For Sale By Owner
If you are planning to buy or sell a property without using
a real estate agent, you may be considering handling the purchase documentation
on your own to save money. While it is easier to sell a property without a real
estate agent, it’s a bit more challenging to do it without a real estate agent
or lawyer. It is important to understand
the potential legal risks and challenges involved. As a real estate lawyer, I
am here to help you navigate this process and help ensure your sales
transaction occurs smoothly.
Here are the five important steps you should take when using
a lawyer to handle the purchase/sales documentation for a property transaction:
1.
Gather all necessary documents: Before you meet
with your lawyer, gather all of the documents that you will need for the
transaction, including the purchase or sale agreement, mortgage documents, and
any other relevant documents.
2.
Schedule a meeting with your lawyer: Set up a
meeting with your lawyer to review and prepare the necessary documentation for
the transaction. Make sure to allow plenty of time for this process, as it may
take several hours or more to complete all of the necessary paperwork.
3.
Discuss your specific needs and goals: During
the meeting with your lawyer, discuss your specific needs and goals for the
transaction. This will help your lawyer to understand your unique situation and
advise you on the best course of action.
4.
Review and sign the documents: Your lawyer will
review the documentation with you and explain any provisions or terms that you
may not understand. Once you are comfortable with the documents and have had
all of your questions answered, you can sign them and proceed with the
transaction.
5.
Close the transaction: Once all of the necessary
documents have been signed and the closing conditions have been met, a title
company will assist with the final steps to close the transaction. This may
include coordinating with the other party, their lawyer, and any financial
institutions involved.
Using a lawyer to handle the purchase documentation for a
property transaction can help you to save money on real estate agent fees while
still ensuring that your rights and interests are protected. If you have any
further questions or would like to discuss your specific needs in more detail,
please do not hesitate to reach out to us at (888)200-9824. We are here to help
you navigate this important process.