Should I Hire an Attorney to Assist with my Residential Real Estate Closing?
Unlike in many other states, people who are buying or selling a home are not required to have an attorney present at a real estate closing. This is not to say, however, that it is not a good idea to have an attorney thoroughly review the transaction in which you are about to enter, especially as many real estate deals involve hundreds of thousands, if not millions, of dollars. Some of the reasons that it is advisable to retain an attorney before closing on a piece of real estate are detailed below. For specific information regarding your case, call the Dickson Frohlich today at 253-572-1000.
Your attorney is the only party that is “on your side” There are many parties to a typical real estate transaction – the buyer, the seller, real estate agents, the title company, or mortgage lenders, all of whom have a particular interest in a transaction going a certain way. Unless you have signed an agreement with a real estate agent as a client, no one involved in the transaction is required to have your interests in mind. When you retain an attorney to review your real estate transaction, he or she has ethical duty 1 to ensure that your best interests are represented and will not omit or minimize the relevance of issues that may have a significant impact on your position after the transaction is completed.
Real estate transactions involve complicated legal documents Another significant reason that it is beneficial to have an attorney’s estate attorney’s assistance in a residential real estate transaction is that the documents at issue can be difficult for those without legal training to understand. The documents include titles, deeds, lender contracts 2, and purchase agreements. A thorough review of these documents is necessary to ensure that you are not subjected to unpleasant surprises at a later date. Contact a Seattle real estate lawyer today to discuss your situation Individuals and businesses that are considering purchasing or selling real estate should retain legal counsel as soon as possible. For a 15-minute phone consultation with one of our Seattle real estate attorneys, call the Dickson Frohlich today at 253-572-1000 or send us an email at [email protected]