While not every jurisdiction requires homeowners to engage the services of Real Estate Attorneys Orange County NY when selling their homes, choosing to do so is a smart move. Having access to legal counsel will ensure that nothing is overlooked as the task of finding the right buyer gets underway. Here are some of the benefits that come with hiring an attorney.
Checking the Terms of the Brokerage Agreement
Many people enter into agreements with real estate professionals in order to sell their properties. One of the documents used to outline the terms of the relationship is the brokerage agreement. Essentially, this document is intended to spell out what responsibilities the agent and the seller assume in relation to the sale.
Before the agreement is signed, it makes sense to have one of the Real Estate Attorneys Orange County NY take a good look at the terms and conditions. The goal is to ensure that the provisions within the agreement cover a wide variety of issues that could arise during the sale process. Further, the terms used in the agreement must leave no doubt about when an extra fee will be assessed, and what happens if a certain set of events come to pass.
For example, would the seller still have to pay a commission to the agent if a buyer is found by means other than the efforts of the agent? Making sure matters of this type are covered in the agreement protects the seller from realizing less profits from the sale.
A Question of Taxes
It also helps to understand the tax implications of selling the property. What sort of obligation is created if the home sells for considerably more than the original asking price? Are there taxes owed if the home is sold at a discounted price? An attorney can look over the specifics of the situation and ensure the seller knows exactly what must be done to settle the taxes correctly.
For anyone who is thinking about selling a home, talk with Mark Aberasturi about the legal aspects involved with such a sale. Having legal advice on hand makes it easier to manage the details and be happy with the outcome.