Wednesday, March 18, 2015
Legal Protection for Real Estate
Do Buyers or Sellers need an attorney review on their real estate purchase agreements? or Are the MLS forms sufficient to protect them in real estate transactions?
Many parties to a real estate transaction like to rely on "standard" MLS forms to protect their interests. In fact, the NWMLS has on-staff legal counsel to review and draft all of its paperwork to ensure consistency with state and federal laws. Staff attempts to develop forms that are "neutral" with respect to the interests of either Buyer or Seller.
But what kind of legal protection do these forms really provide?
Check out this online video to get one perspective on this issue:
Every real estate investor ought to have a sharp real estate attorney as part of their team. As a real estate professional, I rely on services like Legal Shield (formerly Pre-Paid Legal) to advise me on numerous legal issues that come up regularly in the course of my work.
It is the prudent thing to do.