real estate

Buying or Selling Real Estate: Why You Need an Attorney

Real estate transactions can involve hundreds of thousands of even millions of dollars. For many people, the purchase or sale of a home will be the largest financial transaction into which he or she will even enter. For this reason, if you are considering buying or selling a home is advisable to retain a real estate lawyer to represent your interests and assist you in the process. There are many ways that a lawyer can help both buyers and sellers, some of which are discussed below.

An Attorney Will Review your Purchase Agreement

Every real estate transaction will involve a contract that describes the transaction as well as the rights and responsibilities of both the buyer and the seller. While standard real estate purchase agreements are available online, these will rarely, if ever, adequately address all of the issues involved with the purchase or sale of a particular parcel of real estate. Any issues with the purchase agreement could be financially disastrous for either buyers or sellers, so it is important to a have an attorney review your purchase agreement before you sign it.

Your Lawyer Can Uncover and Explain any Issues with the Property

Many pieces of real estate are subject to encumbrances such as easements or restrictive covenants. These can significantly affect the value of the property and may come as a significant surprise to buyers at a later date if you are not aware of their existence before the sale. An attorney will evaluate the property for the existence of such issues and advise you as to what they mean and how they may affect your use of your property and its value.

An Attorney Will Represent Your Interests

Perhaps the simplest and most important reason to retain an attorney when you are engaging in the purchase or sale of a home is that a lawyer will represent your interests. A real estate transaction often involves significant conflicts of interest between the buyer, the seller, and even the professionals that are involved in the transaction. An attorney will ensure that your rights are protected and that you are fully aware of the nature of the transaction into which you are considering entering.

Call 732-422-1000 today for a consultation.

If you are considering putting your home on the market or are looking to buy, you should speak with a New Jersey real estate attorney as soon as possible. With over 50 years of experience, the lawyers of Borrus, Goldin, Foley, Vignuolo, Hyman & Stahl, PC are qualified to represent both buyers in sellers in all types of real estate transactions. For a case evaluation, call us today at 732-422-1000 or send us an email through our online contact form.