knowing that all legal details of the sale are done correctly.
An Attorney and an Agent are Different
Real estate attorneys have legal expertise that agents do not have. While agents can handle simple transactions that tend to go smoothly, they cannot confront a lot of the unknowns that may arise during real estate transactions. Also, agents may not understand the legal nuances of HOA agreements and real estate contracts.
Real estate attorneys represent you and your interests. They can explain every aspect of the purchase, sale, title, negotiations, and contracts.
They Protect Your Financial Interests
Buying a house is an investment decision. With a skilled attorney on your corner, you protect the investment you make when you purchase or sell your house. The job of your attorney is to protect you, including your financial interests. They are adept in dealing with lenders, will review the documents required by lenders, and ensure every party involved will meet deadlines that can impact the timing of closing.
They Can Negotiate for You
A real estate lawyer can make offers, decline offers, and negotiate until you secure the best real estate deal. Negotiating without them means fighting against the attorney of the other party, not having the necessary negotiation strategies and experience, and not being able to evaluate the quality of offers, caveats, and stipulations related to the majority of real estate negotiations. During the negotiation process, you won’t have an expert addressing your interests.
Whether you want to purchase or sell property, hire a real estate lawyer to protect what is yours. Keep in mind that you are dealing with important financial and legal transactions, and an attorney can offer the best protection available.