Buying a home is a milestone moment. It’s a major life decision that requires thorough planning on your end, and great timing in general. That means rushing and jumping from one decision to another is a mistake you cannot afford.
Some homebuyers start the process thinking they can do it all on their own. But as they fumble through the process, they learn (the hard way) that this is better done with an expert in tow. Real estate is a complicated world. Possessing information and familiarity with neighbourhoods, sellers, and contractors are the kinds of matters to keep your real estate journey moving. To achieve your real estate goals, you need a real estate agent or a real estate attorney.
What is the Difference Between a Real Estate Agent and a Real Estate Lawyer?
If you thought these two were the same thing, you’ve found the right article. Real Estate Agents and Real Estate Lawyers are fixtures in the industry. While it may be possible to seal your home deal with only one, the best route is to take advantage of both.
What Can A Real Estate Agent Do?
Remember that scene in The Wizard of Oz when the small house went flying around because of the tornado? The process of buying a house will feel like that. A real estate agent can help you go through all the motions. The process starts by meeting you and understanding your needs. They go through the listings and research the house that perfectly matches your needs.
A lot of transactions happen quickly. A real estate agent will help you hire inspectors, negotiate possible repairs, and establish a good relationships with sellers. Not only that, real estate agents have contacts that can cut your research time in half.
When you are connected with the right real estate agent, you will get all the right support and information you need at every stage of your home buying process.
What Role Does a Real Estate Lawyer Play?
If an agent plays such a huge role, what is there for a real estate lawyer to do? Because Real Estate is like the tornado we mentioned, legal issues can arise at any stage. Your real estate agent can’t help you here, except connect you with the right lawyers.
Good agents can help you by negotiating and even drafting contracts. But they can’t provide legal advice. Real estate laws are slightly different from one province to the next, in Ontario having a real estate lawyer is a necessary part of your real estate transaction.
Real Estate Lawyers are especially necessary when there are unusual or unique provisions needed in your contract.
Who Should You Hire?
Both!
A real estate lawyer has in-depth knowledge of drafting contracts, but cannot not help you identify obvious construction issues as they do not visit the property.
Experienced real estate agents, on the other hand, can assist in identifying construction issues but cannot provide legal advice.
Whether you are looking for a new home in Burlington, Oakville, or North York, having both a real estate lawyer and a real estate agent are key professionals on your team. When buying a property, hire an experienced agent who will provide you with invaluable advice. When you need legal advice, consult a real estate law firm in Ontario.
