North Caroline is one of the few states that require an attorney to be present at the time of a real estate closing. The attorney works for the buyer, but the seller can choose to hire a lawyer too. The role of a real estate attorney is often undermined. No matter whether you are buying a new home and need to review title documents, or have issues with your tenant, a good attorney can be immensely resourceful. In this post, we are sharing more on hiring a real estate attorney in Monroe NC.
If you have worked with one, hiring a real estate attorney can seem daunting. The good news is you can always get references from neighbors, friends, and family members. Many law firm offering real estate assistance also have their own websites, so sorting a few options doesn’t have to be hard.
Determining the role
Before you engage a real estate attorney, you need to evaluate their role in the transaction. Many people hire an attorney just for the closing, while they handle most things on their own. With no idea of how to deal in real estate, that could be a big mistake. A skilled real estate attorney will review and check title and deed transfer documents, and they usually have a fair understanding of mortgage documents and contracts. At the time of closing, your lawyer will review everything to be sure that all necessary formalities are followed.
Meeting an attorney
When you meet a lawyer for the first time, you need to discuss what you expect of them, besides asking questions about their work profile. A skilled real estate attorney knows how to offer help, and if you are struck with negotiations at some point, they can mediate. This is not to downplay the role of an agent, but attorneys can look into deals with a legal perspective. Sellers in NC need to give a disclosure form to buyers, to clear any existing problems with the property. Ask the attorney if they can help withs surveys and inspections.
Hiring a real estate attorney doesn’t have to cost huge. More attorneys either charge by the hour, or have a flat fee. You can always discuss the expenses in advance, but considering the investment is for life, a little extra for the right attorney is worth it. You should still consider asking for an estimate of costs in advance.