Have you decided to buy a house that caught your interest while searching? Although you may be satisfied with the price and look of the house, there may be hidden problems that you are unaware of. Rather than possibly wasting your time and going through the closing process, you might want to get assistance from a real estate attorney first. Take a look at this article to find out how an attorney can be helpful when buying a house.
1. Investigating for Foreclosure
If you are amazed at finding a nice house for a great price, there might be a reason why it is being sold at such a discount. For instance, it is possible that the house is currently undergoing foreclosure and the owner is trying to sell it while he or she still has possession. An attorney will do a thorough investigation to make sure you are not buying a house that you might lose shortly after making the purchase.
2. Digging for Unpaid Liens
One of the services that a real estate attorney will provide is a search for unpaid liens on the house that you are considering. A lien means that the owner owes a lender some money. Basically, the owner puts the house up as collateral for obtaining a loan. If a lien is present, you can end up in a position where you must pay it off in order to keep possession of the house. An attorney can negotiate with the owner if any liens are found and requests that the money is paid off before you purchase the house.
3. Ensuring That You are Buying from the Owner
You must keep in mind that sometimes fraudulent sales are done in the real estate industry. For instance, someone can pretend to own a vacant house and try to sell it to make some fast money. An attorney will do a title search to find out who actually owns the home that you want to buy. The search will include any names that are listed as the beneficiary of the house in the form of a will.
4. Making Sure Closing Goes Well
If you decide to move forward with buying the house, closing on it will involve a lot of paperwork. An attorney will make sure you understand everything that you are signing, which can help you avoid signing a bad deal and not finding out until later on.