At Cape Lawyers, we know that many homebuyers wonder, “Do I need an attorney to sell my house?” While hiring a real estate attorney to help you navigate the home selling process may seem like a luxury and expensive, it can be essential. In fact, many states require an attorney to be involved in the sale of a home. Beyond local laws, there are many reasons to seek the advice of a real estate attorney and hiring one is more affordable than you might think.
Selling your home can come with many complicated factors that are beyond the knowledge or skill of the average homeowner or even real estate agent. Whether you need help resolving title or tenant issues, a foreclosure or anything else, you’ll want to work with a real estate attorney when selling your home gets complicated. So, do you need an attorney to sell your home? You might. Read on to learn why to hire a real estate attorney:
Adhere to local laws 2.
There are many pitfalls to avoid when selling your home, and violating local laws is, in fact, one of them. Depending on where you live, you may have a legal obligation to involve a real estate attorney in the process of selling your home. Check with your real estate agent and/or an experienced attorney to see if a real estate attorney is required in your state. Even if your state does not require you to hire an attorney to sell your home, it is worth considering hiring one for the reasons listed below.
2. Navigate a For Sale By Owner (FSBO) Agreement
A For Sale by Owner (FSBO) agreement is the process of selling your home without the representation of an agent or broker. Do I need an attorney to sell my home privately, you ask? While being independent has its advantages, there is still a considerable amount of paperwork to prepare and review during the home selling process. In addition, there are laws, disclosures and regulations that you’ll likely need help navigating. A real estate attorney can guide you through the many steps of the process and provide invaluable information if problems arise during the sale.
3. Settling Liens and Judgments
You will need to settle any existing judgments or liens on your property before selling your home. Frankly, you may want to address these issues even before you list your home for sale, as you don’t want any liens or judgments to scare off potential buyers. A real estate attorney can help negotiate payment with creditors or lenders and ensure that these obstacles are removed.
4. Resolving title problems
When conducting a title search, liens or judgments often arise, but these are not the only problems that can be discovered. Illegal deeds, clerical errors or even previously unknown heirs can derail the sale of your home and put your plans on hold. An experienced real estate attorney can help you navigate these problems with confidence and ease.
5. Management Easements
Your property may have an easement that gives another party rights to access or use your land for a particular purpose. For example, the government may have the right to install gas pipelines or railroad tracks on your property. If the easement is restrictive enough, it may cause potential buyers to run away. As a seller, you may want to determine the duration of the easement or terminate it altogether. An experienced attorney can resolve this issue on your behalf.
6. Take the pain out of a post-divorce sale.
Unfortunately, some married couples separate and selling their shared home can be complicated if both parties are named on the mortgage and deed. If you are already divorced or in the process, you will need to unravel the ownership of your home and manage the disposition of the home, closing signatures and sale proceeds. Without the help of a real estate attorney, this complex process can add unnecessary stress and fuel an already smoldering fire of resentment between you and your ex.
7. Prevent or ease the burden of foreclosure.
No one wants to lose their beloved home, but people get sick, lose their jobs or face other unexpected struggles. If you are in financial trouble, a real estate attorney can help you work out a deal with your mortgage provider to adjust or refinance your loan and avoid foreclosure. If this is not an option, an attorney can help you negotiate a short sale with loan forgiveness and any other requirements to help you move forward.
8. Deal with tenants without headaches
While tenants are great when you need mortgage help, they can create unwanted complications when you want to sell your home. But you can’t just tell your tenants to hit the road; tenants have rights and you must legally respect those rights. In addition to existing leases, there are laws governing evictions and landlords. Talk to an attorney to handle the tenant aspect of selling your home carefully to avoid legal action.
9. Simplify a complex estate sale
Inheriting a home from a family member can be complicated, and trying to sell that home adds trust and tax implications that make the process even more perplexing. Estate sales are one of the many reasons people seek the advice of a real estate attorney. An experienced real estate attorney can ensure that everything is done according to the law and that your estate does not become a financial monkey on your back.
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