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How an attorney can help with a first-time home purchase

Navigating the real estate purchasing process can be confusing and stressful, especially when you’re buying your first home. Yet, you have to take control of it if you want to get a fair bargain that protects your interests in the property in question. But looking at unfamiliar documents and hearing for the first time about laws applicable to the real estate industry can leave you uncertain of where to turn for help. While a real estate agent can help you to a certain extent, you might best protect yourself by having an attorney on your side.

How can a New York attorney help you with a first-time home purchase?

Fortunately, you don’t have to weave your way through the real estate market and the purchasing process on your own. There are several ways in which an attorney can help you during your first home purchase. This includes:

  • Negotiating on your behalf: Attorneys spend a significant part of their career developing negotiation strategies and advocating for resolutions that are favorable to their clients. Therefore, with an attorney by your side during the home buying process, you can rest easy that you have someone on your side who knows how to effectively negotiate for what you want. This is important given how competitive the real estate market is, as it can increase your chances of securing the home that you want. But an attorney can also help you set realistic expectations during negotiations so that you don’t wind up trapped in a purchase agreement that you can’t afford.
  • Reviewing documents: There’s a lot of documentation involved in the purchase of a home. Contracts with the real estate agent and home seller, title information and inspection reports can all be difficult to decipher. An attorney can help you interpret the terms contained within this paperwork so that you have a clear understanding of what you’re reading and potentially agreeing to. This allows you to make fully informed decisions that protect your best interests.
  • Dealing with surprises: It doesn’t happen all the time, but in some instances unexpected issues come up during the home purchasing process. For example, if a home inspection reveals mold or termite damage, how is that issue going to be resolved prior to finalizing the purchase? Or will you simply back out of the deal? Can you even back out of the deal? These are questions that an attorney can help you address.
  • Advocating in difficult situations: If your first-time home purchase has unique or challenging circumstances, then you might best protect your interests by having an attorney by your side. For example, if certain zoning regulations may impact your vision of the home’s future or if there are difficult issues that need to be negotiated with the seller prior to signing off on a purchase agreement, then you need someone who can assertively represent your interests. If you don’t have that kind of advocacy in your corner, then you might wind up taken advantage of throughout the process.

Don’t miss key opportunities in your first-time home buying experience

The home buying process can be completely overwhelming, especially when you’re navigating it for the first time. But don’t let the complexities of it all make you complacent. You shouldn’t let others make important decisions on your behalf that could jeopardize your financial stability and your enjoyment of the home in question. That’s why before embarking on the home buying journey you should carefully consider whether the assistance of an attorney would be beneficial to you.