Do you need a lawyer when you’re buying a house? Well I would suggest that you might want to consider hiring a board certified real estate lawyer or a lawyer who regularly deals with real estate transactions. What is he going to do for you? Well he’s going to represent you because you don’t have anyone else representing you. The realtor is usually a transactional broker and their job is to find you a house for you to purchase. Many of them are very knowledgeable and can give you some direction as to what you should be doing, however, they don’t represent your interests. An attorney will represent your interest and will advise you of what you need to do not only purchase a house and pay the money and check the title but also some of the non-legal matters that need to be done such as the physical inspections.
You need to check to see if the property ever had any sinkholes whether there’s any open permits, get termite inspections, home inspections, possibly surveys, and finally why a lot of people like to have a lawyer is to look over their title. You will receive a title insurance commitment. The title insurance commitment on the front page says they’re ensuring the title.
The second commitment paid to the commitment will say well these are the requirements that are necessary in order to ensure the title. Well those are critical to make sure that those are all done at the time of closing. But the most critical thing about your title commitment are the exceptions. These are exceptions that say what they will not be insuring. It’s a document that if you’re usually not familiar with and have not seen whereas I’ve looked at probably 10,000 to 15,000 of these title commitments and go through the exception page and require the closing agent to delete the requirements under the second page of the title commitment.
Under the exceptions there can be outstanding paving assessments. One of the other problems that you may have is checking this make sure there’s no utility bills. So, there is a lot of things that can come up that cost you money if you don’t do your due diligence either through the title commitment or if you don’t have a home inspection or the physical attributes of the house. And so if you have a lawyer he can hit you in the right direction as far as doing your due diligence as far as inspections, surveys and if you need financing direct you to someone who can assist you in obtaining the mortgage for you.