We're just beginning our home buying journey, just spoke a realtor, starting to look at homes at this week, etc.. Very early in the game still. At what point should we get a real estate attorney? And what should we expect from one? Do they walk you through the fine print, can I expect him/her to be available to answer any questions I may have? Or are their services limited to just the closing? Please feel free to offer any additional information in regards to a real estate attorney and what their job includes.. Thank you.
When you place an offer on a house, you will sign a contract which is OK to sign because in the contract will be a contingency meaning, that the contract will be null-and-void unless approved by your attorney, and usually also needs to pass (to your satisfaction) a home inspection. You will put in a bid to buy the house usually a little below the asking price. Usually anything wrong with the house can be used as a negotiating tool you can mention was the reason you are offering a lower price. Also it is a good idea to ask the realtor if they can represent you as exclusive buyers agent since in this way you get inside information. If you are in the Upstate NY area I could do it for you since I am a licensed Realtor! It costs the same as if you were just buying a house from a seller's agent. But yes when you have signed a contract you will send it to your attorney long before the closing so they can review it for you! Good Luck!
Kim gave it to you in a nutshell-- and the Loanmaster expressed his Grand Mastery--take heed and Good Luck-- and make sure there are no other hidden liens and encumberances on the property before you close. Sometimes the previous owner will take a loan against the property just before they move out and the paperwork has not yet gone into records and this may not get noticed until you have already moved into the house and then later--are notified and demanded to pay for something you didn't know about
