The purchase or sale of a home is one of the largest transactions a couple or individual will make in their lifetime. If you are buying or selling a home with complicated terms, are dealing with short sales or foreclosures, or if you are a real estate investor in need of counsel, consult a real estate attorney to review your contract(s), negotiate terms, and ensure you understand the transaction.
The Complexities of Real Estate Contracts
Real estate contracts can be somewhat perplexing, particularly for first-time homebuyers or those without a legal background. Both residential and commercial real estate contracts comprise various steps and procedures about which you might wish to consult a lawyer, such as:
- escrow and taxes;
- following the steps necessary to replace any lost or missing documents;
- subdivision of property;
- reviewing the deed and mortgage loan;
- owner-financed transactions;
- loans and foreclosures;
- negotiating prices;
- seller’s liability for repairs after closing;
- purchase and sale agreements;
- drafting or revision of leases; and
- exiting contracts when defects or discrepancies are found.
Do you need an attorney, or will a real estate agent suffice?
Many people assume that their real estate agent will be able to prepare the purchase or sale contract. However, real estate agents are limited to standard form contracts and do not provide legal advice on terms of sale, property conditions or remedies.
It’s important to know exactly what you’re agreeing to when you sign a real estate contract. You will be bound by the law to uphold the contract once you sign it. Therefore, it’s best to consult an attorney proficient in real estate law to help you navigate transactions, rather than rely solely on an agent with minimal training.
In fact, having an agent and an attorney work in tandem on your behalf can be a cost effective way to facilitate fair and advantageous real estate transactions with a piece of mind that your rights and best interests are being protected.
Consulting a Real Estate Contract Attorney in Everett, Washington
If you are dealing with any sort of real estate contract or transaction in Everett, WA, call our team at Deno Millikan, a firm with over 40 years background in helping client with their legal needs.
Contact our office today at (425) 259-2222 to schedule an appointment, and let’s determine if our services match your needs.