What Does A Real Estate Attorney Do For A Seller

From the time a contract is signed to the closing, real estate attorneys assist with home sales. An attorney for the seller reviews sales contracts and communicates terms professionally. They also attend closings to avoid any mishaps.

Selling a house is complex and requires familiarity with all applicable laws. A lawyer can help you protect your assets and investment while also ensuring that you are legally conducting the transaction. This can save you money in costly mistakes.

Many states require real estate attorneys. However, even if an attorney is not required for selling, it's a good idea.

Are There Any Real Estate Attorneys That I Can Use To Help Me Sell My House?

Attorneys are required in 21 states and the District of Columbia as part of closing processes.

These are the states where attorneys are required:

• Alabama

• Connecticut

• Delaware

• District of Columbia

• Florida

• Georgia

• Kansas

• Kentucky

• Maine

• Maryland

• Massachusetts

• Mississippi

• New Hampshire

• New Jersey

• New York

• North Dakota

• Pennsylvania

• Rhode Island

• South Carolina

• Vermont

• Virginia

• West Virginia

It is a good practice to have a lawyer represent the other side in your transaction and support their best interests.

Can I Sell My House Privately Without A Lawyer?

Regardless of whether you are selling your house on your own or working with an agent, you must use an attorney if you reside in one of the above states.

It's your decision whether you are selling on your own or if you live in a place that requires a lawyer to assist you. You can make your own decision about whether you need the assistance of a lawyer.

How To Find A Real Estate Lawyer

Many sellers consider real estate lawyers indispensable. Legal guidance can be a boon for sellers who have so much to lose and lots of paperwork. Even if you don't have to hire an attorney in your state, there are some special situations where one is recommended.

• Lien:

  An attorney can help you resolve any outstanding liens and get you on the right track to closing. They can also communicate with title companies to ensure that all lien holders are paid properly.

• Joint Sale:

  If you're selling a house with someone else than your spouse, an attorney will help you protect your best interests. An attorney for each seller ensures that both party's interests are prioritized.

• Short Sale:

  Your lender may agree to let you sell your house for less than what you owe. There are additional hoops to go through. A lawyer can help you navigate these complexities.

• Estate Sale:

  If you inherited your home, an attorney could help you sort out ownership documents. This is especially useful if you are grieving the death of a loved one.

How To Find The Best Real Estate Attorney

Finding the right representative is crucial for any professional relationship. These are the ways that sellers can find their real-estate lawyers.

Referrals

• From Your Agent:

  Experienced agents often have a list of recommendations of lawyers they regularly work with. You may be able to get a referral from an attorney who is an expert on your particular type of sale.

• A Friend:

  Request colleagues, family members, and friends of people they know who used their home for sales.

• Based On Past Experience:

  You can always call the attorney that you used to purchase the house.

• Online Reviews:

  You can find a lot of reviews online, even from lawyers. You can find reviews about the real-estate lawyer that you are interested in by visiting Yelp, Google, or other review sites.

What Is The Cost Of A Real Estate Lawyer?

The amount you pay for real estate lawyer fees will depend on the market and how involved they were in the transaction. However, they usually charge a flat rate between $800 and $1,200 per transaction. Hourly rates can range from $150 to $350 for some attorneys.

Do I Need An Agent/Broker If I Have An Attorney To Sell My House?

Your ability to manage all aspects of listing, marketing, and showing will determine whether you require an agent or broker. An attorney can help you to minimize stress and take the burden off of your shoulders when selling by owner (FSBO). A lawyer will not do the work of attracting buyers or providing market-specific advice.

Remember that a home sale can involve many professionals, not just a lawyer. These are some of the most popular:

• Agent/Broker:

  Their job is to list your property on the MLS and find a buyer. They also facilitate the transaction.

• Inspector:

  Hired by the buyer, the inspector's job is to inform the buyer about any repairs that might be needed. Sometimes, sellers hire an inspector to conduct a pre-inspection before they put the house up for sale.

• Appraiser:

  Hired by the buyer (or their loan officer), an appraiser makes sure that the buyer doesn't pay more than the fair market value of a home.

• The Title Company:

  A representative of the title firm is responsible for underwriting title insurance and transferring clean title to the buyer.

• Escrow Officer:

  An escrow officer, agent, or manager is a third-party representative who holds funds during a transaction and ensures that each party is paid the correct amount at the closing. Sometimes, escrow officers are employed by title companies to blur the lines between who is paying what at the closing table.