I have been asked many times, whether it is important to hire an attorney to go to the real estate closing for the sale or purchase of real estate. I usually answer that you may not discover until you are in the closing that you need an attorney, which at that point, it is too late to hire an attorney. Sometimes you discover as you are going through the process that there is an issue or issues and it will be to your benefit to have an attorney representing you. This will likely be the largest purchase of your life and it is best to be proactive and protect yourself.
If you are purchasing real estate and a realtor is not representing you, it is probably a very good idea to have an attorney review the contract and advise you as to the process and what you should be doing. If you are selling real estate and a realtor is not involved, you will probably need to have an attorney assist you in making sure that you do everything that needs to be done to be able to complete the sale. Sometimes, even if you have a realtor representing you in the transaction, you may need an attorney.
The standard contract for the purchase and sale of real estate in Winnebago County contains a provision which allows either party to have an attorney review the contract and possibly disapprove of the contract within seven (7) business days of the acceptance of the contract. This can protect you although there are some things which should be done immediately after entering into the contract and the failure to take action can be a mistake.
If you are buying or selling real estate and you want to minimize your chances of making a mistake or you want assistance to help you through the process and make the process as smooth and easy as possible, contact me, real estate lawyer Brian K. Larkin or call 815-964-4601 to schedule a free initial consultation.