Protecting your interests as a first-time homebuyer

On Behalf of | May 1, 2017 | Residential Real Estate

Buying a home is exciting, but it is a major financial and legal step for a first-time homebuyer. Purchasing a residence can be quite a complex process, and a buyer will find great benefit in working hard to avoid common pitfalls and legal complications that can arise before and after a sale is final.

If you are considering making your first home purchase in New York, you would be wise to seek the help of an attorney to provide guidance along the way. By making this effort to protect your interests, you may be able to avoid the problems that often plague first-time buyers. An experienced legal ally can help you effectively navigate this process from start to finish.

Why should you have an attorney?

Buying a home is one of the most significant purchases that you will make in your life. Real estate law is complex, and special issues can arise during this type of transaction that can affect your financial stability and your life after the sale is final. Many people forgo the assistance of an attorney for this process, but first-time buyers will find it particularly useful to have assistance with the following aspects of a purchase agreement:

  • Possible unlawful alterations or additions made to the property
  • Potential future changes to be made by the buyer
  • Discovery of lead paint, asbestos or other hazardous material
  • Discovery of hazardous waste on property
  • Legal and financial consequences if closing does not take place

These and other matters are important considerations when buying a home, but you may have no idea how to begin to protect yourself and your financial interests. Many factors could unexpectedly affect your purchase or potentially compromise your rights, but you do not have to face these contingencies alone.

Avoiding mistakes during a major transaction

In addition to ensuring that the terms of your purchase agreement are appropriate and provide for the protection of your rights, an experienced real estate attorney can help you avoid even the smallest of mistakes throughout the entire process. From title issues to closing, even one small error can lead to expensive complications related to the following:

  • Closing agreement
  • Inspection
  • Contract signing
  • Mortgage approval
  • Title search
  • Final walk through

When you have a legal ally advocating for your interests, you can save time and money by avoiding financial and procedural errors in your first-time home purchase. If you are taking this important step for you and your family, you deserve to have experience on your side.