Your Aug. 27 Page 1 story “Realtors face suit by Austin neighbors” sadly demonstrates the tragedy that can devastate home purchasers who do not hire an attorney.
Buying a home is the most significant financial commitment most people make in a lifetime. That’s why it is vital nothing be left to chance. Home purchasers and sellers are likely to confront a number of complex issues that can be resolved only by an experienced real estate attorney. Because there is so much at stake, we strongly believe that an attorney should be involved in the process from the beginning.
For a relatively small fee, qualified real estate attorneys can represent home purchasers. Similarly, organizations such as the Chicago Legal Clinic Inc. and Chicago Center for Law and Justice can provide free or low-cost legal services. They can help home buyers save on settlement costs, negotiate specific terms of the contract, ensure that the owner has clear title to the house, help evaluate financial options, explain tax consequences, navigate through the paper maze and serve as an advocate at the closing.
An attorney is an advocate for the home buyer every step of the way, helping, among other things, to ensure that the home purchaser’s interests are protected.
What happened to the Austin homeowners is tragedy that could have been prevented had they not been dissuaded from hiring an attorney by the real estate salesperson involved. As a result, they were duped into buying shoddily rehabbed homes at inflated prices. Legal representation could have been the cost-effective solution, saving a large group of middle-income home buyers a great deal of money and heartache.
