Seek legal representation
If your car needs repair, you take it to a mechanic. If your teeth need attention, you visit your dentist. Likewise, when you are selling a home, legal representation can protect your investment.
Look for a lawyer experienced in real estate transactions. He or she can protect your interests and can ensure that the numerous details of your real estate transaction are handled correctly. In short, a lawyer’s role in acting for you, the seller, is to ensure you get what you bargain for, at the agreed price, under the agreed terms.
When it comes to selling a home, a lawyer will complete the following services:
- Act as escrow agent to hold a down payment, binder or money deposit (if working with a realtor then the deposit will be held typically with the listing agent's brokerage until closing day).
- Evaluate offers from potential buyers. Ensure that the contract is legal, valid and that you understand the conditions of the agreement (again, if working with a realtor, your realtor will be doing this for you, but you can always have a lawyer look it over as well and add a condition in the offer stating this).
- Host and handle the closing.
- Evaluate financial arrangements.
- Ensure that the adjustments are properly calculated and that the purchase monies have been properly disbursed.
- Advise you on the tax and estate issues of the sale of the home.
The sale of your home is a precise and legal procedure that must be accurately completed to protect your rights and profits. Knowing how to handle all of these details means the difference of thousands of dollars in your pocket.