The Special Role of Lawyers

Due in part to the lack of regulations governing real estate transactions, most home buyers and sellers rely on the advice and professional services of lawyers, more so, indeed, than is probably the case in North America or Europe. Lawyers often play a number of roles during the transaction process, including helping with negotiations, checking title on the property, investigating any number of other due diligence issues, drawing up the purchase contract, preparing loan applications, and even serving as escrow agent. If you do not speak Spanish, then a bilingual lawyer is often a must—in addition to doing double duty as a language translator, the lawyer can help you interpret hidden cultural codes, something that is essential during the negotiation process. (See Chapter 11 for information on how to find a good lawyer and Chapter 18 for a list of lawyers.)