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Get a lawyer before you need one in real estate

If you are considering buying real estate, it is wise to involve an attorney who can evaluate all the terms of the purchase and help you navigate the tricky terrain of real estate. While most transactions are relatively uneventful, when problems arise in a real estate deal, they are usually like accidents during a NASCAR event — spectacular and costly.

Like any endeavor that involves lots of complex documents and thousands upon thousands of dollars, the details can be everything. To make matters worse, many realtors save time and money by using standardized forms for many different deals, which can lead to legal loopholes that create unnecessary liabilities. An experienced attorney can help you review all the documents in the process and address issues before they have the opportunity to become disastrous.

There are also a number of ways that a buyer can be held liable for large costs, even if the sale does not go through. An experienced attorney can ensure that you do not enter into a suspicious or poorly designed deal, regardless of the quality of the underlying property. No matter how great a property may be, a bad deal can turn a great opportunity into a total lemon, saddling you with unexpected expenses that deplete the value of the property or leave you with little capital to do renovations.

Real estate transactions can and should be straightforward and painless. However, it is always a wise move to bring an experienced real estate attorney on board to grease the wheels and ensure that everything flows smoothly. Should things go off the rails, you'll be glad you did.

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