It’s a common misconception that only “rich people” who are involved in high-value real estate transactions need to hire an experienced real estate attorney as buyers’ counsel. After all, there are hundreds of websites online telling you how easy and foolproof it is to do everything yourself, right? In truth, there are a lot of small details that can turn into huge problems as you move forward if you’re not aware of them, or you don’t fully understand what they will mean to your transaction, going forward. Purchasing real estate of any kind, and at any value, is a significant investment, and it’s a wise move to give yourself the best protection possible against avoidable problems.
Get The Answers You Need To Protect Your Own Interests
In any real estate transaction, the lender will have their own attorney, and the seller may, too. The title company/closing attorney is a neutral party, and they’re not allowed to advise either buyer or seller. Hiring buyers’ counsel means that you have a legal advocate to answer your questions about your own interests in the transaction, point out potential issues, and to help you negotiate terms that work for you.
Experienced Help With The Reams Of Paperwork
Real estate transactions involve a daunting amount of paperwork and a dizzying amount of information. Even if you’re an experienced buyer, it’s always a good idea to get a second set of eyes on the details. If you’re a new or less-experienced buyer, you’re going to have questions about the paperwork outlining your rights and responsibilities, and the details of the property you’re buying. For many people, buying real estate is the most substantial investment they’ll ever make, and ensuring that investment is a sound one means going in with a full understanding of everything they’re agreeing to.
Avoid Surprises Like Encumbrances Or Use Restrictions
While the title company will research the property title for liens and encumbrances like easements, they will ultimately issue a title insurance policy that lists those liens or easements as exceptions: Items which will not be covered by your title insurance policy. Your buyers’ counsel will review the title search, and advise you of anything that might affect your financial investment, your planned use of the property, or your enjoyment of that property. In many cases, buyers’ counsel can help you resolve or object to any title issues they find, requiring the Seller to resolve the problems before closing, so you can take ownership with full confidence that you’re not going to get hit with an unwelcome surprise after the deal is done.
Reassurance on Closing Day
Whether you’re financing your purchase or paying cash, you will have documents to sign on closing day. Your buyers’ counsel will review the closing documents, such as the Deed and Closing Settlement Statement, to confirm all of the information is correct before you get to the closing table. Not only will they ensure the documents are correct, your buyers’ counsel will ensure the closing fees are accurate and discuss vesting options for holding title to the property.
Buyers’ Counsel On Your Side In Kissimmee
If you’re buying property in Kissimmee, St. Cloud, Celebration or the surrounding area, the experienced real estate attorneys at Overstreet, Miles, Cumbie & Finkenbinder can help you manage the details of your purchase and protect you from pitfalls. Give us a call or contact us online for a consultation, and learn more about how hiring buyers’ counsel protects your investment and your peace of mind.