Residential real estate transactions are stressful and intimidating. For these two reasons alone, you should have a residential real estate lawyer with you when either buying or selling a home. Aside from these two reasons, we have put together a list of the top three signs why you will need a residential real estate lawyer in New York.
Too Many Documents to Review
One of the first signs that you will need a residential real estate lawyer is that there are too many documents for you to review on your own and understand. A residential lawyer will be able to examine all of the documents, explain the terms and advise whether or not you should sign them.
Need to Back Out from a Contract
The second sign that you should work with a residential real estate lawyer is that you need to remove yourself from the contract. There can be a multitude of reasons for this, but a common one is that the inspection of the house failed. A residential real estate attorney will be able to edit the contract language that helps you void the deal so it does not move forward.
A Lawyer is Required
In some closings, the mortgage or title company will require that a residential real estate lawyer in New York be present. Because of this, you must have a lawyer at the table with you when closing the sale or purchase of the residential property.
As you can see, buying or selling a home can be a difficult task to undertake on your own. This is why you should have a residential real estate attorney on hand to help you sift through all of the documents before and during closing.