Are you unsure when to involve a real estate attorney in your transaction? Understanding the right timing can protect your investment and ensure a smooth process. In this video, Shawn Good, an attorney with the Good Law Group, breaks down the crucial moments to consult legal expertise. Whether you’re dealing with residential or commercial property, knowing when to seek advice can make all the difference. Ready to learn more? Watch the video now!
For residential transactions, it’s best to hire an attorney after the contract has been signed. Typically, you’ve already toured the house with your agent or found it off-market and are ready to make an offer. Once both you and the seller sign the offer, it becomes a valid contract, and that’s when you should get your real estate attorney involved.
Most residential real estate contracts I handle allow buyers to back out within the first five days and get their earnest money back. This clause protects buyers, so if you’re nervous about signing, remember you have a five-day window to change your mind and retrieve your deposit.
However, commercial transactions are different. You’ll want to hire or consult an attorney before executing the contract, especially for more complex properties like multifamily units, gas stations, or car lots. These deals involve intricate contract terms and require more specialized legal knowledge.
If you need assistance with your real estate transaction, please reach out to us at (847) 577-4476. Thank you!
