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Why Are Attorneys Involved in Real Estate Transactions

April 13, 2021

When you are making a real estate transaction, whether you are buying or selling, there are many components that need to be taken into consideration because of the high number of factors that are in play. In some instances, people may think that the real estate agent and the lenders are the only people you need during this transaction but it is important not to overlook the role of your attorney.

The attorney plays a very important role in your team when you are either purchasing or selling your home. Most importantly, your attorney is the only person who can actually give you legal advice regarding your transaction. All the other members of your team, your realtor who actually helps you find the home or lists your home or sell your home can give you business advice in terms of what’s best for the market in which you are purchasing or selling. Your inspector can tell you what the condition of the home is and what the condition of the home you are purchasing is like. Your lender when you are purchasing a home will tell you what you can afford and the best loan program that works for your circumstances, but an attorney is really the only one who can actually tell you legally where your particular circumstances lie.

It’s important to contact an attorney early on so you can have a contract reviewed through an attorney review and then through the process of home inspections and other contingencies involved in purchasing a home. At the same time, when the closing comes, the attorney will be there to assist in any issues that come up either prior to or at closing.

Juan C. Velasco, Esq. is a trusted attorney who has been serving the New Jersey area for over 25 years. If you are in need of experienced legal counsel, please contact Velasco Law Office and we will be happy to assist you.