It is not a secret that real estate agents make large commissions and the cost of those commissions could come down on you. Real estate attorneys also charge large fees for their services. So this raises the obvious question, should you hire a real estate attorney or a real estate agent when you are buying or selling your home? There are many factors that come into play when answering this question.
Hiring an Agent
Every state has a different set of very specific real estate laws. It is not always necessary to hire a real estate agent but it can come in handy. An agent will have easy access to mortgage loan brokers, inspectors, and other professionals who can help with the process. They will be able to hire inspectors to come in and notate any repairs that need to be made before you purchase the property. Just make sure not to use the agent of the seller.
Hiring an Attorney
A typical real estate transaction does not require any help from an attorney. It is such as standard process that you can almost do it on your own. However, there are some circumstances where hiring a real estate attorney in Montclair, NJ would benefit you. If any legal issues arise that cannot be handled by the real estate agent, it is best to have an attorney on hand. An attorney will know quite a bit about the contracting and negotiating part of the process that an agent will not be fully aware of.
If you are buying or selling a large property with a lot at stake, it is best to hire an attorney to help with the process. Otherwise you should be able to get by with an expert real estate agent. Much of this will depend on the property that is at stake.