BETHESDA, Maryland. When you are buying a house, you may have many questions. For most of us, the purchase of a home is the largest investment and purchase our family will make. Because this is a process most experience only once or twice in a lifetime, it is important to have qualified professionals working on your side. Individuals may believe that their real estate agent is working in their best interests, but this is not always the case. For example, according to the real estate Law Offices of Michael E. Gross, in Bethesda, Maryland, unless you have signed a buyers’ brokerage agreement with your real estate agent, he or she represents the seller. This means that your agent may not be legally required to have your best interests in mind during a sale. Even if you have signed a buyer’s; brokerage agreement, you may still want a second pair of eyes looking over your contract and deed. So, what can you do to protect yourself?
Consider hiring a real estate lawyer. A lawyer can read through the real estate contract and help you understand your rights during the closing process. The Law Offices of Michael E. Gross are real estate lawyers in Bethesda, Maryland who work closely with home purchasers to help them understand their rights and make sound decisions during the closing process.
For example, a lawyer can do a thorough title search to ensure that the seller is the rightful owner of the property. According to Zillow, it is important that a thorough search be conducted to ensure that there are no mortgages, liens, unpaid property taxes, easements, or other concerns pertaining to home ownership. Your lawyer can also review the title to ensure that the property outlined in the title matches the real boundaries of the yard. This can not only prevent property boundary disputes in the future, but also protect your rights and ensure that you are getting the value that you are paying for.
According to Trulia, how a property sale is recorded can have an impact on your right to make claims should anything go wrong. For example, a warranty deed is a contract made by the seller that ensures the buyer that the seller has the right to sell the property. In some cases, the seller will also guarantee that there are no other flaws in the property and that all issues have been disclosed. A quitclaim deed will offer no assurances to the buyer. If this is the deed that you are signing or being offered, it is incredibly important that you speak to a qualified lawyer before signing so that you understand fully the limitations of the contract.
There are many complex factors that need to be considered when purchasing a home. Whether this is your first home or a second home, every property will have a unique legal history that must be considered. A qualified lawyer can review your prospective purchase so that there are no surprises later.