Wednesday, October 7, 2015

How Your Buyer Attorney Should Be Protecting YOU

Bringing a successful real estate transaction to fruition is always dependent upon the expediency and fortitude of the parties involved. From the listing and buyer brokers down to the home inspector and appraiser, the diligence (or sometimes lack of) of each person involved in the process is crucial to the deal's success. And the real estate attorney often plays the biggest role in whether the deal moves forward to the handshake and handing over of the keys or whether it gets halted somewhere between accepted offer and WHAT THE HECK JUST HAPPENED HERE?!

Recently, my buyer clients signed a contract for purchase through their real estate attorney whom was referred to them; This contract included an inane stipulation strategically placed in the contracts by the seller attorney, stating that the seller did NOT have to provide insurable title with the property by closing. My buyers, the vulnerable consumers, trusted their own attorney when she assured them that this issue would be cleared up soon, allowing them to proceed with signing the contracts....five months later, we are still waiting with baited breath and cautious optimism that the title issue will finally be cleared at a town hearing next week, after months of opposition and subsequent delay by the town board....Fortunately for my buyer clients, it seems as if this house will now officially be their home soon. Yet, their signature on these contracts could've posed a much larger problem for them as they were contractually bound to a house that wouldn't have been mortgage-able for them without clear title.....due to an oversight and lack of due diligence on their entrusted attorney's behalf.

The buying (and selling) process can often be overwhelming enough, emotions flying like a bundle of balloons in a sky that can become as tumultuous as it was clear blue just the moment before. This is why it's paramount that the right real estate attorney is hired for the job. One who lives and breathes real estate transactions, one whose wheelhouse is well seasoned to tricky situations like a cloudy title issue. It is equally as important for the buyers and sellers to be able to completely trust their hired legal counsel to guide them both ethically and professionally, to help turn any question marks into periods. Especially when the contracts to most eyes can be like reading a medieval scroll for the first time. It is the attorney's role to protect their client's best interests and to guide them with the hand and heart of an educator. So the buyers know what they're signing up for when their pens grace the dotted line...With a home purchase standing as one of the most significant and expensive investments in one's lifetime, the buyer is entitled to the most professional and expert guidance by the ones whom he/she has entrusted to share this wonderful and life-changing experience with.

Stay motivated, stay informed....and Be Moved!

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