Is it necessary to have a real estate attorney?

Real estate agents earn well, the commissions are usually high. Although the commission is paid by the seller, there are times when it is passed to the buyer. Practitioners of real estate law are also expensive so the question begs, should you use an attorney or a real estate agent when buying a home?

In most cases it requires a real estate attorney on Chicago to prepare all the documents needed when purchasing a home. These documents include the purchase agreement; perform a search of the title and closing papers. The attorney may ultimately be required but during the process it may help to have an experienced real estate agent on your side. It can prove helpful when papers are flying back and forth to have someone is very familiar with the process available. There may be inspections to make, it may be necessary to negotiate over who pays for needed repairs and more. These issues are all in a day’s work for an agent, agents are also great sources for responsible inspection firms, mortgage lenders and others who can ease the process along.

In many cases the sellers will be using a real estate agent, and you do not want that agent in control. They may profess to know real estate law and they want to represent both you and the seller in a dual capacity. Although it’s not hard and fast, it’s fair to say that the agent will be loyal to the seller as it is he who eventually will pay the sales commission. If you are going to have an agent, make the agent your own otherwise you may find your interests are not being protected or even taken into account.

Regardless of whether you engage the services of an agent or a real estate attorney on Chicago, it is in your best interest to know as much as possible about the process. Make it your business to ascertain the values of comparable properties in the area, this knowledge alone will protect you from making a bid which is simply too high for the home. It’s always a wise thing to know what the contents of real estate documents mean, when you are asked to “sign here”, you will want to know what you are signing and what the ramifications are.

When issues arise that cannot be handled by an agent, or if you live in a state which mandates the use of an attorney involved in real estate law, you may need to hire an attorney. Agents may very well know all there is to know about the negotiating process but there are legal issues which are far beyond their scope and for this reason alone it is wise to use a real estate attorney on Chicago when you are buying or selling a home.

Contact Starr, Bejgiert, Zink & Rowells to schedule a consultation. We look forward to providing you with the trusted legal services you can depend on for your legal concerns.

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