do you need real estate attorney when purchasing new construction in indiana

Unlike some states, Indiana does not require that sellers involve a lawyer in the house-selling transaction. Even if it’s not required, you might decide to engage a lawyer at some point in the process—for example, to review the final contract or to assist with closing details.

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Do you need an attorney to sell a house in Indiana?

As a special service to you, we have created this frequently asked question page. Don't see your question here? Call Hocker Law, LLC right now to find out how a real estate attorney in Indianapolis can help: (317) 578-1630. Our real estate attorneys in Indianapolis, Janet Davis Hocker and Kathleen S. Crebo will be on your side.

Who can help me with real estate contract law in Indiana?

Indiana real estate contract disputes can be complex. It is wise to seek legal assistance in drafting and executing real estate agreements in accordance with the law and to obtain experienced counsel when dealing with breach of real estate contracts or potential claims of actual or constructive fraud in Indiana. An attorney who is knowledgeable in Indiana real …

Should you use a realtor when buying a new construction home?

Sep 28, 2020 · The closing attorney will not determine whether there are matters on title that could cause a potential issue to the buyer. When the buyer has a …

Do realtors have contracts with the state?

Jan 07, 2021 · Some people hire an attorney early in the process, to handle such matters as reviewing the brokerage contract with a real estate agent, while others wait until the purchase contract is drawn up ...

Does Indiana require real estate attorney?

Do you need a lawyer when buying a new house?

When should I hire a real estate attorney?

Do I need a real estate attorney to sell my house in Indiana?

What is a legal report when buying a house?

How long is the conveyancing process?

Do real estate lawyers go to court?

Who pays for closing costs?

What do you have to disclose when selling a house in Indiana?

How do you sell a house without a realtor?

How do I sell my house in Indiana?

What is real estate contract law in Indiana?

Indiana real estate contract law is governed by various sections of the Indiana Code and relevant court decisions. In Song v. Iatorola , 76 N.E.3d 926 (Ind. Ct. App. 2017), the Court of Appeals of Indiana issued an opinion on rehearing that reaffirmed its prior opinion concerning a contractual and real estate dispute arising out of the purchase of 16 acres of real property next to the Porter County Airport in northern Indiana. The decision illustrates which facts can be used to support actual and constructive fraud claims.

Is real estate a complex contract in Indiana?

Indiana real estate contract disputes can be complex. It is wise to seek legal assistance in drafting and executing real estate agreements in accordance with the law and to obtain experienced counsel when dealing with breach of real estate contracts or potential claims of actual or constructive fraud in Indiana.

What is contract interpretation?

As noted by the court, contract interpretation is generally a question of law as opposed to a question of fact, and evidence from outside the contract cannot be considered unless the language ...

Is contract interpretation a question of law?

As noted by the court, contract interpretation is generally a question of law as opposed to a question of fact, and evidence from outside the contract cannot be considered unless the language of the contract is ambiguous. Where the contract is ambiguous, evidence outside the contract can be considered and any ambiguity in ...

What did the appellate court hold about the buyers' claims of fraud?

The appellate court held that the buyers’ claims of fraud were issues of fact for a judge or jury and that the buyer could prove that the facts alleged by the seller demonstrated the following elements of actual fraud in Indiana:

Does a closing attorney represent the buyer?

The closing attorney does not represent the buyer or seller. The role of the closing attorney is to facilitate the closing process. This means that the attorney handles the paperwork to get the deal closed and may also handle the issuance of the owner’s title insurance policy for the buyer.

What does a closing attorney do?

This means that the attorney handles the paperwork to get the deal closed and may also handle the issuance of the owner’s title insurance policy for the buyer. The closing attorney does not get involved in disputes between the parties and does not make a determination on whether one party is right or wrong.

What is a real estate lawyer?

A real estate lawyer is licensed to practice law and specializes in real estate transactions. A real estate lawyer is familiar with all aspects of the home purchase process and can represent buyers, sellers or lenders. In states where a lawyer is required to be present at closing, it’s possible that the lawyer is there solely to represent ...

Who does a real estate lawyer represent?

A real estate lawyer is familiar with all aspects of the home purchase process and can represent buyers, sellers or lenders. In states where a lawyer is required to be present at closing, it’s possible that the lawyer is there solely to represent the buyer’s lender. You will need to hire a lawyer yourself if you want someone to represent your ...

Can a buyer withdraw from a contract without penalty?

In some cases the buyer—if the contract allows it —could withdraw from the contract without penalty. Title. A title search is routine before a purchase, and might turn up a lien on the property you’re selling or buying, which a lawyer can help investigate. A lawyer also could help ensure the title insurance on your new home adequately protects you ...

What is closing on a home?

Closing. The moment you’ve been waiting for— closing on a home sale or purchase —often involves dozens of pages of legal documents to review. A lawyer can help both the seller and buyer navigate the review, which can be especially intimidating and confusing to a first-time homebuyer.

What is the job of a real estate attorney?

The job of a real estate attorney is to negotiate and make a transaction come together in a peaceful manner that’s fair and amenable to all parties. A real estate attorney takes over after the selling price and terms have been established by the real estate agents in the contract and all parties have signed.

What does it mean when you are selling a house?

You’re selling a property that is in some state of distress. You’re the heir or executor of a property whose owner is now deceased. You’re selling a house with an uncooperative partner. You have judgments or liens on the property.

