Here's how an attorney can keep your American dream from turning into a nightmare
Purchasing a home is a huge decision and one that is among the costliest a person makes in their lifetime. So it stands to reason that you would want a team of professionals looking out for your well-being. In addition to hiring a trusted Realtor, you may want to consider working with a Wisconsin real estate lawyer throughout the homebuying process. That's because there are numerous potential pitfalls in the purchase of property, and a real estate attorney can help you sidestep those headaches as well as save you money.
A real estate lawyer has your back; here's how
Here are five ways a real estate lawyer can keep your American dream from turning into a nightmare.
1. A real estate attorney can review the offer to purchase.
The purchase agreement (or offer to purchase) is a legal document that should be carefully reviewed before signing, and many homeowners could use some insider expertise to help them fully understand this big-life decision. A real estate attorney can give you peace of mind that the offer doesn't favor the seller, that you aren't giving up any of your rights and that all of the necessary terms are properly included.
2. They can identify and clarify the property restrictions
Property restrictions can be attached to any sale and put in place by a third party (like an HOA or local government), so it's important to have a legal expert review the potential restrictions. Restrictions may include requirements or limitations on your use of the property, which can impact your ability to enjoy and use your property in the ways you intend. A real estate attorney can make sure you have no unpleasant surprises.
3. They can help you negotiate
When it comes time to negotiate, most of us could use a little help, and it's especially important for first-time homebuyers. Real estate attorneys know the many ways you can add value to the contract beyond pricing, which can save you money in the long run. In addition, a real estate lawyer can make sure you have negotiated the right legal terms for the purchase of the property.
4. A real estate lawyer can help you navigate disputes and avoid scams
Real estate scams abound, and an unsuspecting buyer can easily fall victim. Disputes are also common in the homebuying process, so having the expertise of a real estate lawyer can mean the difference between a smoothly-executed purchase or a very bumpy dead-end road. Real estate lawyers can review proof of identity and other forms and documents to protect you from fraud and disputes, saving you both money and potential headaches.
5. They will make sure the title is clear and the deed is recorded correctly
It can be easy to get swept away with the excitement of purchasing a home, yet many aspects of the deal have lasting legal implications. Problems with the title to the property can result in unanticipated costs to you and your loved ones and may even compromise your right to the property after purchase. Liens, encumbrances, easements, and other issues can make the American dream of homeownership a nightmare, which is why you need a real estate attorney on your side.
Time to purchase a home in Wisconsin? A real estate lawyer is key
Life's biggest investments can offer us the biggest payback in happiness, quality of life and much more. To ensure your home purchase delivers all the promise of the American dream, you need a real estate attorney on your side.
By Brandon Prinsen, real estate attorney at Johns, Flaherty & Collins. For a real estate lawyer in La Crosse, WI, call him at 608-784-5678.