What Should You Know Before Buying a House? | Rubén J. Padrón, PA

What Should You Know Before Buying a House?

August 23, 2022

Buying a house is one of the most exciting moments of your life. It is a major milestone and something you can point to as a transition point. Before you get too excited though, it is important to recognize that there are some things that you need to focus on about your home purchase before you fully settle on doing it. For example, you should look at getting real estate attorneys to help you through the process. 

Complex Real Estate Transactions Need the Help of a Lawyer

There is no question that a complex real estate transaction will require the help of a lawyer every time. There are some cases when one knows from the very beginning of their real estate transaction that they will need the help of a real estate attorney. Here are a few examples of times when this may be necessary: 

  • When you aren’t certain what the community interest development agreements mean a lawyer can help. These are documents that may be presented to you when you first begin the process of considering moving into a new neighborhood. If these documents are complex and/or confusing to you, then it may be necessary to bring in a real estate attorney to help you out. 
  • You may consider working with a lawyer to structure the deal if you are going to get a private loan from a family member or friend to facilitate the purchase of a home. 
  • If you are planning on buying the home jointly with other buyers, then there is no doubt that you will need to get a lawyer to come and help you out with something like this. You simply cannot take a chance on buying a home without a lawyer when you have that many other parties with their hands involved in the deal as well. 

These are just three examples of when it may be helpful to have a lawyer around to help you out with a deal. There are obviously other times when a lawyer may be extremely useful in a real estate transaction as well. Still, these are some of the big ones that you ought to know about if you are about to purchase a home for yourself. 

Complexities Mid-Transaction

Another time you may be extremely thankful to have a real estate lawyer working with you is in the middle of a real estate transaction. This is when you want to take extra care to make sure that you have the right attorney working for you. Here are some times when it can be helpful: 

  • When you need to make sure that the current tenant will be moving out before closing
  • You will let the seller remain living in the property beyond closing, but you want to be sure that they pay you rent
  • There are problems on the title report for the home 

Any of these circumstances could pose a real risk to your entire transaction, and that is why you need to do everything in your power to make sure you have powerful legal counsel to help you out in any and all of these situations. Take no chances, and get a great real estate attorney from the start. 

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