When selling a house, there are mounds of paperwork that need to be reviewed meticulously to ensure your rights are safeguarded and no problems arise in the future. Spending an extra amount to ensure the process is done correctly is a prudent choice.
Here’s how a real estate lawyer can help you sell your property:
Step 1- Terms and Conditions
Before setting a contract in place, a real estate attorney can help you draft and review the terms of your sale and review a listing agreement to ensure that the words are in your favor. A real estate attorney will go over the daunting paperwork with a keen eye for detail, looking for any mistakes and ensuring the protection of your interests. The terms of the agreement are then turned into a formal contract. The attorney guarantees that this contract protects their client’s interests and ensures that state laws are followed. In many cases, they offer advice on several issues, such as retaining the right of first refusal on a future sale, reserving one or more interests in the land for sale, or imposing a development-limiting covenant.
Additionally, real estate attorneys review buyer offers and help in identifying any red flags or tax benefits.
Step 2- Signing the Deal
Once a signed contract is in your hand, the second phase of legal work begins. Your real estate attorney will audit titles, mortgages and transfer documents, draft contracts, write the deed, and check the final breakdown of settlement funds at closing. Real estate transactions commonly include standard structures that your specialist will be personally acquainted with, so you can rely on them to lead dealings and speak with buyers on your behalf.
Working with a real estate attorney provides an additional degree of investigation throughout the process, ensuring the arrangement closes effortlessly and that no legal issues arise in the future.
Step 3- Final Amendments
The buyer’s lawyer will then look through the title to ensure everything is as decided. If any discrepancies arise, your lawyer will take the lead and resolve the problem, whether minor or significant.
Once the buyer’s lawyer gives the green signal to go ahead, your attorney will draft the deed that transfers your property to the buyer. This is usually done by updating the deed’s language and making other necessary amendments. If your property has improvements, your attorney will ask you to sign a mechanic’s lien waiver. This ensures that everyone who worked on the property has been paid or will be paid before the deal closes.
For reliable and experienced real estate agent services, connect with Phillip Fehler, a Broker of Fathom Realty, today! With his unparalleled real estate services in Fayetteville, NC, Phillip can help you decode the jargon throughout the selling process and all you’ll have to do is “sign here.”