Simplifying the Legal and Contract Portions of Real Estate Transactions

Columbia South Carolina Real Estate Podcast with Brent Downing

Contracts are a critical part of any real estate transaction, so it’s important to have an agent and attorney who know the ins and outs of your contract. Attorney Mark Thomas joins me today with some advice for you.

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I’m here with my favorite closing attorney and owner of the Thomas Law Firm, Mark Thomas. Mark and I have been doing business together since I first entered the real estate business. His job is to help the closing process go smoothly for our clients, and today he’s here to give you some pointers to think about when you buy or sell a house.
Mark emphasizes how important it is to find an agent who understands your contract. You’ll have to rely on the contract as you move forward in the transaction, so your agent needs to be aware of what the contract says so that you don’t end up in a legal predicament that you can’t back out of. Tell your agent everything—including all your concerns and worries. Don’t wait until later down the road to mention that you’d like to alter something about the contract, as it might be too late to change by then; once it’s in writing and has been signed off, that’s it, unless changes can be agreed upon in writing, as well.
According to Mark, one of the biggest misconceptions about real estate transactions is that they’re always going to be really complicated processes. It’s our job to simplify the process down to its nuts and bolts.

Your agent needs to be aware of what the contract says so that you don’t end up in a legal predicament that you can’t back out of.

People think it will take hours to get the necessary paperwork signed, but it really won’t; this is especially true for first-time homebuyers, who don’t really yet understand all the moving parts of the transaction. We will go through the papers with you and make sure you’re on board with everything and that there are no misconceptions about what’s going to happen moving forward. Whatever your concerns are, tell us about them, and we can walk you through them. There are no bad questions, and we are more than happy to answer any you have.
It’s also important to have a capable closing attorney, like Mark himself. Some people think it’s advantageous to use the cheapest attorney they can find, only to find out later that they’ve messed up because they specialize in a different kind of law. If you don’t end up working with the Downing Team and Thomas Law Firm for your transaction, that’s fine—but it’s still important to find an attorney who specializes in real estate.
If you’d like to contact Mark directly, he can be reached by phone at [phone], or you can visit his website at www.MarkThomasLawFirm.com. He’s the only attorney we work with because he is the No. 1 real estate attorney in the Midlands.
If you’re interested in buying or selling a home and would like to work with experienced agents, please feel free to reach out to the Downing Team Real Estate Group.