Buying a home seems simple enough. You find a home that you like. You negotiate the price, and get a mortgage. Sign the paperwork, and that’s it. You bought the house. Although it may seem simple, buying a home is actually a very detailed process with a lot of intricacies. Real estate lawyers are trained to deal with any of the issues that may arise when buying a home. This makes it essential to have a good lawyer when you are in the market for a new home.
The process of buying a home usually starts with seller entering into a contract with the real estate agent or broker. When someone is interested in buying the property, they negotiate with the broker who represents the seller. After negotiations, if an agreement has been reached, both parties sign a purchase agreement. The buyer then gets a commitment for financing. Then the property is transferred over to the buyer. Seems simple enough, right? Wrong.
Some brokers may standardize their forms and agreements. This means that certain legal matters may be left out of the agreement. Having real estate lawyers review the agreement and be able to identify possible issues is a great asset. When making such a large investment, it is important to have the peace of mind that no stone has been left unturned.
It is just as crucial for the seller to make sure that they have an attorney as well. There is most likely a clause in the brokerage agreement regarding commission. It is important to know and understand how much this broker will be paid for their services so that the seller does not feel cheated or slighted. This issue can be avoided if the seller has the right to negotiate for themselves. It is a good idea to check the brokerage contract so that real estate lawyers can explain certain things such as the implications of multiple listings.
With years of experience in the field of real estate law, the Law Offices of Marc A. Futterweit, is able to provide their real estate clients with the hands on experience that is necessary for either the purchase or sale of a home. The Law Offices of Marc A. Futterweit is able to guide each of their clients through the complicated and often times extremely frustrating process of real estate sales or purchases. Our office will do the best that we can to ensure that your new journey, whether you are selling or purchasing, is as smooth as possible. Please call our office at 973-442-0200 or visit us online at www.Futterweit.com to discuss your specific real estate situation in more detail, today!