Realtor or lawyer: Do you need both? Real Estate Adviser by Steve McLinden • Bankrate.com

Dear Real Estate Adviser,
I'm in the market for a home (or a condo) and have already hired an agent. People are telling me I should use a real estate lawyer. Why would I need both?
-- L. Rubin

Dear L.,
In a typical home transaction, things proceed smoothly from contract to closing and you don't need an attorney, except in a handful of states where one's required to prepare purchase documents, perform title searches and close deals. In fact, real estate transactions have become so standardized that most parties use the same purchase contract and just fill in the blanks.

So, you don't need an attorney most times, but the big key word there is "most."  If you're a first-time home buyer or just a very circumspect, play-it-safe kind of person, you might consider enlisting a real estate attorney to walk you through what is likely the biggest financial decision you'll ever make.

An attorney can clear up any easement issues, title defects or old municipal liens that may be attached to the property and make sure the sales contract addresses all of your concerns about seller disclosures and who is responsible for repairs. A thorough attorney can also help you cut through the legal jargon of the mortgage process, advise you on the inspections process, discuss the future tax exemptions and liabilities you'll have, and in many states, accompany you to closing. (Yes, so can a good agent.)

In condo developments, where there are numerous contractual restrictions, covenants to examine and condo-association bylaws to analyze, a real estate attorney can weed through the legal jargon to make sure your desired ownership freedoms are not constricted. If the association is involved in ongoing litigation, the attorney can weigh in on the potential impact of that litigation.

One scenario where I strongly recommend a real estate attorney is one where you've already opted to use the same agent as the seller. Such a dual-agent relationship is rarely a good idea for the buyer, by the way, except in a friendly sale involving family members or good friends. In something this big, you need someone who is wholly in your corner and can serve as your bona fide advocate. If you do hire a lawyer, hire a real estate specialist, not someone who just dabbles in the practice. Get references from friends or relatives or a local attorney referral service that has been approved by your state's bar association.

Of course, you never need an attorney until you do. But for the cautious and prudent, a real estate attorney can be good insurance, especially if complications arise. Best of luck.

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