Why You Need A Real Estate Attorney
Real estate law has many nuances. Hiring a real estate attorney for your transaction is a smart choice. My goal is to bring the deal to completion in a manner which is fair and amenable to both sides. For a home sale or purchase, usually my job begins after the selling price and terms have been established in the contract prepared by the realtors and the seller/s and buyer/s have signed. I will review the contract itself, negotiate any modifications to the contract with the other party’s attorney, negotiate repairs based on the home inspection report, and collaborate with the title insurance company. I will also be with you at the closing along with your realtor and possibly your lending agent. All of these parties are working for you to make sure you are protected and it is my responsibility to make sure that the entire process is properly done.
When you are buying a home:
- Review or prepare the purchase and sale contract, including negotiating its terms.
- Help you understand the contract, including how you will take title to the property.
- Check that there are no covenants, easements, liens, etc. recorded against the property that would impede your use of it.
- Ensure that all the legal documents are properly drafted and recorded.
- Clarify the terms of the mortgage and work with your lender, if necessary, to modify them.
- Scrutinize the adjustments, including taxes owing and utilities costs paid, prior to the transaction closing.
- Attend the closing and review with you all the papers you will be required to sign.
- Review the title insurance protection to protect you from losses due to title defects.
- Ensure you receive a valid recorded deed of ownership subject only to the limitations you have accepted.
When you are selling a home:
- Review or prepare the purchase and sale agreement, including negotiating its terms.
- Draft the deed, bill of sale, and other closing documents.
- If desired, draft a power of attorney and represent you at closing.
- Deal with title issues as they arise and help correct them.
- If you are selling a house, arrange for a licensed surveyor to prepare a survey of your property.
- If you are selling a condominium, obtain the pertinent association documents that must be provided to the buyer and arrange for the paid assessment letter.
- Obtain a mortgage payoff statement from your lender, if any.
- Attend the closing and review all the papers that need to be signed.
- Arrange for transfer of security deposits, if any.
- Arrange for insurance certificates if needed.
- Arrange for the wire transfer of the proceeds into your bank account, if desired.