Why is it important for your clients to have a real estate attorney?

By
Mortgage and Lending with Diamond Residential Mortgage Corporation 031.0016549 NMLS#219299

Why Having a Real Estate Attorney is Essential

Prepare Initial Contracts. Your broker or agent may have had you sign a standardized agreement, but an attorney will ensure the binding contract that outlines the initial deal terms keeps your best interests in mind. A real estate attorney will confirm that your contracts are legally suitable under state law and local custom, and address any issues that may impact the future sale of your property.

Negotiate additional terms throughout the process. After the initial real estate contracts are signed, there are still other opportunities for negotiations. From closing cost credits, contingency extensions, home repairs and beyond, a real estate attorney will coordinate the details among all parties, including real estate agents, lenders, home inspectors and other parties who are involved in the transaction.

Secure and Review Closing Documentation. To ensure there are no liens or title obstructions on the property, a real estate attorney will complete a title search to confirm the home is able to be sold. Then, the attorney will prepare certain documents, including the deed, affidavit of title, and bill of sale prior to closing.

Attend Closing. On the day of a real estate closing, several different parties must all be on the same page for the transaction to run smoothly. In addition to reviewing the closing documents in advance, a real estate attorney will coordinate the details of the transaction, from transferring title, coordinating the transfer of funds with the lender and ensuring that the contractual terms are properly addressed. At closing, your attorney will protect your interest and make sure you understand all closing costs, fees, and material facts within the closing documents.

Provide Support and Additional Assistance. Throughout the buying and selling process, your attorney will address any questions or issues you may encounter. They will protect your interests, mediate conflicts, and provide continuing support, in addition to meticulously reviewing all aspects of your legal agreement for the transfer of your property. Even after the purchase or sale of your real estate, your attorney is there to assist with answering the complex questions or quell the issues that may surface in the future.

 

 

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"Wealth is what you accumulate, not what you spend." 

 
With Respect; 

William Piotrowski

Mortgage Originator  
Originator License # 031.0016549
N.M.L.S #219299 

 

582 Oakwood Ave

Lake Forest IL 60045

 

Cell.(630).881.8655

E.fax (888).845.2691

 

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Topic:
Home Buying
Location:
Illinois Du Page County Naperville
Groups:
Active Rain Newbies
Realtors®
Chicagoland and Northern Illinois Real Estate
Illinois Real Estate
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why is it important for your clients to have a real estate attorney

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Rainmaker
309,330
Mike Wong
Keller Williams Realty Southwest - Sugar Land, TX
Realtor: Commercial, Residential, Leasing, Invest

Depending on the complexity of a transaction, the parties involved and the state it is always good to have an attorney. On my commercial transactions most of my clients follow my advice and retain a commercial real estate attorney. 

Apr 13, 2016 05:02 AM #1
Rainer
2,485
Melanie C. Leonard
Law Office of Melanie C. Leonard, P.C. - Naperville, IL
Close with Confidence

Thanks for the succinct breakdown.  But, if we're all providing a similar service, how do you make a recommendation of one attorney over another?  I'd suggest asking, who's going to ensure a smoothe process for my client?  Who's going to make the experience easier, not more challenging for my client?  That's how you'll determine the attorney that provides a superior service and, as a result, is easy to recommend.

 

 

Apr 25, 2016 01:57 PM #2
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Rainer
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William Piotrowski

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