Ordinarily, you don't need a lawyer's advice when buying a home. In most cases, you can just make do with the services of a real estate agent. However, there are cases where a lawyer may come in handy when you're buying a home.
You Are Buying a Home Jointly
You can buy a home jointly with a friend or family member. It's a good option if you want to buy a second home that you won't be using all the time. The other owner or owners can help shoulder the homeownership expenses in return for shared use of the property. However, shared home ownership is fraught with complications, such as survivorship issues, sharing home maintenance bills, and the type of ownership to aim for, among other things. A real estate lawyer can help you untangle all these and other issues.
You Want To Move In Early
In most cases, home buyers wait until the transaction is complete before moving into their new home. However, there is nothing to stop you before moving into your new home before closing if the seller agrees. However, an early move in has a few issues that you should be clear on beforehand. For example, you need to know who will be taking care of the property insurance issues, who will be responsible for damages (such as plumbing leaks that may occur), and similar things. This calls for the advice of a lawyer to avoid future disputes. The same advice may be necessary for the opposite circumstance – if the seller wants you to delay the move in for a period after closing the deal.
You Need Clarity on the Current Tenant
You may also need a lawyer's help when buying a tenanted house. Don't forget that a tenancy agreement doesn't get automatically invalidated when property ownership changes hands. When you buy a home with the tenant, the tenant has the right to continue using the property until their lease expires. However, there are measures you and the seller can take to encourage the tenant to leave before their lease is up. Since tenants also have legal rights, you should only take these measures with the involvement of a real estate lawyer who will also ensure that any agreement reached is honored.
Hopefully, your home purchase process will conclude without any complications. Don't hesitate to contact a real estate attorney in any of the above circumstances or any time you need legal advice.Share
28 August 2018
Too many single people assume they don't need to plan their estate. My brother fell into this category, and his unexpected passing left our entire family struggling to deal with his home, belongings, and financial accounts. It took nearly three years for the courts to set up a deal because he left no paperwork detailing how he wanted his estate divided. The situation immediately convinced me to work on my own estate, even though I'm still in my early 30's and don't have children or a spouse to worry about. Since it's a little harder to pick beneficiaries and estate managers when you're single, I collected the resources I used for making my own decisions and decided to publish them here on my blog. Use these resources before talking to an estate planning attorney so you're prepared for making hard decisions.