Who is Julie Ryan Evans?

Julie Ryan Evans is an editor and writer who has covered everything from politics to pop culture and beyond. She loves running, reading, cold wine, and hot weather. Get Pre-Approved Connect with a lender who can help you with pre-approval.

What is a builder's agent?

What is a builder’s agent? When you buy a new construction, the home’s builder is considered the seller, and the agent representing the builder is called the builder’s agent. “The builder’s agent will always have the builder’s best interest in mind,” says real estate agent Jason Walgrave , with Re/Max Advantage Plus, in Lakeville, MN.

Who is responsible for paying the commission?

Because the builder (aka the seller) will be responsible for paying the commission, and needs to know if you’ll have a real estate agent representing you. So bringing your agent to the first visit will make it clear that the builder’s agent will be on the hook for paying commission. Some builders might even refuse to pay your agent a commission ...

Where does Cathie Ericson live?

Cathie Ericson is a journalist who writes about real estate, finance, and health. She lives in Portland, OR.

Do you need an attorney for closing?

Being a sought-after retirement destination, it is essential for retirees as well as other buyers to know that it is mandatory to hire an attorney for the closing transaction. Your attorney will have the responsibility to gather all legal documents, the necessary paperwork, and make preparations for all facets that grant the homeowner legal rights. The attorney will also have a right to determine the validity and legitimacy of the property as well as the title to the property.

Is it legal to be a non-attorney in Alabama?

The state of Alabama has made it legal for non-attorneys to manage and be in control of closing transactions. However, they are limited in their role and involvement in other matters dictating the closing process. The phrase non-attorneys encompasses terms such as the assistant to an attorney, other parties involved in the home buying process (such as title companies), etc.

Does Massachusetts require an attorney to close a transaction?

The state of Massachusetts places great emphasis on having an attorney for closing transactions on any real estate. The attorney is responsible not just for closing, but they are also required to be actively involved in the processes that need to be taken care of before and during the closing. Moreover, it is illegal for notaries to conduct the closings. Also, the attorney is also responsible for determining the adequacy of the title draft, doing the deeds, and managing the legal transfer of the property.

Is it illegal to have another party stand in for a closing in South Carolina?

They have to be present before and during the process. Even after the attorney authorizes and approves the deeds and other documents, it is illegal for him to have another party stand-in for the closing.

What is a settlement agent in Virginia?

The Real Estate Settlement Agents Act authorizes licensed attorneys, title insurance companies, real estate agents, real estate brokers, and financial institutions to serve as Settlement Agents. This means that by law, the purpose of this Act is to provide consumer protection safeguards and to define who can lawfully provide real estate settlement services in Virginia. Basically, this says that Virginia’s state government requires that you have an attorney closing or title company present at closing for real estate transactions to provide you with legal advice should you need it for when you’re ready to buy a house.

What is the role of a real estate agent?

A real estate agent or attorney facilitates the closing by coordinating these activities necessary to ensure that the title to the property is transferred according to the terms of the purchase, sale contract and that the funds are accounted for on a settlement statement.

What is the law of the land?

The law of the land is also evident in the importance that real estate attorneys must adequately determine the legal description of the real estate. The description must be consistent with the homeowner’s mortgage and the deed. The attorney must also describe to the borrower, the specifications and terms of all the real estate documents.

How to protect against having to pay for maintenance and repairs in the new home?

One way to protect against having to pay for maintenance and repairs in the new home is to buy, or better yet negotiate to have the seller-builder buy, a "homeowners' warranty" or "new-home warranty," or to enroll in a warranty program.

What is implied warranty?

Some state laws, and almost all courts, recognize an "implied warranty of habitability and fitness for use ," which makes the builder/seller responsible for any construction defects in the home that are not readily apparent to the buyer when performing a normal inspection.

Can you sell your house for less than a realtor?

While pricing and services vary, discount real estate companies will help you sell your house for less than a traditional realtor. In most cases, you'll still need to offer a competitive buyer's agent commission, but you'll save on listing fees.

What is negotiation in real estate?

Negotiations are about deciding more than the final sale price. You and the buyer (or their agent) will also have to agree upon contract contingencies, how closing costs are divided, the timeline, and more.

How much less does a FSBO home sell for?

Research shows that FSBO homes typically sell for about 6% less than those listed with agents AND you'll still usually be on the hook for offering a competitive buyer's agent commission. FSBO homes also often take longer to sell and are more likely to fall out of contract after accepting an offer.

What is FSBO selling?

Selling without a real estate agent, known as listing For Sale By Owner (FSBO), is a viable option for experienced home sellers who are willing to put in the time and effort. However, selling FSBO has risks.

What is buyer agent commission?

A buyer’s agent's commission is an incentive for realtors to show your house to their clients. If you don't offer a commission that is competitive compared to similar homes in your area, then your home could be shown less. Agents may prioritize taking buyers to homes with a commission.

Is my home on the MLS?

Less visibility with buyers: Unless you pay for a flat-fee MLS service, your home won't be on the local MLS. Most agents use MLSes (not Zillow and Trulia) to find properties for their clients and most buyers work with a realtor. So if you're not on the MLS, fewer buyers will see your listing.

How much does clever pay?

You pay Clever nothing and only pay your full-service agent $3,000 (or 1% on homes over $350,000) if and when your home sells .