what is a lawyer that helps you sell your house

Why should you hire a lawyer in selling a house?

 · You need a real estate lawyer if you’re selling in a state where it’s required by law. Each state that requires sellers to lawyer up does so for different reasons, but the ultimate aim for all is to protect the integrity of home sales in that state. The states that require you to use a real estate lawyer are: Alabama.

Do we need a real estate lawyer for buying a house?

 · After you sell a house, you might have to deal with taxes. It is important to have a clear picture about these taxes in your mind. The property lawyer will be able to help you in …

Do you need a lawyer to sell your house?

 · A real estate attorney will help navigate the selling process to make sure you are within your legal rights. They will also defend and protect you if you are one of multiple …

What does a real estate attorney do for a seller?

 · Buying or Selling a House? An Attorney Can Help. A broker generally serves the seller, and the lender is obtained by the buyer. Both want to see the deal go through since that …

How much does a real estate attorney cost?

Real estate attorneys cost $150–350 per hour, and usually bill in six minute increments. Or, they may charge a flat fee for certain services. Costs...

Should I use a real estate attorney if I'm selling FSBO?

Unless you're an experienced seller, you should hire a real estate attorney to prepare the purchase agreement and other documents when you sell FSB...

How do I find a real estate attorney?

A great real estate agent can refer you to a great real estate attorney. You can also find real estate lawyers through professional organizations l...

What can a real estate lawyer do?

A real estate lawyer can help you understand your rights as well as your tenants’ rights, and help protect you from litigation.

Why is a real estate attorney important?

A good real estate attorney provides a backstop for your real estate agent, finding loopholes in the purchase agreement, saving you money with contingencies, and maybe even insulating you from lawsuits years down the line. Let’s go over some of the situations where hiring a real estate attorney is a good move, the responsibilities ...

Can a real estate agent handle a home purchase?

Usually a great real estate agent can handle a home purchase, but in these situations you may want to consider using a real estate lawyer:

What is clever free agent match?

Clever’s free agent-matching service is a great way to find agents that specialize in sales like yours. With Clever, you’ll be able to interview multiple agents until you find the perfect fit for your sale AND you’ll only pay 1% or $3,000 in listing fees!

How much do real estate attorneys make an hour?

Real estate attorneys are paid by the hour — market rates are between $150 and $350. You may be able to negotiate a flat rate, or a cap on the number of hours they work on your behalf.

Can an attorney advocate for you?

You’ll want to try to secure the best terms with the lender . An attorney can advocate for you in either situation.

What to do if the owner of a trust has a trust?

If the owner did set up a trust, find a probate attorney with experience handling real estate in trusts. The attorney can help you understand and abide by the trust, and confirm it’s your right to sell the property.

What is the job of a real estate attorney?

The job of a real estate attorney is to negotiate and make a transaction come together in a peaceful manner that’s fair and amenable to all parties. A real estate attorney takes over after the selling price and terms have been established by the real estate agents in the contract and all parties have signed.

Which states require a real estate attorney to be present at closing?

These include 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, and West Virginia. Keep in mind that these rules can vary by region within states, too.

Why is it important to have an attorney involved early in the process?

Having an attorney involved early in the process can often save time and money in the long run , Zuetel says.

Does a brokerage offer a real estate attorney?

Some brokerages offer the services of a real estate attorney and broker in one at no additional cost.

What is the education required for real estate agents?

As part of agents’ licensing education, they’re taught and tested on real estate contracts used within their state, many of which also require continuing education courses and/or certifications on subjects such as ethics, buyer’s agency, distressed property sales, and more.

Who is the executor of a property whose owner is deceased?

You’re the heir or executor of a property whose owner is now deceased.

What is a problematic area to buy a house in?

You’re buying a property in a problematic area such as a flood zone or areas with adverse conditions (tornado-prone, radon, toxicity levels, etc.).

How much does it cost to hire an attorney to sell a house?

You can also hire attorneys for flat fees for specific services. This can run anywhere from $800 to $1,500 when selling a home. Whether or not you decide to hire an attorney will depend on what state you live in and your particular circumstances.

What does an attorney do for a mortgage?

An attorney will draft the contract based on your agreement, review the title, review mortgage documents, and look over the transfer paperwork. They will also write the deed and validate the breakdown of settlement funds at closing.

What is flat fee MLS?

Flat-fee MLS companies put your home on the MLS for a set rate, saving you potentially thousands of dollars on realtor commission costs. Read on to learn more.

What does a partner agent do?

In most cases, a Partner Agent will be able to help you through all of the legal requirements of selling your home, in addition to finding you a large pool of potential home buyers. But spending a few hundred dollars for an attorney to check over all of the fine print in the final deal can be worth it.

What can a real estate agent do?

