Home Buyers Legal Advice
If you are using there is a standard agreement to buy a new home, it will be many pages in length and will cover an array of areas such as financing, inspections and repairs, closing, liability in the event of damage prior to conveyance, title work, and a number of other contingencies.
Usually there are some blank lines inserted for you to write in some special clauses, like if you want the washer/dryer to be included in the sale or if you want to include a home warranty. This ability to check off some boxes and fill in some blanks further strengthens the illusion that the client is actively engaged in a negotiation over the terms of the deal.
In truth, it is assumed that only a few items are open to negotiation and you may irritate the seller, or even your agent (who has probably been working very hard for you) if you try to try to make too many changes. You have the right to make as many changes as you like, however, including the right to scrap the contract and use one that protects you more than the standard contract! Don’t fall victim to salesmanship or psychological pressure indicating that the standard contract is what everybody signs and that there is somehow something wrong with you if you do not.
Many of the top real estate agents in the country advocate each and every client having their own attorney involved in the home sales process. This is due in part to the fact that agents are not permitted to interpret, explain or modify real estate contracts, except for filling in blank lines or checking off boxes.
To do more than this is the illegal practice of law without a license, and a good real estate agent will be careful to advise their clients that they are not permitted to take such actions.
If the inspection reports come back unfavorable, the closing date passes you by or there is a problem with the title work, you want the comfort of knowing your legal advisor was there all along and can advise you about your rights and obligations.
Having you attorney involved from the beginning may even result in many of these issues having already been addressed through modifications to the contract terms or using the contract your attorney drafted for you. Even if you have second thoughts about buying the home for no particular reason whatsoever, an attorney approval contingency period of 3-5 days in the sale contract will be enforceable in many states to get you out of the contract without any liability.
Legal advice for a residential home purchase gives you the protection you deserve and is very affordable.