Question – Is a real estate attorney required for real estate transactions in Missouri, or can you buy and sell property without the help of a lawyer? Answer – No. Missouri law does not require a real estate attorney represent any parties in a real estate transaction…but that doesn’t mean it’s a good idea to do without one.
Do I Need a Lawyer for Real Estate Transactions in Missouri?
According to an OLR Research Report, a few states, including Georgia and South Carolina, require the presence of a real estate attorney at any closing. Others, such as Delaware and New York, regulate the activities of non-attorneys at closings. These laws are designed to ensure that protection of the parties to the transactions.
But again, Missouri does not require a real estate attorney to be present for transactions. Many people in Missouri buy or sell a home without the help of a real estate lawyer and only bring one in if a problem arises. They generally rely on assistance of a realtor. Is this a good idea, or are there strong reasons to hire a real estate attorney to help you during the whole process?
What Can a Real Estate Attorney Do for Me?
A Missouri real estate attorney can help you in several ways, including:
- Performing or reviewing a title search to confirm ownership of the property, discover any liens against it or prohibitions for use of the property due to easements or other use restrictions.
- Review the sales/purchase contract to make sure terms are acceptable and to point out time deadlines and rights and responsibilities under provisions.
- Help you identify necessary changes to the wording of the contract and assist in negotiation.
- If a realtor is not involved, the attorney can prepare legal paperwork needed to buy/sell a property without an agent.
- Properly advise during the sale of an asset that is owned by a trust.
- Review closing statements and attend closing to ensure a smooth process.
- If you’re planning to use the real estate you’re buying as a rental property, your attorney can help you purchase in a corporate entity name, help you understand the requirements and also help you draft tenant applications and leases.
Benefits of Using a Real Estate Attorney for Your Transaction
Using a real estate attorney has a lot of benefits, even in states like Missouri, where an attorney is not required. Some of these benefits include:
- Protection from unforeseen legal issues or disadvantageous contract terms.
- Identification of potential issues before they arise.
- Ensuring that you have a clear title to the property.
- Minimizing the financial and legal risks of the transaction.
For all these reasons, it’s a good idea to use an experienced real estate attorney when buying or selling property in Missouri. An attorney should not seek to displace any realtor helping you – but instead become part of the team so you achieve the best possible outcome.
If you are building a new house or renovating an existing home, a real estate attorney can help you negotiate contracts and ensure you are protected from adverse events. Many, many lawsuits arise due to lack of experience in handling construction matters. Use of an attorney will protect you against the cost of the attorney’s work after a dispute arises, many times over.
Contact a St. Louis, Missouri Real Estate Attorney Today
The law firm of Uthoff, Graeber, Bobinette, & Blanke has been providing legal services to St. Louis, Missouri, and the surrounding area for over 40 years. Many of our clients come to us to resolve a problem, only to use our services again for a different legal issue later on.
Attorneys Ken Graeber, Richard Blanke and Dave Adam have over one hundred years of combined experience in real estate law. They handle real estate transactions of all kinds, residential and commercial closings, leases, deeds, sales agreements, and contract law.
If your real estate transaction culminates in a legal dispute, we can help with that as well. We have handled hundreds of real estate disputes, avoiding litigation when possible. Call us with your issues, and we will find some way to help. Contact Uthoff, Graeber, Bobinette, & Blanke today for your free consultation.
Disclaimer: The information provided on this blog is for general informational purposes only and does not constitute legal advice. Always consult with a qualified attorney regarding your specific situation. Your particular facts and circumstances may alter conclusions derived from information contained in this blog. The author assumes no liability for any errors or omissions in the content and is not responsible for any damages resulting from the use of this information.