To say that buying a house is expensive is a colossal understatement. The purchase of a home almost certainly represents the single largest purchase that you will ever make. Therefore, it makes sense to protect your purchase. When you close on your new home, you have the choice between obtaining legal title through a title company or an attorney. Here is why you should consider choosing an attorney.
When you purchase the title to a home, you are taking a leap of faith that the seller owns that home. In other words, do they have “legal title” to the property? While very few sellers would intentionally deceive a buyer, most homes in Western Maryland have been owned by many generations. In fact, Cumberland is one of the top cities in all of Maryland for historic homes. When many generations of people buy and sell a house, it is very easy for ownership to become muddy.
Lawyers possess the experience and expertise to perform the critical role of reviewing titles to ensure that sellers own the house that they are selling. This may seem like a straightforward task that anyone, including a title company, could perform. However, tracing ownership through generations is no easy feat. Furthermore, the cost of a mistake could prove catastrophic. Nobody wants to be sued by the grandson of the previous owner with their new house on the line. While this is an admittedly extreme example, mistakes can and do happen. You might discover that your neighbor can drive his vehicle over part of your front yard because of a fifty-year-old easement, or that the shed you want to build in your own backyard is technically an illegal trespass onto your neighbor’s property. The possibilities for title mistakes are endless and none of them are pleasant. It is worthwhile to protect the most important purchase that you will ever make by obtaining the professional services of an attorney.
Finally, the cost difference between a title company and an attorney is negligible or non-existent. Furthermore, the value of an attorney far exceeds the value of a title company. At Geppert, McMullen, Paye & Getty we will be with you through the entire home buying process. We will answer any and all legal questions you might have and provide reassurance and clarity that we have gained through more than 70 years of real estate experience. If you want to protect your new home, give us a call at 301-777-1515. We are open from 8:30 a.m. to 4:30 p.m. Monday to Friday to serve you.