Attorney input on real estate sale can save money

Attorneys can help at any phase of your real estate transaction, whether you are a first-time home buyer or a long-time commercial developer.

Attorneys review contracts and can participate in negotiations for the purchase of land for a home or for a development.

What about zoning, what about covenants and restrictions, what about local land use planning? And what about environmental issues? Attorneys can help you through the myriad statutes and regulations before or after purchase.

When it comes time to look for that new home, a lawyer can be of assistance by reviewing the sales contract. A lawyer should review your loan documents from a bank or mortgage company, to make sure you understand all your responsibilities.

You may believe that everything will go according to plan with repayment, but what happens if something unexpected happens and you cannot repay the loan as stated in the documents? Are there prepayment penalties? Must you make payments into escrow, or can you fund insurance and taxes yourself? At the closing, the attorney can make sure that all documents are in order and all costs are correctly allocated.

Title insurance has replaced abstract opinions when transferring property, but that doesn't mean review of the title policy by a lawyer is not necessary. There may be exclusions shown in the policy that could cause you problems later on.

Now that you've been in your home sweet home for a while, have you found one or two little changes you'd like to make? You get on the phone with your friendly contractor with grand plans to make your castle a palace. What about that remodeling contract?

Why not have an attorney look it over before you sign? There might be a clause in there you don't understand. What recourse do you have if the work is not completed as promised? What if they just won't finish? You do not want to be left holding the bag. Also, ask about mechanic's liens before you make payment