So, what do you think the typical house buying process looks like? If you are someone considering buying a house for the first time, it might seem to you that you have to pick a beautiful home, talk to the owners, pay the price, and settle in. However, that’s not how the process works. It is not even close to the reality you will face when you purchase a house. The process can take months, and you have to overcome quite a few challenges to get the best deal on the market.
Asaf Izhak Rubin real estate lawyer says that ensuring your house buying process goes in your favor will not be that easy. While buying the house from a seller, you are also the opposing party to the agent that represents that seller. Let’s take a look at what other information AsafIzhak Rubin has to share about the process.
Don’t Think the Agent Is on Your Side.
This is not an attempt to tarnish a particular field, professional, or industry, but the reality is that real estate agents are working for commissions. They make money when they sell a house for the party they are representing. Of course, you can hire them to help you buy a home as well. However, since you are a buyer, you want to save money in any place you can. On the other hand, the seller can tell the agent that if they can sell the house at a higher price, they can offer them a great commission. This usually works in favor of sellers.
As a result, if you are on the buying side, you have to prepare to spend a few more bucks than the actual price of the house. The real estate agent is like a party that represents the seller to you.
Home Ownership Issues Are Common
As much as you want it to be a lie, the truth of the matter is that a lot of homes have ownership issues. Many homes on the market have been transferred from the parents to their children. If there is more than one child, you can already predict that there will be an inheritance issue. You might think that the person selling you the house is the owner, but you might end up with a big shock at the end. There is no way for you to personally find out who the house’s real owner is and in whose name the documents are.
In that case, you need a real estate lawyer to help you through the process. If you read or watch real estate news, you will stumble upon information about someone ending up buying a house with ownership issues almost every other day.
There Isn’t Just One Document Involved.
As someone buying the house for the first time, you might think that you will only get an agreement in your hands, which transfers the property to you. However, that’s not the case at all. You might be handed over multiple documents of completely different natures. The deed will comprise all the details of you now being the new owner of the property. However, you might need another document that clearly states that the seller owns the house and there are no issues with the title. Last but not least, if the state charges taxes on these transactions, you will have to have tax documents available.
Final Thoughts
You can see from the information above why AsafIzhak Rubin believes everyone should have a real estate lawyer to help them through the home buying process. As straightforward as it seems on the surface, this process can be very stressful for both the buyer and the seller. On the other hand, having a lawyer with you can make things easier than ever for you.
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