Buying or selling a home will probably be the most important financial decision you will make in your lifetime. It should be a happy and rewarding experience. This pamphlet will provide you with general information about the basics of buying a home and will help you understand how a lawyer can assist you with the complicated legal issues involving the transaction.
The main rule in approaching the purchase of a home is that you not sign anything until your attorney, who is the person trained to advise you, has reviewed and explained everything to you. By fully understanding the documents, you will be able to make informed and intelligent decisions.
What Expenses are Involved with Buying a Home?
- Cost of examination and services
- State and local transfer taxes
- Adjustments for property taxes and other items already paid for by the seller
- Tax Prorations
- Charges imposed by the institution providing the mortgage, including "points" and fire and homeowner's insurance
- Recording costs for the deed, mortgages and any other required filings
Why Do I need a Lawyer for my Real Estate Purchase?
We should participate in all phases of the real estate transaction to help you in dealing with the other people involved. We will explain to you the different phases of the transaction. There are many times when legal documents are prepared by the real estate agent. Remember, the agent does not represent you. Only your lawyer is ethically and legally bound to give you objective, unconflicted advice and loyalty in the transaction. Any document requiring your signature should be reviewed by us, your attorney. This is true regardless of what the document is or how it is described to you. In some instances, your lawyer may also provide additional services.
