Bramnick’s Blog – Why Attorney’s for Real Estate Contracts?
Consulting a lawyer can be like going to the dentist – you have to do it to protect yourself, but it’s expensive and uncomfortable.
My goal is to reduce or eliminate the pain and prevent permanent damage and the cost to repair the damage later on. How do I do that? By being your advocate and not allowing others in the real estate transaction to intimidate you or pressure you into doing something you are not comfortable with or that is not in your best interest.
There is something to be said for the words, “an ounce of prevention is worth a pound of cure.” In the real estate world, almost all agreements, contracts, etc. are in writing. You live by the written word and die by the written word. I recommend that you don’t sign a document without reading it. Have someone with knowledge explain it to you. Forms can be useful but they should be customized to your particular situation.
Remember, realtors and title officers are not lawyers. I don’t recommend signing a listing agreement, purchase contract, loan documents, or any other real estate contract without knowing what they mean.
How many of you have sold a home or bought a home? How many of you have needed a mortgage? Time and again, I hear comments such as …
“I did not know I was only paying interest on my mortgage” or
“I had no idea I would lose my earnest money if I decided not to buy the house” or
“My spouse got sick and I did not want to commit to the purchase” or
“I thought I was being transferred but I now don’t need to move or sell.”
There are steps you can take, things you can do, words you can add or delete to protect yourself. In the long run, seeing a lawyer can save you money!