Some states have laws requiring an attorney to be present or involved in real estate closings, however Wisconsin is not one of them.
Even though it’s not required in Wisconsin, many people wisely choose to hire a lawyer to help them close on the sale or purchase of a home or other real estate. Hiring an attorney for such a transaction provides many benefits including:
A real estate attorney can draft or review necessary documents
Your real estate attorney ensures your rights are protected in the transaction (whether buying or selling)
If a problem arises, your attorney can answer your questions and address any issues with terms and conditions in the closing documents
However, to fully benefit from an attorney’s advice in a real estate transaction, it is crucial to hire the attorney before the purchase agreement is signed. Once an agreement is signed, there is not much that can be done to change or modify those terms and without an attorney’s help on the “front end” it is possible to agree to terms that were not in your best interests or that could yield an unexpected outcome.
The requirements of completing a real estate transaction can be hard to fully understand without a real estate or legal background. Hiring a lawyer before the agreement is signed can save time and provide peace of mind during the process.