A real estate transaction is likely one of the biggest deals you will be a part of, a real estate lawyer in Davenport IA is a must. A lot of people make the mistake of thinking that both the buyer and the seller can “share” an attorney. When you go to purchase a home many times the agent will offer up the seller’s attorney’s services to help you with the closing. Real estate transactions typically take on a friendly air, especially in residential transactions, while it is good if everyone gets a long it is not really a personal transaction.
Your interests should always be protected and you should always have your own lawyer in any real estate transaction.
The Process
Typically, a real estate transaction will start with a purchase offer. Before you sign anything have your lawyer take a quick look to see if there are any clauses or any language that may cause you problems somewhere down the road. It can be difficult to catch all the language that is used unless you are trained to do so. Having your lawyer (that you hire) take a look at all the documents involved in the transaction will just give you an added layer of protection.
After the purchase offer there are other important documents that will have to be reviewed:
- The contract to purchase
- The mortgage agreement
- The closing documents
- Title review
The purchase offer is only the first document, you have a long road from purchase offer to closing and at each juncture you will be inundated with documents to sign. Having an experienced real estate lawyer in Davenport IA whether you are the buyer or the seller can mean – saving money, negotiating costs and even repairs. It is important that everyone at the closing table feels equally represented. Buying or selling real estate is a big deal and you should have representation that has your best interests as a priority.
Be Represented
It can be attractive to “save money by using the other guys lawyer” but it will likely cost you more in the end. Don’t sign until you are comfortable that your lawyer has reviewed the pertinent documents and given you a thumbs up. You deserve to be represented in any real estate transaction no matter how friendly and you deserve to have your interests protected.
