Closing on a real estate transaction can be a nerve-wracking experience for both buyers and sellers. A lot of paperwork needs to be signed, funds need to be disbursed, and there are many potential legal issues that can arise. This is where a real estate attorney comes in. They can help ensure that the closing process goes smoothly and that all parties involved are protected.
In this article, we will explain how a real estate attorney can assist with the closing process and why their services are essential for a successful transaction.
One of the primary responsibilities of a real estate attorney is to prepare and review all the necessary paperwork for the closing. This includes the purchase agreement, mortgage documents, and other legal documents related to the transaction.
The attorney will make sure that all the paperwork is in order and that all parties understand the terms of the agreement. They will also ensure that all necessary disclosures are made and that all parties are in compliance with local and state laws.
A real estate attorney will also handle the disbursing of funds during the closing. They will make sure that all funds are properly accounted for and that they are distributed to the appropriate parties.
This includes ensuring that the seller receives the correct amount of money, that the lender is paid off, and that any outstanding taxes or liens are paid. This can be a complicated process and having an attorney handle it ensures that everything is done correctly.
A real estate attorney can also assist with any title issues that may arise during the closing process. A title search is conducted to ensure that the property’s title is legitimate and free of any liens or encumbrances. However, sometimes issues can be found after the closing has taken place.
An attorney can help resolve any title issues that may arise, such as outstanding mortgages or judgments that may affect the property’s title. They can also help to ensure that the buyer and lender are protected with title insurance.
Disputes can also arise during a real estate transaction. A real estate attorney can assist with resolving any disputes that may arise between the buyer and seller. They can also help to ensure that all parties are in compliance with the purchase agreement and that any issues are resolved in a timely manner.
A real estate attorney can play a crucial role in ensuring that the closing process goes smoothly and that all parties involved are protected. They can assist with preparing and reviewing paperwork, handling funds, resolving title issues, and resolving any disputes that may arise.
At Sure Title Company, we have a team of experienced real estate attorneys committed to delivering exceptional service to guarantee the success of your real estate transaction. Reach out to us today to find out more about how we can assist you with your upcoming real estate deal.