Indiana home buyers need to discuss items such as sales contracts with an attorney to establish their rights. This inspection allows the attorney to determine whether or not there is any evidence of unethical practices by real estate agents. These unethical practices could include inflated sales prices or commissions. If you need a Real Estate Attorney in Washington Indiana today, you should contact a law office like the Feavel Law Office and schedule an appointment.
Evaluating the Mortgage Contract
New lending laws require lenders to take measures to prevent the potential for predatory lending practices. However, there remain lenders who are looking out for their own interests instead of those of the borrower. This is where an attorney can step in and prevent these lenders from taking advantage of borrowers who are not familiar with these laws.
A careful review of the mortgage contract by an attorney presents evidence of any predatory lending practices. For instance, the attorney should determine whether or not the lender established affordability before providing the mortgage to the borrower. The attorney can also review interest rates that were available through the respective mortgage program at the time that the mortgage was issued. If the lender didn’t provide the borrower with the best rate possible, he or she is guilty of unethical lending practices.
Attending the Closing
At closing, an attorney is present to review and officiate this transaction. This includes a title search in which the attorney determines whether or not the seller is the legal owner and has the right to sell it. The title search will span back as far as twenty years. The attorney ensures that the rights of the seller and buyer are maintained throughout this process.
If you wish to buy a home, you should familiarize yourself with your legal rights. An attorney can help you with this venture by reviewing all documents needed to complete this process. They can also prevent predatory lending practices and fraud. Once these unethical practices are discovered, a Real estate attorney in Washington Indiana can take measures to protect your interests. If you need an attorney now, you should visit the website for further details.