Purchasing a home is a major investment. You want to be sure that the investment you’re making is in your best interests. That’s why it’s helpful to work with a Mississippi real estate lawyer who can review your contract, propose modifications, check the title to the property, and schedule closing.
There are some misconceptions about these lawyers, which is why many buyers and sellers aren’t always clear on whether to hire one. Here are four myths about the attorneys and the facts behind each one.
Myth 1. If you have a real estate agent, you don’t need an attorney.
These agents cannot give you legal advice. In fact, it’s a 3rd degree felony for someone who is not a lawyer to advise you on legal issues. Also, only Real estate attorneys in Mississippi can give you counsel on buying a home in the same state. If you need legal advice, you need to hire an attorney. Mississippi is an attorney closing state, so you are required to have an attorney prepare your deed and other closing documents.
Myth 2. Attorneys make the process more complicated.
A Mississippi real estate lawyer will provide you with professional advice that will help the transaction move along more smoothly. There are many people involved in a real estate transaction, so it’s easy to get confused, have mixed communications, etc. A lawyer makes sure that everyone is on the same page.
Myth 3. Lawyers are expensive to hire.
Surprisingly, fees for these attorneys are low compared to the costs of other legal services. Most charge a flat fee for their services, unless your situation is more complicated. Keep in mind that the cost of a bad sale can be much higher than the cost of a lawyer.
Myth 4. The Title Company will handle all of your needs.
Another misconception is that the Title Company will take care of your needs. While this is true to some degree, the Title Company has lawyers that watch out for their needs, not yours. If you want someone looking out for your best interests, you need to hire your own real estate attorney in Mississippi. Also, the Title Company cannot give you legal advice.
When you need a lawyer to assist with the selling or purchasing of your property, call Susan G. Pinkston today.