Why you should consider consulting an attorney for a residential real estate purchase

The purchase of a home is likely to be one of the largest financial transactions you will experience in your lifetime. Therefore it is vital that you understand everything that goes into making it happen and are confident that the transaction is beneficial to both you and the seller.

While you may think hiring a real estate agent is your only option for completing your purchase, there are attorneys who can assist and help you to better understand all the state laws and fees set by other individuals involved (agents, lenders, appraisers, inspectors, etc). As well, an attorney can be familiar with residential property laws in South Carolina so you do not have to personally master all the laws associated with the purchase of your new home.

Hiring an attorney

When you hire an attorney to assist you with the house purchase, he or she will be able to review the legal documents and negotiate terms on your behalf. A lawyer can also help with other important details:

• Ensuring the contract follows South Carolina laws
• Evaluating mortgage options while explaining terms to you
• Navigating closing procedures
• Helping decide whether purchasing the home jointly with a spouse is beneficial for your situation
• Filing real estate deeds

Another important aspect to be aware of is whether the home has a clear title. Many attorneys are able to run a title search quickly and at a low cost. They can then find out if there are any liens or judgments that the seller must take care of before legally selling the property.

Ensuring a fair sale

South Carolina set up the Real Estate Commission to protect the public when involved in real estate transactions. Local attorneys are typically familiar with these laws regarding real estate brokers and salespersons and understand how to protect your rights and ensure your real estate transaction is legal and fair.