Buying or selling a home, condo or cottage is always a hectic time, and the various expenses can add up in a hurry. While there are some things that you can easily DIY to save money, such as home staging or repairs, managing the legal issues and documents around your sale or purchase shouldn’t be one of them. Even if your real estate transaction appears to be very straightforward, there are clear benefits to hiring a real estate lawyer. After all, you’ve seen the TV home shows and heard stories of property purchases that went from bad to worse in a flash – most of which could have been avoided if a real estate legal team had been on the case. For this reason, we’ve outlined the top 5 reasons why retaining the services of a real estate lawyer is always worth it:
- Examine documents
All home or cottage sales and purchases involve a lot of paperwork, and not just any paperwork…legal, technical paperwork. Documents such as your Purchase Agreement, conditions, waivers and so on will be carefully examined and edited according to your wishes, rights, and responsibilities. What many buyers and sellers aren’t aware of is that sometimes the Purchase Agreement is prepared by a realtor or clerk who may not have the expertise to draft such a unique, legal document, or they’ve “repurposed” old agreements without detailing your specific circumstances.
- Research & investigate
A real estate legal team knows exactly what to look for regarding property sales or purchases. It’s their job to research all and any issues; some of the most popular investigations surrounding:
- Liens or title concerns/fraud
- Environmental or protected lands liens on the home or property
- Past and present surveys
- Access, property boundaries, shore road allowances, and encroachment concerns
- Water and sewage requirements
- Property taxes and arrears
- Behind the scenes
There is so much more that your attorney does for you that often goes under the radar. For example, they will work with your lender to sort out and finalize the finances, they connect with the other party’s legal team, and of course work with the real estate agent(s). They know exactly what to inquire about, what inspections, forms, and documents are needed, and who to speak to in order to get the job done.
- Closing time
There is so much more to a real estate close than just signing documents and getting – or handing over –the keys. In the days leading up to the closing date, your real estate legal team is busy making sure all documents and finances are prepared and that legal issues are addressed – and on schedule. They will explain your closing expenses, as well as secure your mortgage funds for you – saving you a trip to the bank and valuable time! Once the finances are looked after and documents are signed, they will transfer the title to the new owners, and finalize any other concerns, and then hand over those keys.
- Looking after you
It’s also important to note that a real estate lawyer has your best interests at heart and is there to represent you. They don’t have a financial stake in your property purchase or sale; whether it’s valued at $150,000 or $15 million, their sole job is to protect you and your investment without bias and ensure the process is legal and runs smoothly. It’s very comforting knowing that your rights and interests are protected when you hire a real estate lawyer. If you’re thinking of buying or selling your home, condo or cottage here in Muskoka, be sure to connect with Ares Law. As a highly trained, full-service real estate team with over 22 years’ experience, we’ve got you covered. Your real estate transaction is a big deal…financially, personally and legally, which is why you need to ensure you’re in good hands throughout the process. When you’re looking to hire a real estate lawyer, find out more about us and how we can be of service to you! Call us today at 705-645-8743 – we look forward to meeting you!
