Navigating the Closing Process: Unveiling the Vital Duties of a Real Estate Attorney
Real estate closings are complex processes that you can’t simply undertake without the assistance of an attorney. There are multiple documents to fill in and contracts to sign. Also, you have to deliver the proceeds to the correct party. If you’re planning to buy your dream home in Parkland, FL, here are some of the reasons you might need a closing attorney.
Before closing on a property, it is essential to have an in-depth title examination. This will allow you to determine if there are any issues with the property that could potentially impact your ownership rights. A real estate lawyer will review all relevant documents and use their expertise to identify any potential problems with the title. With his approval, you can proceed with the transaction without worrying about your ownership rights.
Once you have found the house you want to buy, the next step is to review the contract and make sure all of the terms are fair and favorable for you and the seller. A real estate closing lawyer will carefully inspect the fine print in the contract to ensure that there are no clauses that could be disadvantageous for you. He will also negotiate with the seller on your behalf to ensure that all of the terms in the contract are fair and reasonable.
Disbursement of Funds
The real estate attorney will also be responsible for ensuring that the funds from the sale are appropriately disbursed. He will ensure that the seller receives the total purchase price and that all necessary taxes and fees are paid. Once all of the funds have been disbursed, he will then prepare a deed transferring ownership of the property to you.
Once the paperwork is done and the funds have been disbursed, the attorney will prepare a deed. This document is used to transfer property ownership from the seller to you and will be sent to the county clerk for filing. He can also ensure that there are no liens or encumbrances on the property so that your new title won’t be affected.
In addition to the deed, several other documents need to be prepared for the closing to be completed. The real estate lawyer will prepare all of these documents and ensure they are correctly executed. He will also file them with the appropriate government office to do everything accurately and promptly. Remember, documents prepared by an attorney have to be filed according to strict government standards, so you should never attempt to complete the closing on your own.
Collaborating with Lenders
At the closing, a real estate lawyer will also work closely with lenders and title companies to ensure that all necessary steps are completed correctly. He can usually streamline this process by ensuring that everything is done correctly from the very beginning. Lenders are often more receptive to working with an attorney because they know that all paperwork will be handled correctly.
As you can see, there are many responsibilities that a real estate attorney has to handle when closing on a property. While you might be tempted to try to do everything yourself, it is always best to hire an experienced lawyer to handle your real estate closings. Are you buying your home in Parkland, FL? Contact our team at Expert Title Company today for professional real estate closing services.