Purchasing a home is a huge investment and a dream come true for many, especially after years of hard work. It’s a momentous occasion that requires a lot of planning, thoughtful decision making and hard work to make it happen. But with so much at stake, it’s crucial to have someone on your side who can support you throughout the process and guarantee the protection of your rights. That’s where a real estate attorney comes in. They can play a critical role in the home-buying process, helping to protect your interests, and ensuring that everything goes smoothly.
But why exactly should you have a real estate attorney with you at closing? The process of buying a home can be complex and confusing, and it’s easy to overlook important details or make mistakes. A real estate attorney can help you navigate the process and make sure that everything is reviewed and executed properly. An attorney will review the purchase agreement, title and deed, handle your closing documents, represent your interests, and simplify the entire process. In this blog post, we will discuss in detail the reasons why having a real estate attorney with you at closing can be beneficial. It’s important to note that hiring a real estate attorney can be an added expense, but the peace of mind and protection they provide is well worth the cost. It’s always better to be safe than sorry – especially when it comes to such a big investment like a home.
Here are a few reasons why you should have a real estate attorney with you at closing:
Reviewing the Home Purchase Agreement
Before closing, an attorney will review the home purchase agreement to ensure that all terms and conditions are both fair and reasonable. They will pay close attention to the details of the agreement, such as the purchase price, closing date, and contingencies. By reviewing the purchase agreement, your attorney can ensure that it accurately reflects the agreement between the buyer and seller, and that it includes all necessary terms and conditions.
For example, an attorney will review if the agreement includes contingencies like a home inspection, mortgage financing, and any other contingencies that the buyer may have. They will also make sure that the agreement includes the terms and conditions of any warranties or disclosures required by state law. In case of any discrepancy or missing information, they will discuss and negotiate with the other party to correct it. This way you can be sure that the purchase agreement is accurate and fair, and that your rights are protected.
Reviewing Your Future Title & Deed
Having an attorney by your side will also allow them to review the title and deed to ensure that there are no outstanding liens or judgments against the property. This means that they will check for any debts or legal claims that may be attached to the property, such as unpaid taxes or mortgages. If any liens or judgments are found, your attorney will work to clear them before closing.
Additionally, they will review the chain of title of the property, which is the history of ownership of the property. By reviewing the chain of title, your attorney can ensure that the title is clear and that there are no issues with the property’s ownership. This helps to ensure that you will have a good and marketable title to the property after closing. In case of any title issues, they can work with the other party to resolve them or they can advise you on the best course of action. They also ensure that the deed is properly prepared and executed, and that it includes all necessary information such as legal descriptions, names and addresses of the parties involved.
Representing Your Interests
Your attorney will represent your interests during the closing process and make sure that your rights are protected. They will act as your advocate and make sure that your interests are represented in all aspects of the closing process. They will also negotiate any issues that may arise during the closing process. For example, if there are any disputes over the purchase price, closing date, or any other terms of the purchase agreement, your attorney will work to resolve them in your favor.
They will also make sure that any contingencies included in the purchase agreement, such as a home inspection or mortgage financing, are fulfilled before closing. Additionally, if any unexpected issues arise during the closing process, your attorney will be there to advise you on how to handle them. They will also make sure that any legal documents or agreements are properly executed, and that all parties involved understand their rights and responsibilities.
Explaining the Process
As simple as it may sound, this one is often overlooked. Having an attorney by your side who will explain the entire closing process to you and answer any questions you may have is a huge stress reliever. They will also keep you informed of any developments during the closing process. This includes explaining the legal jargon, terminology, and any complex documents you’ll run into. An attorney will also make sure that you understand the terms and conditions of the purchase agreement and any other documents that you will be signing. They will also explain the closing costs and any other charges associated with the transaction. Having an attorney who can explain the process clearly, and answer your questions, can help ease your mind and make the process less overwhelming.
Concluding Thoughts
Having a real estate attorney by your side during the closing process can help to ensure your home-owning rights are protected and that your entire process goes smoothly. So, if you are a home-owner looking to purchase a home, be sure to consider hiring a real estate attorney to represent you at closing.
Don’t hesitate to contact a real estate attorney to discuss your options and have them represent you at closing. With an attorney by your side, you can have confidence that your rights will be protected and that the closing process will go smoothly. Buying a house is one of the most important decisions you’ll have to make in your lifetime, safeguard yourself by hiring a real estate attorney today!