A professional real estate agent will be able to help you through the search, negotiation, and closing phases of most real estate transactions. But as noted above, you may want to hire an attorney to look over the final contract before you sign. A Clever Partner Agent will be able to help you find a trusted lawyer.

Why do you need an attorney for a trust?

You will also want to use an attorney to make sure that you are complying with the terms of any trust that may have been established. There may be fiduciary responsibilities for the property that you may not be aware of. An attorney will help you determine what your obligations are for the trust.

What to do if you get a foreclosure notice?

It's always best to contact a real estate attorney if you get a foreclosure notice. They may be able to find a way to stop foreclosure through an injunction. You may also want to hire an attorney if you are going through a divorce or separation. The attorney can help you negotiate the sale with an uncooperative partner.

What to do after selling a house?

You can get a clear picture about taxes. After you sell a house, you might have to deal with taxes. It is important to have a clear picture about these taxes in your mind. The property lawyer will be able to help you in here. In fact, the property lawyer will provide you with a clear picture on how taxes are applicable to your transaction ...

What happens if a buyer doesn't have a lawyer?

If your buyer doesn’t have a property lawyer, you will be able to get your property lawyer to clarify the doubts and concerns that he will come across as well.

Can a property lawyer help you with a property transaction?

Since you have a property lawyer by your side to help you with the transaction, you can get your questions and doubts cleared immediately. Hence, you can proceed to complete the transaction without keeping any doubts in mind.

Can a real estate lawyer help you sell your house?

Hence, you will be able to rely on the real estate lawyer and proceed to get the transaction completed. You can make sure that you receive all the legal support needed throughout the process by the lawyer you hire.

Is it mandatory to hire a property lawyer?

When you take a look at the state law that exists in some of the states, you will figure out that it is mandatory to seek the assistance of a property lawyer. Hence, you will not have any other option available to consider than hiring a property lawyer to proceed with completing your transaction. Even if hiring a property lawyer is optional, it is ...

Do you hire one lawyer for the same transaction?

A common thing that people do is hire one lawyer for the same transaction. So, both sides share the expenses and it comes as a win-win situation for everyone. But, we advise you to do this only if you trust the other side, or the borrower a lot. Advertisement.

What to do when selling a house with a tenant?

When you decide to sell your house with a tenant living in it, you have a couple of options: Wait for the tenant’s lease to expire or ask them to vacate. Sell with the tenant in the home and transition their rental agreement to the new owners.

Why do you need an attorney at closing?

The reality is having an attorney in your corner, especially at closing, protects you from documentation issues, titling errors and costly lawsuits.

Which states have different rules for real estate attorneys?

Take Massachusetts and Maryland as examples of two states with drastically different rules about real estate attorneys.

What do real estate attorneys do after the offer phase?

Once you’re past the offer phase, real estate attorneys draft contracts; review title, mortgage and transfer documents; write the deed; and check the final breakdown of settlement funds at closing.

What to ask a realtor about a listing?

In the early stages of your sale, you can ask them to look over the listing agreement with your real estate agent to make sure that the terms are in your favor. Real estate attorneys are also equipped to review offers as they come in and identify red flags or tax benefits and considerations.

Do you need an attorney to oversee a home sale?

Unless your area requires that real estate attorneys be involved in real estate transactions, whether you hire an attorney to oversee your home sale is ultimately up to you.

What to do if you have a gut feeling about a home sale?

If you have a gut feeling that there may be unexpected issues with your home sale, such as damage or defects that have gone unnoticed or possible issues with the ownership and title, consult with a real estate attorney.

What can an attorney do to help you sell your property?

In addition, an attorney can explain the effect of easements and agreements or restrictions imposed by a prior owner, and whether there are any legal restrictions which will undermine your ability to sell the property.

What is real estate lawyer?

A real estate lawyer is trained to handle these problems and has the most experience to deal with them.

What can an attorney do to help with title insurance?

Assuming you are in an area where title insurance is customary, an attorney can help review the title search and explain the title exceptions as to what is not insured. They will also determine whether the legal description is correct and whether there are problems with adjoining owners or prior owners.

What is a title search?

Title Search. After the purchase agreement is signed, it is necessary to establish the state of the seller's title to the property to satisfy the buyer and the financial institution. Generally, a title search is ordered from an abstract or title insurance company. In some states, title insurance is not typical.

What is the most important document in a home purchase?

The purchase agreement is the single most important document in the transaction. Although standard printed forms are useful, a lawyer is helpful in explaining the forms and making changes and additions to reflect the home buyer's and the seller's desires. There are many issues that may need to be addressed in the purchase agreement, such as:

What to do if a lawyer is not needed during the negotiation process?

Even if a lawyer is not needed during the course of negotiations, both the buyer and seller may want to consult with a lawyer to answer important legal questions, such as the tax consequences of the real estate transaction. The tax consequences may be of critical importance to a home seller.

