Why Hire a Real Estate Attorney

Why Hire a Real Estate Attorney

When selling or buying a home there are a lot of factors and paperwork to keep in mind. It is a complex process that you have to be on top of, and it requires focus to do so correctly. One aspect of purchasing property can include hiring a real estate attorney Rockford IL. While a real estate attorney isn’t legally required in the state of Illinois, it is advisable in many cases to ensure you are properly advised and, in certain situations, having legal assistance makes the entire process much easier.

You may hire a real estate attorney for a basic home sale simply to ensure everything is done properly, because selling and buying real estate is a large investment, and you want to make sure it is done properly. There are also unique situations where having a real estate attorney is a good idea even when it is not legally required.

Reasons To Hire a Real Estate Attorney

  • Joint Sale: if you are selling a home that has two owners and the other owner isn’t your spouse, a real estate attorney can help by keeping both your interests and the interests of your co-seller in mind. A real estate attorney helps keep the process fair and agreeable for all involved parties.
  • Liens: if there are liens on a home you are attempting to sell, a real estate attorney can help. They can help manage the process and communicate with your title company to ensure everything is properly handled, and all liens are paid and clear.
  • Estate Sale: when you inherit a home, it can be complex. In addition, because inheritance involves the loss of a family member, you may not be in the right mindset to handle such an involved matter. A real estate attorney can help organize the sale process, collect the proper documentation, and manage the process for you while you deal with more important matters.
  • Short Sale: a short sale is complex because of the financial aspects it involves. This involves your lender approving a sale for less than what you owe on the mortgage. A real estate attorney can help this sometimes complex process run smoothly.

Finding A Good Real Estate Attorney

Like hiring any other professional, you want to ensure that the real estate attorney you are looking to hire is someone you can depend on. There are several sources of information you can use to make an informed choice when hiring an attorney. Some sources of information can include your real estate agent who is likely to have a lot of experience in this area.

Friends or family who have sold or bought property in the past. Also, if you have bought or sold property before, you may want to work with an attorney you worked with in the past. Finally, you can also make use of online reviews to find a Real Estate Attorney with a strong history and track record of success.

Final Thoughts

The buying and selling of property are often the largest financial transactions you will make. They are involved and have a lot of moving parts. You want everything to go smoothly and without any complications. A real estate attorney can help you with the advice and experience you need.