When to hire a real estate legal professional
Hiring a legal professional who knows about real estate to do the paperwork is recommended when it comes to closing the sale.
Attracting buyers can come from any source from online listings, to social media, but there will be a time that the seller and buyer will want to get the paper work in order.
The name of the person who you are looking for will depend on where you live. In Europe there are Solicitors, and in the US there are Real Estate Attorneys and Lawyers. They all perform similar tasks to ensure that the contracts are done correctly, and payments go through.
You do not necessarily need a real estate agent once the buyer confirms their willingness to purchase, but the documentation needed for the mortgage, title transfer and other legal requirements for a property sale is extensive. If you're not using a real estate agent or a broker, you need to or should use a lawyer or solicitor.
The big savings to be made are in not using a Realtor or Estate Agent, as this can be anywhere from 3-6% or more of the sale price in commission. The cost of using a lawyer may run into several $100 dollars or Euros or more, but the peace of mind knowing someone has checked the documentation is worth it.