Can a realtor be forced to pay more than one brokerage commission?

In the absence of an agreement to the contrary, the seller may become liable to pay a brokerage commission even if a sale does not occur, or they may be forced to pay more than one brokerage commission.

What can a knowledgeable agent do for you?

A knowledgeable agent can guide you through the home selling process from listing to closing. He can give you an estimate of your home’s value , suggest a listing price, show your home to potential buyers, write up and explain the purchase contract, and handle negotiations with the buyer or buyer's agent.

What is a broker fee?

If you are working with a seller’s agent and have signed a broker’s fee agreement, an attorney can help you understand the legalities associated with the commission or brokerage fee, which is normally a percentage of a home’s sale price.

What percentage of homes sold in 2012 were for sale by owner?

Statistics reported by the National Association of Realtors show that 9 percent of home sales in 2012 were "for sale by owner" transactions. But despite saving money, many owners have trouble understanding and completing the extensive paperwork required for a sale. A real estate attorney can help you close the deal, ...

Do you need an attorney for real estate transactions?

Typical Real Estate Transactions. Most real estate transactions don’t require an attorney if you work with a licensed real estate listing agent who is familiar with the market and real estate disclosures. A knowledgeable agent can guide you through the home selling process from listing to closing.

What can a lawyer do for you?

A lawyer can help you resolve some of the tougher, more technical issues that might come up. These may include easements, rights of way, boundary disputes, or other issues involving the property the house is on. You may also need legal advice if the property is involved in a foreclosure or other litigation, or if you get into a dispute with the buyer or seller. Always talk to a lawyer if someone threatens to sue you.

What to do if you are buying a home and have legal questions?

If you're buying or selling your home and have legal questions, check out our personal legal plan and talk to an independent attorney in your state .

What to do if someone threatens to sue you?

You may also need legal advice if the property is involved in a foreclosure or other litigation, or if you get into a dispute with the buyer or seller. Always talk to a lawyer if someone threatens to sue you. 5. You are concerned about the tax consequences.

What happens when you hire a lawyer?

When you hire a lawyer, your lawyer only works for you and will make sure your interests are protected. 4. There is a problem with the property or the deal. A lawyer can help you resolve some of the tougher, more technical issues that might come up.

What happens if you make an offer on a house and aren't represented by a real estate agent

If you make an offer on a house and aren't represented by a real estate agent, the seller's agent may offer to take care of everything. This is known as “dual agency," and it can cause problems because one agent cannot truly look out for the best interests of both you and the seller.

Do lawyers have to be involved in real estate transactions?

In some states, lawyers must be involved in certain aspects of a real estate transaction. In other states, lawyers are optional.

Is it smart to hire a real estate lawyer?

But there are times when it's a smart idea to hire a real estate lawyer. Here are seven home buying and selling situations where a lawyer's insights can prove invaluable. 1. State law requires you to use a lawyer. In some states, lawyers must be involved in certain aspects of a real estate transaction. In other states, lawyers are optional.

What does a real estate agent do?

Your real estate agent represents you and must act in your best interests (while following the laws of the state), such as by telling you about all offers made on your house, including cash offers. The National Association of Realtors offers more information on the benefits of working with a real estate agent.

What is a prospective buyer's offer?

In most states, this takes the form of a written sale contract, covering everything from price to closing date to contingencies, such as a condition that the buyer must successfully obtain a mortgage and be satisfied with the results of a home inspection in order to close. You could sign onto this sort of offer immediately, making it legally binding.

Can a buyer back out of a sale?

A buyer who is alarmed at the scale of issues can, without violating the contract, back out of the sale at this point. Or the buyer might negotiate to have you either make the necessary repairs to your house, put aside money in escrow for repairs, or lower the home's final price to cover the costs.

What is a written sale contract?

In most states, this takes the form of a written sale contract, covering everything from price to closing date to contingencies, such as a condition that the buyer must successfully obtain a mortgage and be satisfied with the results of a home inspection in order to close.

What are disclosures in a house?

In most states, the law requires certain written disclosures to be made when you sell your house. These disclosures include any physical, environmental, legal, or other defects in the house or property, including things like whether lead-based paint or asbestos are present in the house, ...

Do you pay commission on a house when you hire a realtor?

When hiring a real estate agent, you ordinarily (under the standard arrangement) agree to pay that agent a commission fee for selling your house, regardless of who brings in the buyer. This means that even if you happen to find someone who wants to buy your house, you will still owe your agent a commission fee.

Do you need a license to be a real estate agent?

Nevertheless, hiring an agent is something you should at least consider doing. Every state requires real estate agents to be licensed, meaning that they are trained in the basics of your state's real estate laws (though they cannot give actual legal advice), and they have ready access to the needed paperwork, which they can in most cases prepare on ...