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.