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Why you should work with an attorney when buying a home

When you're ready to buy a home, you may not think that you need an attorney's help, but that couldn't be further from the truth. There are many legal steps to purchasing a home, so having an attorney at the ready can be of major assistance.

You will need to enter into a formal contract with the seller of the property you'd like to purchase. At first, this contract will be informal with negotiations going through the broker. After the informal agreement has been reached, the formal written contract is created. It's at this point that your attorney can be of assistance.

Your attorney can help you review the contract and decide if it's worded correctly. It should have information on making the purchase provided that you can obtain a mortgage, for example. The closing of a home is usually conditioned on you obtaining financing, so if you can't get financing, then you would not want to be bound by the contract. Not all contracts have this clause, which is something to be wary of.

There may also need to be additional stipulations added to the contract before you make a purchase. Your attorney can help you negotiate the contract and change it legally. Your attorney can also help you understand what happens in the case that you find the home is infested with termites, you discover hazardous waste on the property or have found unlawful alterations performed on the property.

The point of working with an attorney is to cover all your legal bases, from learning about tax implications to verifying the legitimacy of a contract. Your attorney can help walk you through important legal matters that may surround your purchase.

Source: FindLaw, "Why You Need a Lawyer When You Buy or Sell a House," accessed Jan. 10, 2017

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