How Important Is An Attorney To Your Real Estate Transaction?
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J Harris
Mar 29, 2013, 7:30:06 AM3/29/13
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Article Title: How Important Is An Attorney To Your Real Estate Transaction?
Author: J Harris
Word Count: 616
Article URL: http://www.isnare.com/?aid=135739&ca=Real+Estate
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=135739
Easy Publish Tool: http://www.isnare.com/html.php?aid=135739
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Would you sign your name to a multi-million-dollar contract for the company for which you work without an attorney first looking it over? Probably not, because it is your fiduciary responsibility to ensure there is no adverse language in the contract. Yet, we do it for ourselves all the time.
Years ago when I enlisted into the U.S. Navy, several of us were in the same room to sign our enlistment contracts with the government of the United States. Afterwards, we would together go on to the next phase of the enlistment process. Everyone had signed their contracts without reading it and they were grumbling, because I would not sign my contract until I had read every word. The contract was many pages in length and lots of small print. After one guy was a bit too aggressive in his complaints of me making them wait, I quietly looked him straight in the eyes and said, �You signed your contract without reading it. Did you know that you have agreed to jump off the end of a naval ship into the ocean amidst a ring of fire?� The guy laughed and said the contract did not say that. The senior chief, who was supervising us and in the room, said the contract did say that. While everyone else went green in color and looking ready to throw up, I finished reading the contract. You could say that jumping into a ring of fire in the ocean from a very big naval vessel might be construed as �adverse language� in a contract.
Signing purchase agreements for real estate is no different; yet, many people sign them every day without reading them, much less having an attorney review them.
The average home will cost you a long-term commitment upwards of $135,000 � much more in the San Diego area. You are going into debt for a large amount of money over a long period of time. It is important to have a real estate attorney review such a contract, as it is for creating any other contract.
A real estate attorney will tell you if the purchase is advisable, if it should be modified to protect you if the transaction goes bad, if it is legally binding as written, and whether there is any adverse language in it. You should be protected against any contingencies and possible outcomes.
The services of a real estate attorney may cost $200 or more to review the contract. Though many realtors assist in this capacity, a real estate attorney is more knowledgeable and experienced, ensuring you get the best advice. That same real estate attorney can represent you in court, where the realtor can only shrug his/her shoulders and, maybe, offer an apology. Additionally, the real estate attorney can prepare all needed real estate documentation, including warranty deeds, title opinions, and documents to clear any title defects.
There are times when having a real estate attorney review a contract could cost you the deal � you could be up against another buyer, who wants the same property and the seller will not wait for the review, which the other buyer is not requiring. In such a case, only sign the purchase agreement after adding the clause: �Subject to review and approval by attorney of buyer�s choosing.�
Remember, once the contract is signed without a contingency clause, it is too late for redress. At that point, a real estate attorney can only advise you on what you have done and little else. The time to hire the real estate attorney is before you sign on the dotted line, not afterward.
About The Author: John Harris is an expert researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more on San Diego Homes for Sale visit http://www.twtrealestate.com
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=135739
*********************** ARTICLE END ***********************
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Message delivered directly to members of the group:
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*****************************************************************
Please consider this free-reprint article written by:
J Harris
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=135739
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=135739
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: How Important Is An Attorney To Your Real Estate Transaction?
Author: J Harris
Word Count: 616
Article URL: http://www.isnare.com/?aid=135739&ca=Real+Estate
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=135739
Easy Publish Tool: http://www.isnare.com/html.php?aid=135739
*********************** ARTICLE START ***********************
Would you sign your name to a multi-million-dollar contract for the company for which you work without an attorney first looking it over? Probably not, because it is your fiduciary responsibility to ensure there is no adverse language in the contract. Yet, we do it for ourselves all the time.
Years ago when I enlisted into the U.S. Navy, several of us were in the same room to sign our enlistment contracts with the government of the United States. Afterwards, we would together go on to the next phase of the enlistment process. Everyone had signed their contracts without reading it and they were grumbling, because I would not sign my contract until I had read every word. The contract was many pages in length and lots of small print. After one guy was a bit too aggressive in his complaints of me making them wait, I quietly looked him straight in the eyes and said, �You signed your contract without reading it. Did you know that you have agreed to jump off the end of a naval ship into the ocean amidst a ring of fire?� The guy laughed and said the contract did not say that. The senior chief, who was supervising us and in the room, said the contract did say that. While everyone else went green in color and looking ready to throw up, I finished reading the contract. You could say that jumping into a ring of fire in the ocean from a very big naval vessel might be construed as �adverse language� in a contract.
Signing purchase agreements for real estate is no different; yet, many people sign them every day without reading them, much less having an attorney review them.
The average home will cost you a long-term commitment upwards of $135,000 � much more in the San Diego area. You are going into debt for a large amount of money over a long period of time. It is important to have a real estate attorney review such a contract, as it is for creating any other contract.
A real estate attorney will tell you if the purchase is advisable, if it should be modified to protect you if the transaction goes bad, if it is legally binding as written, and whether there is any adverse language in it. You should be protected against any contingencies and possible outcomes.
The services of a real estate attorney may cost $200 or more to review the contract. Though many realtors assist in this capacity, a real estate attorney is more knowledgeable and experienced, ensuring you get the best advice. That same real estate attorney can represent you in court, where the realtor can only shrug his/her shoulders and, maybe, offer an apology. Additionally, the real estate attorney can prepare all needed real estate documentation, including warranty deeds, title opinions, and documents to clear any title defects.
There are times when having a real estate attorney review a contract could cost you the deal � you could be up against another buyer, who wants the same property and the seller will not wait for the review, which the other buyer is not requiring. In such a case, only sign the purchase agreement after adding the clause: �Subject to review and approval by attorney of buyer�s choosing.�
Remember, once the contract is signed without a contingency clause, it is too late for redress. At that point, a real estate attorney can only advise you on what you have done and little else. The time to hire the real estate attorney is before you sign on the dotted line, not afterward.
About The Author: John Harris is an expert researcher and writer on real estate topics such as economics, credit improvement tips, home selling advice and home buying preparations. For more on San Diego Homes for Sale visit http://www.twtrealestate.com
Please use the HTML version of this article at:
http://www.isnare.com/html.php?aid=135739
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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