Real Estate Attorney in Plainville, CT

Buying a home is one of the most stressful things many of us do during our lives. The purchase involves large amounts of money, large amounts of time and, perhaps most important, large amounts of trust. It often means having to answer personal, reflective questions, like “Is this home really in my price range?” “Will I be able to afford monthly payments for the next 20 or 25 years?” “Is this really a good investment of my money?”

If you’re feeling stressed out from just reading this first paragraph, you can imagine that choosing a great real estate attorney is going to be a very important part of your process — and something that you can do fairly easily, once you know what you’re looking for. And that’s the point of this article — to help you find legal advice easily.

Jennifer Coston, an attorney who practices real estate law with Jainchill & Beckert, LLC in Plainville, Connecticut recently talked about what makes a good real estate lawyer, and what kinds of services a good lawyer can provide for you as you go through a real estate transaction – specifically, the purchase of a home.

One of the Best Real Estate Lawyers in Plainville

She gave us a few of the questions she is frequently asked – probably questions that you, as a potential buyer, have. Attorney Coston has vast experience in handling legal documents and title search documents, working with mortgage brokers, overseeing the payment of closing costs, and more.

Do I Need a Real Estate Lawyer? If I’m Buying a Home From a Family Member or Friend, Can I Just Save My Money and Use Online Forms? Or Can a Realtor Help Me Through the Legal Process of Buying a House?

The purchase and sale of real property — land and any structures on it — require knowledge of Real Estate law. Real estate law also covers legal issues related to anything attached to the property or structures, such as appliances and fixtures. Attorneys who specialize in real estate ensure that proper procedures are followed during the acquisition or sale of property. They also may be concerned with how a property is zoned for usage.

Real estate law covers deeds, property taxes, estate planning, zoning, and titles. If you are buying a home or property in Connecticut, it’s important to involve an attorney. According to Attorney Coston, that’s for your own good. “Representing a buyer is very complex,” she explained. “If a real estate broker or agent is involved on behalf of the buyer, we work closely with that professional to be sure we are guiding our client appropriately through the legal issues of home buying.” She continued, “But if there isn’t someone else representing them, the process is much more complex.

We provide a wide variety of services to help make the process smooth. If you don’t have a broker assisting you, we will handle scheduling – things like establishing dates for home inspections, mortgage contingency dates, and closing dates. We also handle the disbursement of funds for both buyer and seller when we’re representing the buyer – that alone is worth the value of a good real estate attorney.” Attorney Coston highly recommends that buyers work with a realtor for a broad range of services.

“Realtors can help a lot with follow-up to be sure that important dates are being met. Sure, you have to pay them a commission, but a good agent or broker adds a lot to the real estate process, just as a good law firm does.” Of course, in a “for sale by owner” real estate transaction, it’s even more important to have a knowledgeable real estate attorney providing legal advice. It has been a seller’s market over the last few months, and many sellers are looking to maximize their profit by selling their own property without using a real estate agent.

“Today, because of interest rates, people are more drawn toward selling residential property themselves. We are seeing around 20% of these kinds of transactions. Again, without a realtor, the process is more complex for everyone in the transaction – seller, buyer, and attorney. When it comes down to it, real estate lawyers do more work in these self-driven transactions, so the price is comparable whether you are a seller or a buyer. ”

What Should I Look for When Hiring a Real Estate Lawyer?

Attorney Coston says that choosing the right real estate attorney is one of the most important things you will do when buying a home. Rather than just diving into an attorney directory and picking out a name, it’s worth doing some homework. In addition to someone who has handled lots of real estate transactions and has an overabundance of great reviews on social media sites (admit it — that’s where we all go first!), she recommends looking for someone who:

1) Has extensive knowledge of the local market;

2) Understands real estate law, including laws for different types of property, the rules that apply to different housing communities, and other requirements set forth by the state division of real estate;

3) Is experienced in dealing with real estate agents, lenders, and other professionals ;

4) Knows how to deal effectively with all parties involved in the sale/purchase, including the title company, mortgage broker, and others who deal with title issues, complex contracts, and sometimes even civil litigation as it relates to personal property.

As you consider the many good real estate attorneys out there, ask friends, co-workers, and family members who are property owners if they’ve had a good experience. It’s also valuable to check references when you can. Any reputable real estate lawyer knows that buying a home means laying out a large sum of money, and they will understand you want to protect your investment the second you consider making it.

What Role Will a Real Estate Attorney Play in the Process of Buying a Home or Other Types of Property?

What your attorney will contribute depends largely on whether or not a real estate agent or broker is involved. “We often get clients based on realtor referrals. Realtors are a great asset because they handle so many of the details that a buyer can’t possibly know about — things like how long it may take to schedule a home inspection, or what to expect with a title search,” said Attorney Coston.

She continued: “Whether or not real estate brokers are involved, once we know that a house is under contract, we send over a client agreement that outlines what will be done and acknowledges that we will give that client honest and fair representation.”

“When a realtor is handling the purchase or sale, the next thing that happens is that your real estate attorney will ask for the contract from that realtor and then lay out a timeline. Things like home inspection, mortgage contingency, and other important dates that must be met – are set in the purchase contract. And many times, extensions are needed based on circumstances or situations.

As an example, if you are buying during a busy time in the real estate market or a busy season, key players like lenders and home inspectors may be harder to connect with. A good lawyer can help you keep the process on track.” “If no realtor is involved, we, as attorneys for the buyer, draft the contract and set the important contingency dates.

We work with the client directly, advising on setting dates for activities and deadlines that will have to be met before the property can be legally transferred.” Coston continued, “I ask that the agent send the contract, and I review it. I keep track of important dates – mark down contingency dates, home inspections, mortgage contingency, and dates that must be met. , Sometimes, extensions are needed, especially when lenders, appraisers, and home inspectors are very busy Once the lender sends me the title request, I order the title search.”