For the best deal one can get when selling a home, one should not just get a real estate agent. While the agent does provide a lot of help in looking for the right buyer and negotiating the price, having a lawyer on one's team will provide additional benefits.
Not all states require a lawyer for closing a real estate deal but getting one is highly recommended. Having a lawyer on board ensures that your rights as a seller are protected.
A lawyer will provide invaluable help in reviewing the legal forms and documents, especially those that one will need to sign. He will also check that the title is clean and that there are liens against the property. If there are issues with the title, correcting them will be easier.
Aside from the title, the lawyer will also review the terms of the contracts and the binder. He will also be responsible in preparing the purchase agreement. The chances of the negotiations on the terms of the agreement will be in one's favor is higher with a real estate lawyer on one's side. Consultation with the lawyer on offers and counter offers is also essential since these have tax implications.
After the negotiations are done, the lawyer will also take care of all the items needed to close such as the transfer of the security deposits and for the insurance certificates. He will also be expected to attend the closing as well. In fact, most closings are done in the real estate lawyer's office.
Hiring a real estate lawyer is well worth the fee one will be paying. The fact is, his help in paperwork will prevent lawsuits. In transactions, the seller is the one at risk. During a lawsuit, the buyer can file to freeze the home from being sold or refinanced by the seller.