As a Colorado Springs real estate agent, homebuyers often ask me if they need to hire a lawyer before buying a home in Southeast Colorado.  While the answer to this question is a matter of personal choice, I usually tell them that it’s a good idea to have an attorney review the documents of sale and perform at title search before closing the deal.  In fact, there are some states that require it, but Colorado isn’t one of them.  That said; keep in mind that only an experienced lawyer with a real estate background is equipped to answer your legal questions, not a lender, real estate agent or title company.

Since every state has its own real estate laws, if you are not familiar with Colorado’s laws you should consider hiring a real estate attorney.  A real estate agent is perfectly capable of preparing a home purchase contract, so there is no need to pay a lawyer for that. 

What are some reasons to hire a lawyer when buying a home in Southeast Colorado?

• If there are legal issues that arise during the purchase process that cannot be answered by your agent, then you will need to hire an attorney. 
• Real estate attorneys will know how to handle landlord issues with existing tenants when the ownership passes from them to you.
• If you plan to draft additional language into a real estate contract, a real estate attorney should always review it first. 
• You should also have a lawyer review any questionable language in your mortgage documents, especially if you are being offered seller-assisted financing.

Some homebuyers are uncomfortable with the way real estate agents are paid on commission instead of a salary because they worry that this will make the agent more anxious to close the deal and less concerned about whether it is in the best interests of their client.  While this is an understandable concern, a professional real estate agent is accustomed to looking out for his or her client’s needs and seeing to it that they are satisfied with their new home.  Much of a realtor’s business comes from referrals, and there is no better advertising than the testimonial of a satisfied client.

To learn more about the law and buying a home in Southeast Colorado, or to consult with an experienced Colorado Springs realtor, contact Action Team Realty today.