Why Residential Real Estate Transactions Require Legal Services

The sale or purchase of a home by the average person is usually the financial transaction of a lifetime. Legal obligations are involved from negotiating and signing a proper purchase and sale contract, examination of the title, evaluation of the importance of any title defects, possible refusal of one party or the other to comply with the contract, down to the closing statement, delivery of documents and recording of the deed and other papers.

Each buyer or seller should be represented by an attorney, be fully informed and know the answers to questions such as these.

  • Does the sales contract to be signed by buyer and seller cover every matter desired or contain any clauses that might work against them?
  • Will the property be the same at time of transfer as it was at contract signing?
  • Has a survey of the property been made and is a complete detailed and accurate plat available?
  • Is Title Insurance available and/or necessary?
  • Are there any title problems or defects? How important are they? Will they affect your title to the property? Will you be able to sell the property?
  • Are possible assessments, liens, easements, or restrictions known?
  • Are there zoning requirements? How do the restrictive covenants affect your use of the property?
  • Are all funding, pay-off and closing details under control? Are the closing documents properly prepared?
  • Does the attorney participate in every step of the transaction?
  • Does the attorney personally discuss and counsel with the client about his needs and problems, and all details of the transaction?