DO I NEED A LAWYER… REVISITED

July 8th, 2009

During the July4th holiday I had a conversation with a dentist who was contemplating the purchase of a home when he asked me perhaps the question I am asked the most … Do I need a lawyer to purchase my house? I have posted on my blog about my theory before but I am compelled to speak of it again

Generally, buying or selling a home is the largest financial transaction of one’s life. These real estate transactions give rise to a number of legal questions that a lawyer with real estate background and experience is best equipped to answer.
ONLY a lawyer and NOT a lender, title company, or a real estate broker or real estate agent, can give you legal advice.
Even an agent who represents only you, and not the opposing side, has a financial interest in seeing the deal go through. You hope that experienced, reputable agents won’t let this interfere with their advice to you, BUT it may cause new or less scrupulous agents to insist that you’ll never get the house unless you bid high, to recommend home inspectors who make light of potential problems, or to otherwise compromise your interests.

Throughout the process, the Buyer’s and Seller’s interests can be in conflict with each other, and with any professionals involved in the sale. The broker commonly serves the Seller, and the lender is obtained by the Buyer. Neither knows how to provide legal guidance.

Seeking the counsel of a lawyer is a very good idea from the start of the real estate matter until the actual closing. Of course transactions can proceed without an attorney but as I mentioned to the dentist, when a person gets a cavity would you recommend that they attempt to drill their own tooth?

Call me before you sign anything with your legal questions regarding any areas of real estate.

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