There is no place like home, so when people buy a home, they make sure that everything is smooth and under control. Buying a home is not a simple decision; it is a long-term investment. Everyone wants to live in a place which is comfortable and comforting. However, there are various issues which have to be kept in mind for example:
- What are the long-term benefits if this house is sold in future?
- What is the expected profit margin if the house is sold at a certain value in future?
Buying Home For The First Time
If a person is purchasing home for the very first time, then there are likely to be a lot of questions. Some people are not even aware of the legal jargon. A huge sum is involved in the form of investment, and that is why it is extremely important that everything goes well. That is why a real estate lawyer is usually considered by wise people since he has the expertise to handle the financial situations and all the relevant issues while buying a real estate property.
Role Of A Real Estate Lawyer
A real estate lawyer can carry out a variety of responsibilities for example:
- A real estate agent reviews all the legal documents to make sure there are no loopholes.
- A real estate agent also reviews the Agreement of Purchase.
- The Agreement of Sale is also reviewed by a real estate lawyer.
- The real estate lawyer also reviews the Status Certificate, when a condo is purchased by an owner.
- A real estate lawyer also takes care of the property taxes that whether these are up to date and they also make sure that there are no claims filed against the property of the owner.
- A real estate agent also calculate the land transfer tax.
Real Estate Lawyer Fees
Usually, it is a notion that a real estate agent can charge a lot of fees for the services. However, it is between $700 to $2000, and additional charges are incurred for registering the mortgage on the client’s behalf which ranges somewhere between $300 to $800. The real estate agent can be somewhat costly in comparison if a person is selling the house since it is a little-detailed procedure. With the help of a real estate agent on a side, a person can be saved from a lot of issues.
Buying Home Without A Real Estate Lawyer
Handling the real estate industry is not everyone’s cup of tea. The laws are sometimes complex for a normal person and without the real estate lawyer, a lot of complex legal procedures have to be handled by the homeowner. The era of modernization and information technology has brought numerous changes in the life of a modern man. A modern individual has certain know-how about everything since there are various opportunities to get the required information from but having a little help on the side can never hurt especially if it is a long-term investment.
Despite the fact, that the real estate lawyer can charge some fees, it can be worth the cost to save oneself from a lot of hassle.