In Pennsylvania, it is helpful for potential property owners to consult an attorney before buying a home. While it is not a requirement, it could prevent them from falling victim to predatory lending practices and real estate agents who are more concerned with their commission than the buyer’s best interest. If you wish to review applicable laws, you should contact Real Estate Lawyers to help you.
Why Do You Need an Attorney?
Protecting your interests during the buying process is your own responsibility. As a buyer, you are not under contract with anyone. Although you can work with a real estate agent, you are more likely to come in contact with the seller’s agent. When this is the case, he or she will be more motivated to sell the property than to disclose all the fine details of the property to you. Under these circumstances, it isn’t possible for you to acquire a fair deal.
Reviewing the Contract
When you decide to buy, you should take the sales contract to an attorney for a complete review. This allows you to determine whether there are hidden charges or clauses that are unfair to you. Your attorney should also review the inspection report as well. This allows them to determine whether the seller is obligated to make repairs under the building code regulations.
Your attorney can review the mortgage contract offered to you. It is urgent that an attorney determines whether or not the mortgage lender has offered you the best interest rate possible based on your credit rating. The attorney can review current rates and determine if the lender presented false information to you to acquire a higher rate to capitalize on your misfortune.
You should hire Real Estate Lawyers to help you through the buying process and protect your legal rights. This eliminates the possibility of fraud or failure to disclose all details related to the property, mortgage, or insurance requirements. If you are ready to hire an attorney, you should visit Dan Walker Law Office today.