Buying a home could be one of the most significant investments you will make, so it’s vital to ensure that everything goes smoothly. In the state of Michigan, a real estate attorney is not required in the purchase or sale of your home. So why should you use one
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Contract Negotiations
When you’re ready to offer on or sell a property, your real estate agent will present you with a contract. This contract will outline certain terms, including the price, closing date, and contingencies. A real estate attorney can review and assist with drafting all necessary legal documents, such as the purchase agreement, loan documents, and title insurance policy, and ensure you are paying a fair price. A trained legal professional looking at these documents is critical to a successful transaction.
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Navigating Complex Laws and Regulations
Real estate law is notoriously complex, and it is constantly changing. A real estate attorney can help you navigate the maze of laws and regulations and keep up with the latest changes. They can also help you understand your rights and responsibilities as a homebuyer or seller and are legally obligated to act and protect your best interests.
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Handling Disputes
If a dispute arises, an experienced real estate attorney will provide advice on how to approach the situation best, review any relevant documents or contracts, and may even represent their clients in court if necessary. Usually, though, if a transaction has an attorney involved from the start, they can take preventative measures and see and resolve potential disputes before they happen.
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Closing Documents
On the day you decide to close, your real estate attorney will review the entire closing package and make sure you understand what is being signed. They will also be able to help you with any questions about the documents, ensure the correct title, review mortgage and loan information, and spot things that should be changed before you sign.
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Ensure A Smooth Transaction
Overall, a real estate attorney’s role is to represent your interests and ensure a smooth, stress-free transaction. When dealing with a significant investment like property, making sure everything proceeds is critical, or you risk a failed transaction or lawsuit. Whether you are buying your first home or deciding to sell, it is crucial to have legal counsel you can count on to protect your interests.
