Why home buyers and sellers in Lake County need a lawyer

On Behalf of | Sep 18, 2023 | Real Estate Closings

Georgia is currently one of the hottest real estate markets in the country, with its beautiful lake country experiencing particularly high demand. Currently, Georgia is the seventh most moved-to state in the country. As a result, those who own real estate in the state may want to list it now to maximize the return on their long-term investment, and those hoping to purchase on a competitive market may be in particular need of support to protect their interests when moving forward.

It is a common mistake for those navigating real estate transactions to only obtain the support of a real estate professional. However, agents, even those licensed by the state, may only have a cursory understanding of the law and may not fully comprehend the details of a contract. Those preparing for a sale or purchase usually benefit from bringing in a real estate attorney licensed in Georgia to facilitate any particular transaction.

How a lawyer can help

One of the most important roles that a lawyer fulfills during a real estate transaction is the creation of custom documents or the careful review of paperwork provided by the other party. It is quite easy for buyers and sellers alike to make minor mistakes with real estate paperwork that could complicate the transaction or put them at a disadvantage later.

Sellers may need to familiarize themselves with their disclosure requirements under Georgia law so that they don’t make a mistake that could cost them money later. Listing a property and as-is condition, for example, does not absolve a seller of the requirement to disclose the defects that they know about at the property.

Buyers may want to carefully review any disclosure paperwork and carefully integrate the right terms into any offer that they submit. From a post-closing occupancy agreement that could help ensure the seller leaves the property on schedule to appropriate contingencies that allow for the penalty-free cancellation of the transaction, there are many documents that could help protect someone buying or selling real estate in Georgia.

The closing process itself can be very complex, and small mistakes or oversights can result in the transaction falling apart. Given that so many things can go wrong with the real estate transaction and that it will likely be the largest financial transfer someone completes during their life, having the right support can make all the difference.

All in all, consulting with a real estate attorney can help those hoping to buy or sell real property in Georgia’s lake country more effectively protect their interests during their consequential transactions.