Buying or selling a house is the most expensive transaction that most people will make in their lifetimes. Real estate contracts can also be complex legal documents exposing you to risks if problems arise.
Connecticut is one of several states that require real estate attorneys to be involved in several parts of the process, ensuring that the agreement is ready for closing.
Safeguarding buyers’ and sellers’ rights
Real estate attorneys have many functions in a home purchase. While acting on behalf of the buyer or seller, their role is to ensure that the process goes smoothly, which will benefit both parties. Their functions include:
- Negotiating contracts: While many buyers negotiate through a real estate agent, attorneys also work on your behalf by making sure the deal is in adherence to all state laws.
- Title search: Under Connecticut law, title searches must be done by real estate attorneys. This vital step makes sure the property is free from any obligations, such as tax liens or legal judgments. It also validates that the owner has the right to sell the property.
- Title insurance: Real estate attorneys issue this type of coverage, which protects property owners and lenders against potential losses or claims that can arise over past liens or defects to the title, or disputes over ownership of the property.
- Filing documents: Your attorney will also ensure that all deeds for the property are recorded quickly and efficiently with the appropriate state and local agencies.
Protect all aspects of your transaction
Your lawyer also helps resolve issues that can happen after a home inspection uncovers unexpected flaws or defects to the property. An experienced real estate attorney will protect your rights to withdraw from the agreement if those issues cannot be settled.