We have written in the past about the importance of having a Real Estate attorney working with you while buying a house, not just a Real Estate agent. An attorney oversees the process with an eye for the legal aspect of the transaction, making sure everything is in your favor in a way that a realtor cannot.
Working with a Real Estate attorney is also important for Title Insurance. Title Insurance helps ensure that when a buyer purchases property, they have the sole claim to ownership. It dives into the history of the property to double-check that there are no outstanding debts, claims, or ownership disputes on it that could come back to challenge your legal right to own it.
Real Estate agents sometimes note that a buyer’s Real Estate attorney can help prepare the documents for the seller as well as the buyer. This, they argue, means that sellers do not need to hire a Real Estate attorney of their own. This line of thinking could not be further from the truth.
When a seller hires a Real Estate attorney to work on their team, they are investing in someone who will always have their back. The express purpose of the buyer’s Real Estate attorney is to make sure the buyer’s interests are protected at all times. While they can do the legal work to prepare documents for the seller as well, their perspective on those documents will always be highlighting the buyer over the seller.
A Real Estate attorney can help the seller through every step of the process, from negotiations to drafting contracts to closing and beyond. They will help oversee every written contract and document that involves the seller. They will negotiate to make sure the seller is given the best deal possible for their efforts. They will make sure that the earnest money deposit is indeed being held in an escrow according to the contract.
A cautionary tale about sellers neglecting to hire Real Estate attorneys recently appeared in the Seattle Times. In the article, a seller disclosed that their basement had a leak as part of the homebuying process. After the sale had finished, the buyers sued the seller for the basement leak ruining their new carpet. The seller was advised just to pay for a new carpet because it would be much cheaper than defending their side in court. If they had used a Real Estate attorney all along, the leak would have been more firmly included in the contract and the lawsuit would not have been possible.
Sellers need a good Real Estate attorney for the exact same reason that buyers do: so someone can look out for them. At Schlegel Livingston, LLC, we can help sellers in today’s crazy Real Estate market ensure they are taken care of properly. For help selling your property, contact Schlegel Livingston, LLC today! We believe in helping you through life’s most important moments.
Schlegel Livingston LLC
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