Now that you’ve found the perfect place and arranged for a mortgage, congratulations are in order on buying your first home. But even as you’re excited about closing the transaction, the process can be somewhat intimidating. After all, investing in real estate is one of the biggest purchases you’ll make in your lifetime. You probably realize that retaining an attorney with experience in Oklahoma real estate law is a wise move, but worry about the cost. Here’s why having a lawyer help you navigate the process is a worthwhile investment.
The seller’s real estate agent is on the other side of the table.
Even if the agent is the primary person that’s been taking you to showings and discussing your options, it’s important to keep in mind that he or she represents the seller. The agent motivated by getting the highest price for the seller, not negotiating a lower price for you. Plus, the agent earns a commission on the sale of the home: The higher the price, the higher the commission. Real estate agents are regulated under Oklahoma law to prevent serious abuses, but there is still potential for conflicts of interest if you don’t have a lawyer on your side.
Purchase and mortgage documents can be complicated
Deeds, title searches, and loan documents can be difficult to comprehend, especially if this is your first new home. Still, you will be legally bound to abide by the terms of the transaction, or you face serious consequences. Considering the amount of money involved with the purchase of a home, it’s wise to consult with a real estate attorney so that you fully understand your obligations.
Real estate agents cannot provide legal advice
Regardless of whether you retain your own real estate agent, this person cannot dispense legal advice or answer certain questions of a legal nature. A real estate attorney can provide advice to guide you through the process.
It doesn’t matter if you’re buying your first home or have been through the process dozens of times; it’s smart to have a qualified Oklahoma real estate attorney on your side. Other parties to the transaction aren’t acting in your best interests, so you’re at a disadvantage unless you retain a trusted legal advocate to protect your rights. Whether you’re just starting to look or are already getting ready to close on your new home, a lawyer can help. Contact the Law Offices of Robert R. Robles today at (405) 232-7980 for more information.