If you're planning to buy or sell a property, you'll need to sign a disclosure form. This document contains important information about the property's condition, and it's crucial that you understand everything in it before you sign on the dotted line. While you might be tempted to skim the disclosure and sign it without giving it too much thought, that's not a good idea. If there are any problems with the property that aren't disclosed, you could end up facing some serious legal trouble down the road. That's why it's always best to have a real estate law firm review the disclosure before you sign it. This article discusses what these real estate firm lawyers will do for you.
They'll Make Sure You Understand What You're Signing
The disclosure form is full of legal jargon, and if you're not a lawyer, there's a good chance you won't understand everything that's in it. Even if you think you understand what you're signing, there could be clauses buried in the fine print that you may not be aware of. Having a real estate attorney review the disclosure will ensure that you fully understand everything before you put your signature on the document.
They'll Check for Accuracy
The disclosure form contains important property information, including known defects or problems. It's crucial that this information is accurate, as it could significantly impact your decision to buy or sell the property. An inaccuracy in the disclosure could plunge you into legal problems that can be difficult to deal with. A lawyer will go through the disclosure with a fine-tooth comb to ensure that everything is accurate and up-to-date.
They Can Negotiate Changes
Once you've had a chance to review the disclosure form, there may be some things that you want to change. For example, if the seller hasn't disclosed a major problem with the property, you may want to renegotiate the purchase price or walk away from the deal entirely. A real estate lawyer can help you negotiate these changes, so you get the best possible outcome. If the seller refuses to make any changes, your lawyer can tell you if it's worth taking legal action.
They'll Protect Your Rights
If there are any problems with the property that aren't disclosed in the disclosure form, you could have legal recourse against the seller. However, pursuing a legal case can be complicated and time-consuming, especially if you don't know all of the ins and outs of real estate law. Having an experienced real estate attorney by your side will give you the best chance of success if you decide to take legal action.
These are just a few reasons why it's always best to have a real estate law firm review your disclosure form before you sign it. If you're buying or selling a property, be sure to contact an experienced lawyer to protect your rights and ensure the disclosure form is accurate.
For more information, contact a law service such as Mack Rice Law.