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Buying and selling real estate is one of the most important and rewarding situations but also one of the most complicated decisions that one can enter, usually with significant financial implications. In any real estate deal, both Buyer and Seller must review multiple complex documents, including legally binding papers, requiring signatures. As you enter any deal of primary concern beyond the actual real estate itself is to ask; who is looking out for you? Who is explaining your responsibilities as you sign legal documents?


I frequently hear from Buyers and Sellers that they feel nobody has adequately advised them of exactly what is going on in such transactions, making them lack peace of mind for what should otherwise be a rewarding situation. 


Real estate agents can provide sales services but they cannot provide legal advice. While they are proficient in their field of sales, they are not equipped to guide in the particularities of contract law. Also, do not forget that they are motivated by a commission. So while they may have knowledge in their area of expertise, remember that they are not lawyers and cannot give you legal advice.

The Legal Inspection

There’s no doubt that if you’re engaged in a residential real estate transaction, you will obtain a home inspector to give the house a thorough inspection prior to purchasing it. However, few people realize that you should likewise hire an attorney to perform a “legal inspection” of the documents at issue, especially before you sign anything. 

Before you Sign Documents

Of most importance is retaining a real estate attorney prior to signing an Agreement of Sale. The Agreement of Sale, once signed, is a legally binding contract. Pennsylvania does not allow either party the right to terminate a deal in a residential Agreement of Sale, based on the language of the document alone, after it has been signed. Therefore, it is crucial to have an attorney review all documents, to insure that you understand exactly what you are about to become legally bound to, before you enter a transaction. 



While is preferable that I am retained prior to signing any documents, I can still be retained in an advisory capacity as you move closer to settlement. I offer services to advise on all aspects of your transaction. Even after signing the Agreement of Sale, there are still many circumstances where legal advice will ease the process. Those steps include, review of inspection reports, mortgage documents, title commitments, and reviewing settlement documents.

Attorney at Settlement

Even if you have not had representation at the start, or even during the time leading to settlement you may be seeking legal representation at the end of your deal at the closing table.


Settlement is also a critical step in the real estate process and I am often retained to give the final documents, including most importantly the Uniform Settlement Sheet (HUD-1) the title commitment and the Deed, a legal review, to insure that as your transaction closes and your interests are protected.

CONTACT ME FOR A PERSONALIZED REVIEW

Contact Tadross Law now to discuss your real estate situation!

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