Many people wonder if it’s necessary to incur the additional expense for an attorney for the purchase of real estate. The simple answer is, in many cases, your interests can be appropriately handled by a competent realtor.
Additionally, in Pennsylvania, most realtors use “form” real estate contracts that are not weighted either pro-seller or pro-buyer. After the agreement is signed, an experienced realtor should also be able to address and negotiate the usual things that come up, such as the results of a home inspection.
Having said that, in a significant number of instances it is advisable to seek the advice of an attorney before entering into what will likely be one of the largest financial commitments of your life. As well, it is good to remember that lawyers, like most professionals, have increasingly specialized capabilities. So, you should seek out the advice of an attorney who has experience in this area of law. Sadly, many attorneys are not willing to give up this information unless specifically asked. Also, don’t rely on website information since advertising to practice in an area of law gives you no real information as to an attorney’s depth of experience. An inexperienced attorney can further botch something up due their lack of experience.
There are however, several kinds of real estate transactions that warrant the help of a competent attorney in order to ensure your interests are being protected. Some examples would be:
For a Buyer
- Is this an investment property?
- Is this a commercial property?
- Is this property part of a subdivision or Homeowner’s Association?
- Are there any known environmental concerns with the property (i.e., flood zone, buried fuel tanks)?
- Are there any easements that could restrict the use of the propert?
- Is the property for sale by Owner?
You might also check with the local municipal office as most keep a “property specific” file which could include information regarding zoning and structural issues.
For a Seller
- Do you own the property by yourself or in some kind of entity?
- Are you aware of problems with the property that will require delicate handling?
- Are there any judgments or liens against the property?
- Do you intend to invest the proceeds of this sale in another property?
If you answered “yes” to any of these questions or just feel in your gut that you should check with an attorney, it is best to do so. Most lawyers charge a reasonable amount for an initial consultation where you can ask your questions and get an estimate for some on-going help. Also, best to do this before signing an Agreement of Sale as some of these issues must be handled before an Agreement is signed.
Michael Kracht became a lawyer quite simply to help people and make a meaningful difference in their lives. It is that desire to help and go way beyond the typical “call of duty” that motivates him to be an outstanding advocate and counselor to his clients. Michael’s practice at Weber Kracht and Chellew focuses on real estate, land development, municipal law and litigation matters. Despite his busy practice, to this day, Michael is active in doing pro bono work for the community including handling protection from abuse matters.
This blog is designed for general information only. The information presented should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.
