Buying a Home

By Brent Rosenthal

Do I need an attorney to purchase a home?

For most of us, a house is the biggest investment of our lives. Buying a house involves many serious legal issues affecting the rights and obligations of both buyers and sellers. Not only will the parties enter into a legally binding contract, but buyers will be presented with many complicated documents at closing, including those related to the mortgage loan. While most purchases proceed smoothly, misunderstandings about obligations and rights of the parties are frequent. Having an attorney to negotiate the purchase contract and explain the many loan and closing documents will ensure that your purchase transaction goes without a hitch.

Why do I need an attorney if I have a realtor?

Realtors have general knowledge about many issues involved in the purchase of a house, but they don’t have the depth of knowledge concerning such critical issues as contract obligations and interpretation, title, mortgage loan obligations and the many other issues that can trip up buyers. Only an attorney can guide buyers through the maze of these important issues.

At what point do I involve and attorney in the process of buying a house?

Before you sign anything! Once you sign a contract, you are obligated under its terms. If the contract is deficient or insufficient, once the other party signs, you’re stuck with it. Make sure an attorney either prepares the contract or assists in its drafting. At the very least, if you didn’t have time to engage a lawyer, make sure the contract states that it is contingent on buyer’s attorney review and approval.

Can any attorney help me with purchasing a house?

Make sure the attorney you hire is experienced and knowledgeable in the specific area of residential real estate. As with any other area of law, residential real estate is a specialized area of legal knowledge and skill. The Ohio State Bar Association and the Ohio State Supreme Court certify specialists in the area of residential real estate. These attorneys pass a rigorous test and are required to fulfill increased continuing legal education requirements and their expertise can be most helpful.