In California, real property buyers should take steps to prevent a possible financial loss. They should also consider all possibilities when they choose to buy a home. These possibilities include potential issues with the property itself and the property’s title. A Property Attorney in Chico CA helps these buyers by protecting their interests during these transactions.
Preparing to Buy a Home
The first step in buying a home is to extend an offer to the seller. A property attorney evaluates the appraisal for the property to determine if it is worth the asking price. Once the offer is accepted, a real estate purchase contract is created. The attorney reviews this contract to determine if there are any terms that could cause issues later for the buyer. This may include contingencies that could cause issues with the lender.
Acquiring Full Disclosure
An attorney can help the buyer obtain full disclosure about the property. For example, all properties that were built prior to 1978 require a lead-based paint disclosure. This disclosure informs the buyer if there is any lead-based paint inside the property. This paint is considered a serious health hazard and could lead to poisoning if ingested. The attorney can take action if the seller doesn’t provide this information to the buyer.
Obtaining Title Insurance
Title insurance helps protect the buyer as well. This insurance helps them obtain a refund of their down payment or earnest money if they cannot buy the property due to title errors. A real estate attorney conducts a title search to identify the seller as the rightful owner of the property.
Securing the Buyer’s Interests
The buyer’s attorney attends the closing. They evaluate all documentation for this transaction. This allows them to protect the interests of the buyer and prevent issues that could lead to foreclosure.
In California, a real estate attorney helps buyers when they are ready to purchase a new home. These attorneys evaluate contracts, inspections, and lending documentation to prevent the buyer from losing any part of their investment. Buyers who need to hire a Property Attorney in Chico CA should contact Attorney Raoul J LeClerc for additional information about this process.