HICKSVILLE, N.Y.— When you’re on the hunt for a new home, you may be debating whether to hire a real estate agent, real estate lawyer, or both. Each individual has their own areas of expertise and it’s important to have both professions represented on your home buying team. Real estate attorney Long Island, Markotsis & Lieberman Esq., explains the difference between a real estate agent and a lawyer.
Finding a competent real estate agent is often the first thing people think of when they start their home buying journey. An agent can be an integral resource during the process, especially if you’re considering purchasing property in a different state or country. They can assist in gathering information about specific neighborhoods you’re interested in, scheduling viewings and even preparing a market analysis. Your agent should have adequate experience and knowledge of the real estate industry and be able to spot defects, negotiate the price and keep your best interests in mind.
It’s also imperative to have a knowledgeable real estate attorney throughout the home buying process, beginning from when your offer is accepted and you are about to receive the contract between the buyer and seller. When it comes to property negotiations, complex issues can arise regarding the title, boundary lines, zoning and more. Your lawyer will investigate the property’s ownership background, legal description, and survey. They will also work with the buyer to ensure that the buyer understands their mortgage agreement and that the title to the property is clear with no liens or judgments. A real estate attorney will protect the buyer from most foreseeable risk associated with purchasing a property.
Now that it’s been established that a real estate agent and real estate attorney perform different but necessary functions, it’s also important to be mindful of a real estate question vs. a legal question. Many buyers have trouble differentiating what pertains to your agent and what should be discussed with your lawyer. If you have a simple question about the property such as the square footage, you can ask your agent. However, most questions will have legal ramifications and you should be advised only by your attorney. These questions can include things like canceling the purchase contract, financial deposits or a shared driveway easement. A good real estate agent should know when to refer your questions to your attorney.
A real estate agent and a real estate attorney are both extremely important people to have in your corner when you start the process of purchasing a property. Although it’s common to have some confusion amongst the two roles, you can reference this overview to help clarify matters.
About Markotsis & Lieberman, Esq.: Markotsis & Lieberman, P.C. Real Estate Lawyer is a general practice law firm. Practice areas include real estate, litigation (commercial and civil), business formations, agreements and transactions, and wills, trusts and estates. Our team of seasoned attorneys are here to guide you through every step of the legal process providing personalized attention to every client. When you’re facing a complicated legal situation, our team of legal experts is there to fight for your rights