WHEN YOUR DREAM [HOME] COMES TRUE:Jul 2 2015
WHY YOU SHOULD USE A LAWYER TO HELP YOU WITH YOUR REAL ESTATE TRANSACTIONS.
After weeks – possibly even months – of looking, you’ve found the home of your dreams and you’re ready to buy. But before you sign on the dotted line, it’s important to take a few moments to consider all the potential issues that might occur and ensure that you’ve done all you can to mitigate them.
Most people don’t anticipate anything going wrong during a home purchase but it’s important to note that a real estate transaction is not as simple and straightforward as we like to think. There are several areas where issues can arise that can lead to all kinds of legal, financial and emotional difficulties. The services that a lawyer offers before, during and after the transaction can save everyone time and money down the road. A home is one of the most important assets you’ll ever own and it only makes sense that you would want to take every precaution to protect it and those who will be living in it for years to come.
Why should you consider using a lawyer for real estate transactions?
While it’s true that a notary public or some smaller real estate conveyance law firms can assist you with a home purchase, a full service law firm like RDM Lawyers LLP will be able to represent you in a court of law and get involved in litigation – two critical areas of knowledge and training that would be needed should things not go as planned.
Sometimes it may be critical to engage the services of a real estate lawyer. For example, a member of the RDM real estate team can:
- Help if your real estate deal doesn’t close on the approved closing date.
- Assist you, as a seller, if you get a better offer after you’ve already accepted another lower offer.
- Explain and handle matters if the home you are buying or selling is occupied by a tenant.
- Help you understand when a Right to Purchase should be used and when an Option to Purchase should be used.
- Handle instances when vendor take-back financing – where the seller offers to lend the buyer money to facilitate the deal – is being negotiated.
- Help you handle the legal and financial fall-out if your dream home turns out to be a mansion of horrors and the deal collapses.
You may also need a lawyer if you’re looking at making changes to your home insurance policy. A lawyer can advise you on certain coverage areas where you may not be aware of modifications, cancellations or exclusions. Also, don’t forget to update your will after you’ve made a home or property purchase since the purchase becomes part of your estate.
To ensure your property acquisition plans are consistent with your estate and succession plans and to help you avoid any potential litigation matters during a real estate deal, consider engaging the professional real estate services of RDM Lawyers. Think of it as protecting both you and your dream home.