Short answer: No.
Long Answer: No, but it is wise to have one, and here’s why:
Realtors help buyers find properties or help sellers find buyers. This is obviously an essential part of the real estate transaction process. But asking your realtor to govern or oversee your transaction is similar to asking the waiter at your favorite restaurant to review and advise on the long term nutritional effects of the dish you are considering to order with absolute certainty.
While there are many types of real estate transactions, one of the most popular points of view is the buyer of a residential property transaction. In this case, the house, or “new home” is the buyer’s main focus of the transaction. It’s exciting and it’s a lifestyle change, often for an entire family. School zones, work commutes, friends, furniture, decorating… you name it… there are many many items that can distract a buyer from the real focus, which is the 6-figure, or in some cases 7-figure, monetary transaction.
That monetary and legal transaction behind that new home, and ALL the legally binding details of it, are where the real estate attorney proves to be extremely valuable.
Necessary?
No.
Wise?
Absolutely.
Why?
Because while there are 100’s of details involved in this lifestyle change, having a legal professional to represent your best monetary and legal interests can be priceless. And the cost of legal support is often times one of the smallest fees on the closing statement!
A few items to note that a buyer will be represented with:
- Review and advise on the purchase agreement and final contract.
- Review and clear title issues.
- Review the accuracy of the appraisals
- Review and advise on the loan terms and agreement.
- Review and advise on inspection report.
- Confirm all stages of the transaction are properly cleared and meeting deadlines.
- Attend closing and review all final documents.
- Draft documents such as rental agreements, leases, and deeds for higher priced purchases or conveyance transactions.
We invite either side of a real estate transaction, residential or commercial, to contact us for representation. Our office is located in Royal Palm Beach, FL and serves the entire South Florida region from West Palm Beach through Miami.
The Law Office of Donna Hearne-Gousse, P.A.
(561) 582-5670