Do You Need An Attorney To Sell Your House?
Short answer “No”.
It is never a bad idea to get additional feedback from a third party, especially one that has a non-vested interest in your property. It could be a family member, a close friend, or someone else you know that you trust to give good advice on the topic. It is common to consider an attorney as an option to seek legal advice as they have the expertise with regards to the law and familiarity with various contracts; which could be especially beneficial if you need help interpreting the language or have specific questions with regard to terms on an agreement. In some circumstances, it is essential to hire an attorney when dealing with Liens, a Joint Sale, Short Sale, or Estate Sale(s).
Why You Might Not Need A Real Estate Attorney
The majority of homes that are sold both on the Multiple Listing Service (MLS) or even off-market (e.g. for sale by the owner or homes sold “As Is” to a cash investor), do not use an attorney throughout the transaction. Follow here to learn more about how to Sale by Owner and save on Realtor Commissions. If you understand the terms of the Purchase & Sale Agreement (PSA) and not conducting a transaction where an Attorney is essential (noted above) then feel confident knowing you don’t need an Attorney.
Attorney's & Escrow Companies
Now, an attorney may not be needed to sell your home however, a Title and Escrow company is essential! Many times the same company can provide both services; however, there are instances when a transaction may have a Title company and a different Escrow company. Both Title and Escrow Companies are neutral third parties. The Title Company is hired to research and insure the title of the home is “clear” and able to be sold and bought; essentially transferred to another party. The Escrow Company acts as the Facilitator; they collect the required funds and documents involved in the closing process, including the initial earnest money check, the loan documents, and the signed deed.
If you're thinking about selling your home, don't hesitate to contact SK Property Buyers today to get your free cash offer!
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