When making major life decisions, most of us will spend a significant amount of time researching and creating a plan of action. Sometimes we discover there are situations that can be handled by ourselves, while there are situations that require a professional to help guide us through the process to ensure a successful outcome. Real estate matters are one of those life moments that are better resolved with the assistance of an experienced attorney! Read a previous blog to learn more about the role of a real estate attorney.
Time and time again we hear “what not to do” warning stories of people who tried to sell their homes on their own and ended up regretting it. These people often encounter challenges that could’ve been avoided if only a prospective seller had consulted a real estate attorney prior to placing their home on the market.
“The right real estate attorney will be skilled in the laws and regulations of your area and will be available to oversee the legal details of your business deals. No matter what side of a real estate transaction you are on, whether it be buyer or seller, a real estate attorney can assist you in a number of ways.” – Fortune Builders
Avoid potential regrets and mistakes by equipping yourself with a trustworthy attorney that has your interest in mind. Below attorney Ben Weaver shares a few common questions that you may want to ask your attorney based on your situation…
Home Buyers: Your real estate agent has called and they’re excited to show listings in the school zone you want your children to attend. Everything seems to be falling in line, buying your first home is becoming a reality! You have a few questions before taking most of your savings and making a purchase. Your realtor recommended you reach out to an attorney for guidance…
- How can I submit a counter offer on a home I love when someone outbids my original offer?
- We want to ask the seller questions regarding flooding in the past and other damage – but how do we know the seller has given us all the facts about previous property damage? Is a seller required to disclose all past property damage?
- When is the “right time” to place a final offer on a property?
- Where can we find credits or potential financial agreements with the seller in our closing documents?
- Is there a grace period on a purchased property in which we can reverse the sale if needed?
- How much is the property tax on our future home? Does it vary depending on location?
Each state has different real estate laws regarding what a seller discloses, property taxes and even how the closing happens. Acquiring an attorney is the best way to protect yourself. Read why first time home buyers benefit from hiring a lawyer!
“I absolutely appreciated working with Ben. His professionalism gave me great confidence in the beginning and his friendliness eased my nerves since this was the first time I’ve ever gone through the process.” – Redfin
Home Sellers: You’ve spent a lifetime creating memories in your home. You’ve also spent a significant amount of money developing the property and upgrading the home since you originally bought it. You are now ready for the next chapter in your life and want to make sure you earn a nice profit on all your hard work. You’ve made the smart discussion of obtaining an real estate attorney to answer your many questions…
- How does a potential buyer’s loan affect the sale of your home?
- What red flags should you look out for when choosing the future owner of your property?
- At what point can I NOT back out of the sale of your property?
- Are there laws that prohibit the sale of your home due to construction issues?
- Can you make requests of cash instead of checks for the sale of your home?
- Can I be held liable for any damages after the sale of the property?
To ensure the process of selling your home goes smoothly, invest in an attorney that’s knowledgeable about local sales. Read more about the benefits of hiring an attorney for the sale of your home!
“We used Ben for both our home sale and purchase. He was great in helping us negotiate repairs on both transactions and in keeping everything moving when one party was moving very slowly.” – Redfin
Estate Planning: There is a common misconception that estate planning is only for the elderly. Many Americans have come to the realization that it’s wise to have your affairs in order from early on. If you are a newlywed or have children, acquiring a living will is vital when it comes to protecting your loved ones. It’s natural to have questions when getting your estate in order. Your attorney can be a guide even a power of attorney if the need arises…
- What does it mean to invoke a power of attorney?
- When is the right time to set up a living will?
- Can a parent be my power of attorney even if I’m married?
- How do I add a DNR to my estate planning ?
- How can our life insurance affect our children’s inheritance?
- Can I leave some of my property out of my will or most all my property be listed in my will?
There is a profound peace in creating security for your family. It isn’t morbid to ensure their financial protection. Learn more about creating an Estate Plan!
“Ben was great to work with. He was always available to answer questions and offer his professional advice. We highly recommend Ben!” – Redfin
“While you can’t ask for specific details about similar cases they’ve handled, it’s okay to ask a real estate attorney what strategy they would use in your situation. This is also a good way to get a feel for how much the attorney actually knows when it comes to real estate law. Ideally, you want an attorney who can offer you a brief but detailed plan of action, rather than a vague assurance of success.” – Smart Asset