Law Offices of Peter V Lathouris LLC
Do I Need a Real Estate Attorney to Buy or Sell a Home in Connecticut?
Every state has its own laws regarding real estate sales. In some states, hiring a legal professional is optional for home buyers or sellers, but Connecticut is not one of those. In Connecticut, state law requires all home buyers and sellers to involve a real estate attorney in the process. You may be thinking, how would a real estate attorney help me sell or buy a house? However, having an experienced real estate attorney by your side can save you from making legal mistakes that could land you in legal and/or financial trouble later.
What Will My Real Estate Attorney Do?
You may think that buying or selling a home simply requires the signing of a contract and the handing over of keys, but there is much more to it. Real estate agents will establish the selling price and the terms in a contract between the buying and selling parties. The real estate attorney will review this contract and negotiate any repairs and adjustments that should be made to the contract. This is to ensure that everything is in order and is acceptable before officially completing the large sale or purchase.
Common Reasons for Buyers to Hire a Lawyer
In states where attorneys are not required, some buyers choose not to hire legal representation. They may see legal help as unnecessary for "simple" transactions; however, there are many situations in which a real estate attorney is crucial, including:
You are buying from out of town.
The property you are purchasing is a short-sale or is owned by the bank.
The property you are purchasing is part of an estate sale.
You are buying a commercial property.
The property you are purchasing may have structural problems.
The area where the property is located has potential problems, such as a flood zone, high toxicity levels, radon, etc.
Common Reasons for Sellers to Hire a Lawyer
Sellers should also have an attorney on their side for legal guidance. Similar to issues that buyers may face, a real estate attorney is especially important for the following situations:
You inherited the property after the owner passed away.
There is a lien or judgment on the property you are trying to sell.
The property is fairly distressed.
The person you are buying the house from is being uncooperative.
Contact a Stamford Real Estate Lawyer
As previously noted, a real estate attorney is required in all Connecticut property transactions. Regardless of the legal requirement, real estate attorneys are crucial for ensuring that the selling and buying processes go smoothly and that both parties are treated fairly. At the Law Offices of Peter V. Lathouris, LLC, we have over 30 years of experience assisting Connecticut residents looking to purchase or sell their homes. If you are considering buying or selling a house, contact our knowledgeable Fairfield County real estate attorneys for a free consultation.