In 2020, there were 1.33 million lawyers in the USA, some of whom are also Realtors. When buying a home, even when you have a capable real estate agent, it's also essential to have a real estate attorney. Legal representation ensures that your interests, wishes, and financial commitment are protected.
In New York and Massachusetts, only a lawyer can prepare legal documents such as home sale contracts, and performing title searches. When looking for a real estate lawyer:
Check their certifications as realtors and not any other law
Their skills and qualification
Whether they understand laws in the particular area of interest
How long they have been in practice. In 2017, there were only 207 law firms with over 500 employees, but the number is steadily growing.
How will the Lawyer Help You?
Property purchase or sale is a complicated process and involves a lot of legal work and paperwork. If it's your first time, it can be tedious and confusing. You might not even know where to start, but with the help of a real estate attorney, you'll have all the information you need.
It's also essential to have as many people working with you to ensure your interests are safeguarded. Although the real estate agent is a resourceful person, the help of a realtor adds weight to all the proceedings, especially when working with one you trust.
Helps You Prepare the Paperwork
The attorney understands all the legal paperwork required to close a purchase. They will let you know and even help with the process. You'll make fewer mistakes and make more legally informed decisions. You'll not have to sign for anything you don't understand.
The Attorney Previews and Okays all the Documents
Apart from preparing all the documents, the attorney reviews them first, verifies, and then okays. He will then explain the importance of each document and what you need to fill in.
He will review all the documents required for the purchase, such as the contract, property titles, transfer documents, and closing documents, to ensure they are authentic and in good order. He will also advise you on the course of action when a deal doesn't satisfy you.
The attorney will also be there during the closing to make sure the transfer happens, it's binding, legal, and serves your interests.
The number of realtors registered under the National Association of Realtors has steadily increased to 1.46 million in 2020, making it easier to find an experienced lawyer.
To learn more, contact a firm like Ozment Law PA.