When you’re planning to buy a home, that transaction can be complex. Whether this is the first time you’re buying or you’ve bought in the past, it’s a smart choice to have an attorney to make sure the transaction goes smoothly.
While you likely will have a real estate agent as well, there are some special actions that your attorney can help you with. They can assist you with:
- Understanding your real estate contract
- Addressing property title issues
- Being present at the closing of your real estate transaction
- Arranging for your deposits to be transferred
- 1031 exchanges, such as reverse exchanges, delayed exchanges or simultaneous exchanges
- Registering or preparing the legal documents needed for the transaction
You can complete a home purchase transaction without a real estate attorney in Kentucky, but it’s not the best idea. Even in an uncomplicated transaction, there are many legal documents that exchange hands, contracts to understand and contingencies to recognize. Your attorney’s job is to protect you and make sure that your contract is fair and binding. They will help you understand your contract and arrange for any steps that need to be taken to make this an easy transaction.
Your real estate agent can help with the negotiation process, guide you through the legal aspects of buying your home or business property and be there at closing. While attorneys are not required to be at real estate closings in Kentucky at this time, having one there with you will help you make sure that everything is done right and that the property is officially transferred into your name.