Do I need an attorney for my real estate transaction?

When you are planning on buying or selling your home it can be tempting to cut costs anywhere you can. After all, you have broker fees, moving fees, and closing costs. Many people ask themselves if they really need an attorney for their closing. An attorney can actually help you save time and money, and is one of the lower costing items in a real estate transaction. For most people your home is one of your biggest financial investments, it only makes sense you hire a qualified attorney to assists you.

You need a legal advocate

Your real estate broker is not an attorney. They may have a great wealth of knowledge regarding the selling price or purchase of your home compared to surrounding areas, but they cannot give you any legal advice. A real estate transaction contains many legal papers which need to be reviewed by someone with an intricate knowledge of the law. The first aspect of a real estate transaction is negotiating your contract. You need a legal advocate to speak for your rights and give you unbiased advice. A well negotiated contract will save you time and money. It can also save you from negotiating at the closing table or post-closing litigation.

An Attorney can save you time and money

Even if you choose to not be represented by counsel, there is a high chance the other party will. After all for many people your home is most valuable assets. If you attempt to do the real estate closing yourself, you will still need to comply with Illinois law. If you are selling your property, there are many documents you will be required to provide at the closing. If an issue arises, you need to be able to remedy it swiftly. This can cost time and money, especially if you are unfamiliar with the documents needed. The last thing you want to do is breach your contract or delay and jeopardize your closing. Your broker cannot give you legal advice and opposing counsel is not there to help you. By hiring an experienced attorney from the start, you can save yourself the time and costs of attempting to navigate the closing yourself. Additionally, if any last minute closing table negotiations arise, you want a qualified litigator on your side representing your best interests.

Are planning on buying or selling property? Local attorney Andrew Szocka, Esq. provides thorough and speedy estate planning help in the Chicagoland area. To schedule a free initial consultation, visit the Law Office of Andrew Szocka, P.C. online or call the office at (815) 455-8430.

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