4th of 6 Biggest Mistakes Homebuyers Make
Buying a home is the single largest purchase most folks will make in their life time – yet many go into it blind. In my previous career of a mortgage loan officer I saw this more times than I would like to admit.
Here is the 4th of six biggest mistakes homebuyers make according to cnnmoney.com;
No lawyer
Nearly everyone involved in a real estate transaction — the seller, the buyer’s real estate agent, the seller’s agent and the mortgage broker — has a vested interest in getting the deal done because they only get paid when the house is sold. So they may push a deal even if it’s not in the best interest of the buyer.
One of the best defenses against making am expensive purchase you’ll regret is to hire a real estate attorney — even in cities where it’s not standard practice. These professionals charge flat fees and their advice is objective.
It’s nice to have someone on your side.
In North Carolina, although a non-lawyer may OVERSEE the signing of the closing documents and receive and disburse the closing funds, there are many activities that a non-lawyer may NOT perform. For example, if a legal question comes up about the meaning of the sales contract or a loan document, a real estate agent, loan officer or other non-lawyer CANNOT legally answer the question. Also lawyers in North Carolina are agents for title insurance companies thus having to render an opinion in order to issue a policy.
