You can use a real-estate attorney for every part of the home-buying process. However, one of the most important times to hire a real-estate attorney is during the closing process. There are several things a real-estate or closing attorney can do for you to make sure the closing process happens without any issues.
A Real-Estate Attorney Can Make Sure the Title Is in Order
A real-estate attorney can perform a title examination to make sure it's clear. The evaluation of the title can ensure there are no restrictions or other criteria associated with the property that the buyer may not know about.
For example, the title examination can reveal things like easements and encroachments that the buyer must honor. More importantly, the title examination can reveal things like the following:
- Liens and levies on the property
- Potential fraud from the seller
- Whether others have a claim to the property
- Expensive historical defects in the structure
Knowing any one of these things before or at closing can make all the difference for those about to make a home purchase.
Once the attorney examines the title, he or she will give their opinion to a title company. The title company will then issue title insurance to protect you from any additional issues that may show up with the title after closing.
A Real-Estate Attorney Can Organize and Coordinate All Parties during the Closing
Closing on a property involves several entities working in concert to make it happen. A real-estate attorney can coordinate those parties, and keep communication flowing properly between all involved.
It's definitely possible for a breakdown in communication to cause you issues with closing on the home you want. Communication becomes especially important when there are parties involved who have some say on what happens with the property. That can include the HOA, county departments, and stakeholders, such as those who have judgments on the property.
A Real-Estate Attorney Can Review All Documents and Make Sure Everything Is Ready to Go
Always keep in mind that the transfer of property is a legal process. There's a lot of paperwork and language only a real-estate attorney can properly decipher and explain.
The closing process finalizes all payments, records, and disbursements. It's a good idea to make sure everything will occur precisely as written. The real-estate attorney will handle that for you by making sure there are no mistakes or traps in the documentation.
As you can tell, a real-estate attorney can play an incredibly important role during closing. When you're looking for houses for sale, you need to anticipate everything involved in the process. A real-estate attorney can help with that.
To learn more, talk to companies like Prime Mountain Properties.
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