It is no longer news that the housing market is exploding, selling fast like never before. Buying a home is a strategic process, and securing your dream home means you have to work quickly. However, some mistakes could entirely ruin your week.
The fact is, real estate buyers and sellers are rarely in a haste. After all, they want to be able to keep an eye on vital aspects of the business.
In that case, here to costly mistakes, you should avoid when in real estate investment.
1. Sells contract not completed
The selling contract is an important document, an agreement between the buyer and seller which is legally binding. You must ensure that the contract is accurate and acceptable by working closely with a real estate attorney.
With your attorney’s help, you will negotiate for a better offer, including verifying contingencies for the sale of another property.
2. Disclosure statement issues
The seller must disclose any defeat to the seller, or the seller might become liable for future issues not disclosed. So, making sure that the disclosure statement is accurate and honest should be your top priority.
The disclosed statement gives the buyer an edge to negotiate. Since all defects have been disclosed, the cost of fixing them will have to be considered for a better offer.
3. Unclear Title
Another common mistake is failing to conduct a title search due to the money involved. Your title shows you’re the legal owner of the property. When there is any lien that is attached to the property, it might become a problem.
That is why you must work with an experienced real estate attorney who will conduct a title search before closing the deal.
Mistakes when hiring the best real estate attorney
The most common mistake people make when hiring an attorney is basing only on the cost of legal fees When you’re looking to hire the best lawyer, the cost of legal fees shouldn’t be your only consideration.
Another is failing for misleading advertisements that offer too good to be true offers. When you see a promise that is quite cheaper than the normal rate, always call your lawyer to confirm.
Other mistakes people make when hiring a real estate attorney include:
- Not shopping around
- Not discussing availability and
- Not asking questions
Work with us instead
If you’re looking for a real estate attorney to help seal off the deal, we’ve got you covered. All you have to do is give us a call 718-477-0020, or perhaps fill our contact form. Our real estate agent will get in touch as soon as possible.