In today’s world of Internet “How To’s” and easily accessible DIY tips, it might be tempting to try to go it alone and skip out on hiring a real estate lawyer to look after your home purchase or sale transactions. However, unless you have solid legal or financial real estate experience and a very straightforward transaction to deal with, it’s rarely ever worth it to skip out on working with a real estate law team.
If you’re pondering why you should retain the services of a real estate lawyer for your next home, cottage or condo purchase, we’ve put together some compelling reasons that should help you make your decision. After all, buying or selling property is one of the biggest financial and personal decisions we ever make, so it’s important to ensure that it’s done expertly and on time.
- Super sleuths
Your real estate law team is made up of expert investigators. They don’t just review your documents and agreements, they go deep into research mode to uncover all and any information about your home or cottage property. They are tasked with finding out any issues and alert you accordingly. For example, they will look for and report on any concerns around:
- Liens
- Title issues or fraud
- Environmental or ecological issues or protections
- Land surveys
- Cottage concerns such as encroachment, shore allowances, general/winter access and so on
- Water or sewage issues
- Master document drafters
Legal documents are, well…complicated! There is a specialized writing style that can trip up a lot of people, and frankly, a lot can get overlooked if not done properly. Your home purchase or sale is a legal transaction, and naturally has specific requirements that need to be addressed. It’s the job of your real estate lawyer to draft, review, revise and scrutinize every document, not just the purchase agreement or waivers. While your realtor may be very reputable or experienced, they may have overlooked or omitted important details if they drafted up the agreement – so be sure to have a trained, second set of eyes on such an important document.
- Keen negotiators and liaison experts
Your real estate legal team works closely with various other parties involved in a property transaction. Did you know that they work with your bank or mortgage lender to finalize/sort the financials? They will also liaise with the other party’s lawyer as well as with the realtors involved to make sure all bases are covered. If they see or hear something that doesn’t align with your best interests, they will address it and advise you accordingly.
- Closers with clout
The closing of any real estate transaction is always a big deal. Money, deeds, titles, and keys need to be exchanged in a specific, timely manner. Your legal team will guide you through the process, explaining what needs to be signed…when, and by whom, as well as outline your various closing costs and what you can expect during this time. Every sale or purchase of a home, lot, cottage, or condo is unique, so there’s no ‘cookie-cutter’ way to do it. Trust in your legal team to ensure your closing runs as planned.
- Unbiased, professionals looking out for YOU
Your real estate legal team is ethically and legally bound to represent you and look after your best interests. It’s not their job to consider the needs of the other parties, real estate representatives, surveyors, inspectors, or even the lenders. Their only concern is you, their client. They will represent you in an unprejudiced, supportive manner and make sure they’ve done their job thoroughly.
Here at Ares Law, our real estate team is not only experienced, reputable and knowledgeable, but we’re also local! We understand the unique real estate issues in this area and there’s no challenge we can’t handle. When hiring a real estate lawyer, connect with our Parry Sound office today at 705-746-6444 and make an appointment. You’re always in good hands with us.
