You Need an Attorney(Revisted)

August 26th, 2010

I am consistently asked by Buyers and Sellers either about to enter a residential transaction or already in a residential transaction, ” Do I need a Lawyer”? I will keep my answer simple. Yes!

You are embarking on what is likely the largest financial decision of your life. This is not be the time to decide to not have a set of trained legal eyes review and guide your deal.

I have mentioned the need for an attorney before but the reality hit home as yesterday as I attended a continuing legal education course for Pennsylvania attorneys. We are required to take 12 hours of class lecture each year to maintain our license and yesterday’s all day six hour course was specifically targeted on residential real estate transactions. The coursebook was over 400 pages and the six hours was not nearly enough time to cover everything. I point this out because when I first started taking this type of course 10 years ago, it was a 3 hour course with materials under 100 pages.

The residential real estate landscape has changed and become more complex. One thing that was mentioned time and time again in yesterday’s class was that residential transactions have more and more significant pitfalls and issues and there is no way a consumer could possibly understand everything that they are about to sign which will bind them to specific legal obligations. In addition, real estate sales people are not legally trained and are not allowed to guide the consumer with legal advice.

The residential deal is complex, hire an attorney who can explain the complexities!

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