There is a lot about the real estate industry that many first-time home buyers are completely unaware of. Lawyers can help fill in some unknown information, but many balks at the single mention of an attorney. There is a lot they can assist with. First-time home buyers will often realize this as they navigate the stacks of paperwork that go into a real estate purchase. So how can a real estate law attorney in Dover, DE help in the purchase of a first home?
Easements, Liens, and Tricky Financial Walls
A property purchase is often labeled as is. It is a label generally avoided at the pawn shop, and it should be the same way with a home purchase. The as is status confirms that the seller has no responsibility for anything that happens with the property after a purchase. There are stipulations that can muddy this situation, such as the transparency of sale that confirms a seller needs to state anything they know about the property. They cannot intentionally hide a part of the home that is not particularly appealing, including damage.
A lawyer will review the property in one of two ways. They will almost always know someone who can do a physical inspection to validate the sale. They will also confirm that there are no easements or liens. These are stipulations that can potentially stop the sale or bring responsibilities to the new owner, which can include back taxes and even state sale restrictions.
Speed Along the Bank
The bank can drag their feet in a transaction and the authorization of a mortgage. The lawyer can keep their client as a priority. Due to the overwhelming demand for new homes and the scale of the industry, this could make a huge difference. Receiving a mortgage can take months. Under the diligence of an attorney, the time could be cut in half.
Visit the website of the real estate law attorney in Dover, DE at website.com. The team has protected clients against unfavorable purchases and supported them in obtaining a reasonable mortgage. With thousands of real estate transactions every month at competitive prices, the industry is moving faster than ever.