Homes are a large financial investment and one that you wouldn’t want to take lightly. Just like you may seek expert advice for large stock investments, it would make sense to procure the services of a real estate agent when purchasing a home in NEPA. However, many people don’t despite the fact that in the long run, it can save you big! If you are considering the next step in real estate, here’s how to buy a home in NEPA and how a real estate attorney can help.
1. Determine your budget, location needs, etc.
We all have those ideas of what makes the perfect home. Maybe it’s a garage with parking for two. Or an expansive living room with an open floor plan. Perhaps, it’s bountiful storage. Unfortunately, when we begin to list only the physical wants and not add in the needs, it can quickly cloud your judgment in the home buying process.
You’ll need to consider what is essential to you and/or your family. Note:
- Location needs (school district, commute to work, etc.)
- Budget goals
From there, you can narrow down your search.
2. Find a real estate agent.
A real estate agent is not the same as a real estate lawyer. While many people think of an agent as a set of keys to see the homes they may want to purchase, they actually do a bit more than that.
A real estate agent can represent buyers or sellers– in Pennsylvania, they may even represent both. In addition, they will provide you details about the home, walk you through the paperwork, and communicate with you any needs by both parties.
However, in many states, it is illegal for real estate agents to offer legal advice to their clients. According to The National Association of Realtors® Code of Ethics, realtors are not allowed to practice law as an agent, meaning they cannot draft legal documents or give legal advice to buyers or sellers.
But a real estate attorney can.
3. Find the home.
Easier said than done, but finding the home is half the battle, but once you do, chances are if you are in a competitive market, the process may move quickly. At this point, you may be ready to make an offer. This is where some wish to enlist the services of a real estate attorney.
4. Get a home inspection after submitting your offer.
Though it is possible to get an inspection of a home before you submit an offer by seeking permission from the homeowner, many people will have the inspection done once the offer is placed. This serves as a negotiation tool should issues arise.
Once you are satisfied with the completed inspections, it’s time to close and create the contract.
5. Have your real estate attorney review the title and contract.
Things always pop up when you least expect it, don’t they? And home buying is no different. By hiring a real estate attorney to guide you through the process, you can have these fundamental documents such as the property title and closing documents reviewed to ensure your best interests are accounted for since your attorney works for you–not the seller.
Your real estate attorney will help you understand:
- Closing documents
- Purchase contract
In some cases, the home you are buying may be part of a special type of sales like an estate sale, short sale, auction, or purchase from a bank or, if you are purchasing a home in Pennsylvania but you are from out of state, they can help you navigate the intricacies of real estate law to avoid any preventable issues in the future.
If you didn’t hire an attorney, but after closing you notice problems like a lien, encroachments, and easements regarding your property line, a real estate attorney can review your contracts and deeds to see where your legal rights are.
Buying a home is exciting and yet, can become very stressful. By putting your trust in a NEPA real estate attorney such as those at Mazzoni Karam Petorak & Valvano, those stressors will be no more.
Scranton Residential Real Estate Lawyers: Buying a Home
Real estate transactions are incredibly complicated. That’s why you need Mazzoni Karam Petorak & Valvano. With extensive knowledge of Pennsylvania’s real estate laws, our attorneys will make sure you understand the process and will negotiate a fair deal.
If you live in NEPA and are in the middle of a real estate transaction, now is the time to get a Scranton real estate lawyer on your side. If you live in Lackawanna, Luzerne, Wayne, Monroe, and surrounding counties, contact Mazzoni Karam Petorak & Valvano for a free consultation today.