Why You Must Seek the Services of a Lawyer When Buying a New Home!
Lawyers; we’ve seen just about every version of them. Yep, there’s the people’s hero, the one who fights for truth, justice and the sovereignty of the American constitution.
Then we have the proverbial scumbag lawyer that’s been shown so much on our screens that some of us automatically associate them to most lawyers that we meet on the street!
Unfortunately, that’s the power of Hollywood…
Which in reality, has translated to us being more cautious of the lawyers that we hire to handle our legal stuff. On the bright side, most of us are aware of the importance of having a credible lawyer when it comes to purchasing a property.
Indeed, if you are expected to sign any binding documents or legal agreements that involve massive transactions, it makes perfect sense to ensure there are legal eyes around that understand every parchment of paper that is being passed our way.
That being said, the Real Estate Authority believes that a lawyer isn’t only there to double check the documents that you are required to sign. In fact, we should view them as a valuable asset and a point of support all through the negotiations of buying property and the overall process, and not just someone that will handle the paperwork.
Nevertheless, levels can transition surprisingly fast during transactions dealing with property. Therefore, it is paramount that we contact the services of a lawyer early on to handle all the particulars beginning from the sale ads.
Keeping this in mind, here’s what to ask them the first time around:
Are They Specialists in Conveyancing?
At first view of their portfolio, it might seem that the lawyer one is eyeing could have all the answers dealing with conveyancing. Nevertheless, it is always wise to receive a second opinion (preferably from a second lawyer) that the lawyer we have in mind clearly specializes in the ins and outs of property transactions and can provide credible guidelines on what we are supposed to do throughout the whole process.
Indeed, some of us might be a little tempted to seek the services of the family lawyer, but it is better to look for a lawyer that best suits our needs.
What Is Their Rate?
Different conveyancers and lawyers have their own set of fees structures that they expect their clients to adhere to, and their pricing can vary from one to another.
Indeed, it might save you a fortune if you have a clear comprehension of the charges that you will charge during the process.
What Extra Clauses Can You Add?
When handling our purchase and sale agreements, there are a number of clauses you can opt to add in there. For example, there is the option of a finance clause which means that the offer in question can be subjected bank approval for a loan pre-agreement.
Additionally, we can also converse with our lawyer regarding specific clauses regarding certain instances that can be added into the contract to best serve our interests.
Indeed, having an early discussion 2prior to the setup can save you the numbers in terms of time when it comes to tabling an offer
Understanding the Particulars of a Unit Title Property
While purchasing a unit title property, there’s a lot of paperwork and other subtle complexities that come into play. As novices, we might find it tasking to navigate all the intricacies involved. That is why it is vital to first discuss with our lawyer regarding all the information that we are entitled to receive prior to seeking their advice and whether or not they should request any further information.
Analyzing the Purchase and Sales Agreement Before Putting Pen to Paper
As a rule of thumb, don’t, and we mean don’t, put a signature to any document before first getting the green light from the conveyancer or lawyer.
Indeed, he or she has to first critique it prior to us signing.
For we have to remember one simple thing; a purchase and sales agreement is a legally binding document and there’s no backtracking once everything is finalized.
Conclusively, purchasing a home is a massive decision both financially and personally, and we should ensure the final decision is not a mistake that we are going to regret in the long run.
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