Menu

A Credit Counselor Versus a Bankruptcy Attorney

About Me

A Credit Counselor Versus a Bankruptcy Attorney

When I was drowning in debt, I knew that soon enough I would need to file for bankruptcy. I simply didn't make enough to cover the amount of debt I had accumulated. However, I was not sure whether I should work with a credit counselor or a bankruptcy attorney. I did a lot of research on the subject and found that there are pros and cons to working with both a credit counselor and a bankruptcy attorney, and that you also had the option of working with both at the same time. Ultimately, I decided to hire the attorney, but that may not be the best option for everyone. I created this website to help you understand what a credit counselor is and what they do, what a bankruptcy attorney is and what they do and how each can help you if you are drowning in debt.

Tags

Why You Should Hire A Lawyer For Protection When Purchasing A Home

11 February 2015
 Categories: , Blog

A lot of people do not hire real estate attorneys when purchasing homes; however, hiring one might be a good idea for you. When you buy a home without an attorney, you will not have anyone looking out for your best interests.

This could lead to problems, including the problem of backing out of the contract if you learn something negative about the house you are about to purchase:

Problems You Might Encounter

As you begin the home buying process, signing a purchase agreement is usually the first step after finding the house you want to buy. Once you do this, you will be locked into the purchase unless there is a major problem that arises. The trouble is that your contract might not cover all the potential problems you might encounter:

  • Mold issues
  • Water damage
  • Septic problems
  • Water drainage in the yard
  • Foundation issues

If you discover problems with any of these things or with anything else, will you be able to get out of your purchase agreement if you did not have a lawyer draw it up?

How A Lawyer Protects You

A standard purchase agreement can be hard to get out of unless it states that you can break the contract for specific reasons, such as the ones listed above. When you hire a real estate attorney to create the contract for you, he or she will include all of the above potential problems. In addition, the contract will specifically state that you can break it if any of these problems arise.

This is not the only reason having a lawyer is vital when buying a house though; there are many others, including:

  • Title work – Real estate lawyers will handle all the title work and other legal issues the correct way, which will minimize the risks of developing problems with legalities later on.
  • Prorated expenses – Your lawyer will also consider all expenses of the deal when preparing the closing documents. This can include prorated interest on the loan, prorated homeowners' association fees, and prorated property taxes.
  • Inspections and repairs – Lawyers also negotiate things such as home inspections and repairs that must be made. Through these steps, the seller of the home may end up with more financial responsibilities than you had originally thought.

While it is possible to purchase a home without hiring a real estate attorney, it is not in your best interest to do this. Protect yourself and your finances today by hiring an experienced real estate attorney in your area. To learn more, contact a company like Blake Law Office with any questions you have.