A real estate transaction is typically the largest and most expensive transaction most people ever encounter. With so much at stake, it only makes sense to give all real estate transactions the specialized attention required to ensure legality and fairness and to ensure the rights of all involved protected before, during and after the deal is closed. Protection during a real estate transaction is not just one-sided either as both parties in Michigan need protection as the deal unfolds.
There are issues that can derail a real estate transaction before anyone sits down to sign on the dotted line. The inspection that takes place before the property changes hands can be a real sticking point and may require legal assistance. If unexpected issues are found during the inspection, such as hazardous materials, there has to be a plan going forward. Without legal support and the understanding of options, this kind of situation can result in one party not getting a fair resolution or footing the bills for a resolution he or she should not have.
Paperwork mistakes or misunderstandings can easily lead to problems for any real estate deal. The drafting of a sales agreement is a vital part of the process. That agreement is often negotiated before both sides sign anything. Not having the proper support during this stage of the transaction can result in getting less for the money or agreeing to provisions that are not entirely fair or common.
The need for legal support during real estate transactions is for the protection of all involved regardless of the size the of the deal. Michigan residents buying and selling any piece of real estate have rights of which they may be unaware, and they also have more options for negotiations than they may realize initially. Our firm has more information online about the benefits and scope of legal representation during real estate transactions.