Buying a home will probably be the largest and most significant purchase you will make in your life. It also involves the law of real property, which is unique and raises special legal issues and problems not present in other transactions. A real estate lawyer is trained to handle these problems and has the most experience to deal with them. Making a PurchaseIn the typical home purchase, the seller enters into a contract with a real estate agent, usually in writing. When the broker finds a potential buyer, they conduct the negotiations and most often act as an intermediary (the go-between). Once an informal agreement is reached, the buyer and seller enter into a formal written contract for the sale of the new home. This is known as the purchase agreement. The home buying process then follows the following steps: The process seems simple, but without a lawyer, the consequences may be more disastrous than purchasing a car that turns out to be a lemon or a stock investment that was unwise. Avoid Vague or Unclear Terms In Your Real Estate ContractA lawyer can help you avoid some common problems with a home purchase or sale. For example, a seller may sign a brokerage agreement that does not deal with a number of legal issues. This happens quite often as realtors often use standard forms, expecting that they will cover all situations. In the absence of an agreement to the contrary, the seller may become liable to pay a brokerage commission even if a sale does not occur, or they may be forced to pay more than one brokerage commission. If the agreement allows the seller the right to negotiate on their own behalf, however, you may avoid this potential problem. It is thus recommended that the seller have the advice and guidance of an attorney with respect to a brokerage agreement. Even if the agreement is a standard form, its terms should be explained to the seller and revised, if necessary. Consider a Real Estate Lawyer ConsultationEven if a lawyer is not needed during the course of negotiations, both the buyer and seller may want to consult with a lawyer to answer important legal questions, such as the tax consequences of the real estate transaction. The tax consequences may be of critical importance to a home seller. For example, the income tax consequences of a sale, particularly if the seller makes a large profit, may be considerable. An attorney can advise whether the seller can take advantage of tax provisions allowing for exclusion of capital gains in certain circumstances. Real Estate Purchase AgreementsThe purchase agreement is the single most important document in the transaction. Although standard printed forms are useful, a lawyer is helpful in explaining the forms and making changes and additions to reflect the home buyer’s and the seller’s desires. There are many issues that may need to be addressed in the purchase agreement, such as: Is the closing conditioned upon the buyer obtaining financing?Most buyers finance a substantial portion of the purchase price for a home with a mortgage loan from a lending institution. The purchase agreement should contain a carefully worded provision that is subject to the buyer obtaining a commitment for financing. Real Estate Title SearchAfter the purchase agreement is signed, it is necessary to establish the state of the seller’s title to the property to satisfy the buyer and the financial institution. Generally, a title search is ordered from an abstract or title insurance company. In some states, title insurance is not typical. In these cases, an attorney is essential to review the status of title and give an opinion of title in lieu of a title policy. Assuming you are in an area where title insurance is customary, an attorney can help review the title search and explain the title exceptions as to what is not insured. They will also determine whether the legal description is correct and whether there are problems with adjoining owners or prior owners. In addition, an attorney can explain the effect of easements and agreements or restrictions imposed by a prior owner, and whether there are any legal restrictions which will undermine your ability to sell the property. The title search does not tell the buyer or seller anything about existing and prospective zoning. A lawyer can explain whether zoning prohibits a two-family home, or whether planned improvements violate zoning ordinances. Real Estate Title ClosingThe closing is the most important event in the purchase and sale transaction. The deed and other closing papers must be prepared. At the closing, title passes from seller to buyer, who pays the balance of the purchase price. Frequently, this balance is paid in part from the proceeds of a mortgage loan. A closing statement should be prepared prior to the closing indicating the debits and credits to the buyer and seller. An attorney, here, becomes helpful in explaining the nature, amount, and fairness of closing costs. Once the deed and other closing documents are signed, an attorney can make sure that these documents are appropriately executed and explained to everyone. Importance of Having a Lawyer During ClosingThe closing process can be confusing and complex to the buyer and seller. Those present at the closing often include the buyer and seller, their respective attorneys, the title closer (representative of the title company), an attorney for any lending institution, and the real estate broker. There may also be last-minute disputes about delivering possession and personal property or the adjustment of various costs, such as fuel and taxes. If you are the only person there without a lawyer, your rights may be at risk. A broker generally serves the seller, and the lender is obtained by the buyer. Both want to see the deal go through since that is how they will get paid. However, neither can provide legal counsel. If you want peace of mind when making one of the biggest purchases of your lifetime, you should consider speaking with an experienced real estate attorney. Military Attorney and LawyersA military lawyer’s job is similar to a civilian lawyer in their day-to-day duties. Representing clientele under jurisdiction of military courts and law is the primary difference. The military attorney works exclusively with military personnel and may represent them in civil and criminal cases. Each Military lawyer may work within any branch of the Navy, Army, Marines, or Air force even though each branch has their own Judge Advocate Generals (also known as JAGs). Military personnel may contact any military legal assistance office if they need legal representation. A Jag practices law in a Military court including court-martial, military review, Military Court of Inquiry, and the U.S. Court of Appeals for the Armed Forces. A Jag will go through the same educational process of a civilian lawyer. Military attorneys will need to know general law as well as military law. They can either become a JAG after entering the military, or they may enter the military with the JAG requirements completed. The role of a military attorney is as broad as that of a civilian attorney. They will participate in matters of both civil and criminal nature. One of the primary differences of a military court is the military tribunal that deals with enemies during wartime. Some of the roles of the military lawyer include: A military attorney must possess an excellent understanding of all parts of civil and military law. Their advice and actions not only affect individuals, it may also reflect on their branch of service and the United States Government. They must be able to work under pressure while maintaining a cool decorum. They will need to have excellent communication skills both in the courtroom and out. Their ability to represent a broad range of clientele, from a young enlisted soldier to a high-ranking commander, requires they are comfortable communicating across the ranks. Examples of Cases for Military LawyersThe military court, while similar to civilian court, also differs. Therefore, the cases that a military lawyer participates in may be different. A few examples are: Military Real Estate Lawyer Free ConsultationIt’s not a matter of if, it’s a matter of when. Legal problems come to everyone. Whether it’s your son who gets in a car wreck, your uncle who loses his job and needs to file for bankruptcy, your sister’s brother who’s getting divorced, or a grandparent that passes away without a will -all of us have legal issues and questions that arise. So when you have a law question, call Ascent Law for your free consultation (801) 676-5506. We want to help you!
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