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How Hiring A Real Estate Attorney Can Save You Money

5/25/2018

16 Comments

 
​When you are looking to buy your first home, the investment that you will be making is enormous. For most people, buying real estate is the most significant investment that they will make in their lifetime. The financial costs of purchasing a home do not end with the price of the house and the banks and real estate agents, while wanting to help you achieve your dream of homeownership, all are looking out for their own interests as well. A real estate attorney, who receives a fee for their work, has only your best interests at heart. In fact, there are many things that real estate lawyers do that help save you money. Here are the top three ways that real estate lawyers save you money!

Review Your Contract

You would not be able to review your contract unless you went to law school yourself. Being able to understand the intricacies of a real estate deal without training is next to impossible. There is a lot at stake, much of which is your hard earned money. By having a real estate lawyer look over your contract, they will be able to make sure that everything in the contract is above board and that you are paying only what you have agreed to pay. 

Advice Regarding Property Restrictions

When you purchase a piece of property, there are sometimes restrictions on the property that you may be unaware of. If you want to buy a home, you may not be aware that it is in a historic district and that, because of that, it has stipulations as to what you can and cannot renovate. There may also be bylaws that restrict what you can do with the exterior of your home, your yard, or any renovations you want to do to your home. Real estate lawyers can help with this so that you do not end up in a situation where you need to resell your home, as most times reselling your home soon after purchasing it will not allow you to recoup your costs. 

​Title Issues

A title, also referred to as a deed, is a representation of the ownership of the property. When you purchase a piece of property the title is transferred from the owners and to you, which makes you the new owner of the property. If this is messed up in any way it can mean that another party has a legal claim to the property, which means that you will need to go to court to defend the rights to your property. Hiring a knowledgeable real estate lawyer protects you from this situation, which will save you money. 

You need a real estate lawyer when purchasing a property. There is no one better to protect you and your new property. Buying a home is stressful and costly, and while hiring a real estate lawyer is an additional cost, the amount that they save you is huge. The team at The Knee Law Firm wants to help you purchase your new home. If you are looking for a real estate attorney in Chicago, contact us today. 
16 Comments
Candice Eisenhower link
6/29/2018 09:35:48 pm

You made a good point about making a wise and cost-effective decision in hiring a real estate attorney who will review your real estate contract and make you understand the stipulations and what advantages will you garner from it. This makes perfect sense because contracts can be technical that only specific professionals can understand and give you advice whether you're making a wise decision or otherwise. I will keep this in mind as soon as my husband and I have decided to take a house for our future family.

Reply
Zachary Tomlinson link
12/1/2020 07:48:10 am

I find it amazing to learn that a real estate attorney can help you finalize the entire real estate process by thoroughly checking your contract if there are any issues with it. My friend is thinking of owning a home next year after learning that his wife is pregnant. I hope he'd consider hiring one of these attorneys as a start!

Reply
Victoria Addington link
12/30/2021 08:33:39 pm

Thank you for explaining that a real estate lawyer will be able to make sure that everything in the contract is above board and that you are only paying what you have agreed to pay. My friend is buying a property, and as a first-time buyer, she has no idea how to deal with all the legal works of buying a home. I must advise her to hire a real estate attorney in our area to guide her accordingly on buying a property.

Reply
Charlottelandsurveys.com link
2/23/2022 05:24:22 am

Totally agree, hiring a knowledgeable real estate lawyer protects you from this situation, which will save you money.

Reply
Spencer Wetzel link
3/11/2022 03:47:19 pm

If this is messed up in any way it can mean that another party has a legal claim to the property, Thank you for making this such an awesome post!

Reply
Moshtael Family Law link
3/25/2022 01:34:09 pm

If you want to buy a home, you may not be aware that it is in a historic district and that, Thank you for the beautiful post!

Reply
Pinkham & Associates link
3/25/2022 02:14:32 pm

Your best interests at heart. In fact, there are many things that real estate lawyers do that help save you money. Thank you for taking the time to write a great post!

Reply
kate hansen link
4/27/2022 02:27:08 pm

I like how you said that they can help with your contract. My parents are needing help with estate litigation. I'll make sure to pass this information along to them so that they can look into hiring a lawyer.

Reply
Charlotte Fleet link
5/16/2022 04:29:51 pm

It was good to learn the different ways a real estate lawyer can save you money. Thanks for mentioning how they can check the contract to make sure you will only be paying the amount that you agreed to. I think it would be smart to look for an attorney that has many years of experience with real estate transactions.

Reply
Braden Bills link
10/7/2022 10:11:17 am

I'm trying to get my real estate put together. It makes sense that I would want to get a professional to help me out with this. I can see how a real estate attorney could end up saving me money in the long run.

Reply
John Carston link
10/25/2022 07:42:43 pm

It helped when you mentioned that you won't have a problem with transferring titles if you have real estate attorneys as representatives. My uncle mentioned a few nights ago that he was planning to hire a real estate attorney to get help with the transactions of selling his home to prevent title issues. He asked if I had any idea what would be the best option to do. I like this helpful article. I'll tell him that it will be much better if he consults a trusted real estate attorney as they can answer all his inquiries.

Reply
Tex Hooper link
11/8/2022 02:18:16 pm

I never considered checking for property neighborhood restrictions. My property seems to be in conflict with the neighbor's next door. I'll have to make sure that property lines are clearly delineated.

Reply
Brainard link
11/15/2022 04:15:30 am

Thanks for sharing the blog with an informative content. Kindly share more blog related to the benefits of hiring a real estate lawyer.

Reply
Daisy James link
12/7/2022 02:44:50 pm

I'm really glad you said that a real estate attorney can make sure you're paying the right amount by looking at your contract. My husband and I are planning on moving to a new house in a couple of weeks, and I was wondering if hiring professional help during the process would be a good idea. I appreciate you helping me learn more about the advantages of hiring a real estate attorney.

Reply
Asher Julian link
12/15/2022 10:28:37 am

Great Post. Your blog is very helpful and professional. I especially liked the way you structured the content in the post. Thank you for sharing this informative post.
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Olivia Smart link
12/21/2022 12:01:17 pm

Thank you for pointing out how a real estate lawyer can help when you need to review your contract. My sister is really confused about the contract she has and has been wondering what everything means. I'll have to share this with her so she can consider hiring a lawyer to help with making sense of it.

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  • Home
  • ABOUT KLF
    • BILL KNEE
    • THE KNEE LAW FIRM LTD
  • KLF Services
    • LONG-TERM CARE PLANNING
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    • REAL ESTATE
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