Do I Need an Attorney for My Home Purchase?

As any good attorney could tell you, “need” is much too ambiguous.  “Highly Recommended” might be more appropriate…

Champaign Real Estate ContractI do recommend home buyers utilize a local real estate attorney for Champaign County real estate transactions.   It’s an important piece of the puzzle and provides additional protection for the home buyer.  Below you’ll find a few of these benefits.

  1. Review of the contract to answer a buyers questions and settle ambiguities early.
  2. Explain contract terms deadlines and amendments
    1. Power of Attorney (if you can’t attend the actual closing)
    2. Early or delayed possession agreements
    3. Home inspection agreements
  3. Provide advice and explanation of how to take title to the property.
  4.  Order, review and explain title insurance
  5. If there are issues with the title your attorney can help deal with liens, encumbrances and title objections
  6. Real Estate Taxes
    1. Calculate pro-rations and credits for the closing
    2. Advise you on tax exemptions
    3. Provide info on real estate assessment complaints
  7. Examine the deed to ensure your ownership
  8. Attend the closing with you to explain all closing paperwork

Your Realtor should be able to provide advice on many of these items but are expressly prohibited from giving legal advice.

What are the fees for an attorney in Champaign County?  They vary from firm to firm with a typical range of $350-$500 per transaction.  If a sale is extremely complicated the charges would likely increase.

If you are in the middle of a home sale in Champaign and need a recommendation for a local attorney drop me a note.  I would be happy to provide a great referral.

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