Why use an attorney in real estate transactions?
It is said that for most people, the biggest asset they will ever own is their home. Real estate transactions with contracts and legal obligations can be difficult to understand from the very beginning. From the time a real estate agent shows you the home to the final closing there are agreements, amendments, riders, disclosures, title commitments, and so on.
A real estate agent fulfills their purpose by showing you the properties and negotiating the purchase price, but they are not permitted to give legal advice. A real estate agent is only permitted to provide pre-approved forms but cannot legally advise you on your rights and obligations under the terms of those forms.
If there is a problem the agent is not legally permitted to provide you with your options in how to resolve that dispute especially when the other side wants to force you to continue with the real estate purchase. Keep in mind that, in Missouri, your agent is permitted to receive a share of the commission of the sale. Thus, the realtor only gets paid after you have purchased the home.
It is important that when you are evaluating the offer and its terms, the purchase contract, the home inspection, and all the other documents that you have advice that is about what is best for you and not just what will close the sale.
Finding the right law firm is important
Joshua Neally has advised clients in the process of buying a home from start to finish. Buying a home or land is complicated. It is good to have the peace of mind that comes from an experienced lawyer helping you through the process, working to fix issues and resolve disputes in a way that has your interest as number one.
If you are thinking of buying a home or anywhere in the process and have questions or concerns, call Neally Law and see how we can help you. We can also help if you become involved in real estate litigation.