Buying a home is an involved process that requires potential owners to do their due diligence and fill out copious amounts of paperwork. As this is typically the largest purchase a person will make in his or her lifetime, it makes sense that the procedure is so complicated—especially in the case of financed homes. This is just one reason why it’s wise to consult an experienced Phoenix real estate attorney before even signing the first contract when buying a home in the Valley. A lawyer can help navigate the many steps of home buying and ensure you’re legally protected and your interests are put first.
Many potential owners don’t realize it, but their real estate agents use template sales contracts during the home buying process. Real estate agents do not try to put their clients at a disadvantage with the very basic sales contract, but it is simply not their area of expertise. This is why it helps to have an attorney negotiate on your behalf. He or she can read through the sales contract, identify the legal remedies that are offered in case of arbitration and point out any other downsides of the home like outlandish HOA fees for the community. It’s easy to overlook the fine print in the excitement of purchasing a home, but a lawyer will comb through to find all the information you need.
When you purchase a home, the first essential paperwork you’ll likely encounter is the sales contract, which outlines the legal remedies offered to all relevant parties in case of arbitration. It provides clear-cut steps, and it is meant to protect all parties. However, like any legal document, the sales contract could be full of minute details and high-level jargon. A real estate attorney can untangle the web and provide actionable advice, so you’re sure to know exactly what terms you’re agreeing to before signing the sales contract.
Negotiation is another reason to hire a real estate attorney in Phoenix. Arizona doesn’t require the use of an attorney in the home buying process, but it’s worthwhile in the long run. Prospective buyers should remember that a real estate agent is not qualified to negotiate your sales contract or other legal matters on your behalf. An attorney, on the other hand, can negotiate and offer you advice to get the most out of your new home.
A real estate attorney can also assist you with navigating the disclosure process of home buying. Sellers must disclose any damages or potential hazards of the property in question, so a lawyer can help you clarify what needs to be disclosed and enforce disclosure of anything you find suspicious while inspecting the house. This way, you’ll be prepared for any issues that could arise in your future home. You’ll also understand what you sign, what it mandates and how you will move forward with the purchase.
Sales contracts, property disclosures and negotiations are but a mere starting point in the home buying process, but it is made far less complex with the assistance of a real estate attorney. Legal advice is always a beneficial long term investment, and advice as it applies to real estate is no different. Regardless of your strategy, though, tread lightly and conduct your research before signing on the dotted line.