Buying a house is a massive economic undertaking that inspires an assortment of challenges and expenses. Those hoping to purchase real property often want to minimize the total price tag in whatever way they reasonably can.
One of the ways that people reduce their costs involves going to the table without a closing attorney. They may work with just a real estate agent or a paralegal. While people assume that a little support is better than no support at all, they may expose themselves to unnecessary risk by moving forward with a real estate transaction without a closing attorney.
Why is having a lawyer present so important for those buying real property in North Carolina?
Little details make a big difference
Real estate agents are often unfamiliar with how the North Carolina courts interpret certain contractual clauses. They may have very limited knowledge of real estate statutes. They may also fail to properly review contracts and offers.
Those who work with the lawyer can feel confident about the degree of review performed before they sign the legally-binding documents utilized in a real estate transaction. They can include protective contingencies in their offers and integrate other beneficial terms into the final closing paperwork.
They also have a better chance of spotting discrepancies between the final documents and the initial offer they negotiated. Working with a professional who can create custom documents and spot issues with existing paperwork can extend valuable protection to vulnerable buyers.
There is already someone familiar with the situation
Most real estate closings move forward with minimal conflict, but sometimes real issues arise. Those disputes may lead to a canceled closing and possibly even litigation. It can be frustratingly slow to look for a real estate attorney has already started unfolding.
Those with an attorney already assisting them in the closing are in a much better position if issues arise with the contract or the closing process. They have a lawyer ready to advocate for them and inform them of their rights in what could be a very frustrating and confusing situation. As such, obtaining the right support early in a real estate transaction can increase someone’s chances of securing the most favorable outcome possible.