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Real Estate Information |
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Working With Your Real Estate Attorney
Purchasing or selling a home will probably be one of your largest and most important financial transactions. Before signing a contract to purchase or sell a home, both buyer and seller should consult an attorney to assure that the real estate transaction will be handled legally and professionally. Although an attorney is not a required part of the process, particularly in many states where escrow companies will attend to all closing transaction details, an attorney can protect your interests and help you resolve any potential legal problems before entering a legally binding contract. Sometimes buyers feel the need to sign a contract quickly and don't have time to initially consult an attorney. In these cases, buyers can include language in the contract that will allow their attorney time to give final approval on the agreement - usually within three to five business days. This allows both buyers and sellers to expedite the contract process without fear of inadequate legal representation. Sellers and buyers alike should familiarize themselves with the real estate transaction process before selecting an attorney. Learning the formal steps in the transaction will help buyers and sellers choose the right attorney and proceed with confidence. Throughout the process, attorneys should attend to a variety of responsibilities, including consultation prior to the signing of the contract, preparing or approving the contract, examining documents and supervising the closing of the transaction. The attorney should be responsible for preparing or evaluating documents which may be necessary for completing transfer of the property. There are usually several documents to prepare in any real estate transaction, and the attorney can evaluate and explain each document to the buyer or seller whom he or she represents. The deed, the bill of sale, mortgage, promissory note, title commitment and the closing statement are only a few of the important documents that an attorney should review with the seller or buyer prior to the closing. One of the attorney's most important responsibilities in the real estate transaction is to determine the condition of the seller's title to the property. Through this process, the attorney will discover if the seller is the legal owner of the property and if there is an unpaid mortgage or lien which must be settled before the title to the property can be properly transferred. The attorney will also discover any restrictions or easements which are on the property and the status of any unpaid property taxes or assessments. The buyer, the seller and their attorneys usually appear together at a final meeting to review all closing documents. As this meeting, usually referred to as the "closing," the attorneys help explain, sign and exchange the documents and approve or clear up any remaining financial matters relating to the transaction. After the transaction is closed, an attorney will attend to any final details such as properly recording the deed, mortgage or other necessary documents and issuing title insurance policies. Many attorneys are specialized, and it is important that you choose one who knows real estate terminology and real estate transaction processes. Before hiring someone, you should discuss all the details of the transaction with your possible candidate, including all legal costs you will incur. The attorney's duty in any real estate transaction is to provide legal expertise. Through sound advice and thorough execution of all legal responsibilities, a good attorney will help you complete your transaction swiftly and with confidence. About The Author W. Troy Swezey is the author of "WORKING WITH YOUR REAL ESTATE ATTORNEY." As a Realtor at Century 21 Paul & Associates, he has helped many individuals with their real estate needs. Visit his web site to download his free e-book, "REAL ESTATE SECRETS EXPOSED." http://www.TroyIsMyRealtor.com or mail to: TroyC21@usa.net
MORE RESOURCES: How Jordon Hudson, 24, amassed $8 million real estate portfolio within months of meeting Bill Belichick New York Post Hyderabad blues: Real estate sales in city see biggest drop The Financial Express Real estate transfers in Adams County from April 21-25, 2025 Muddy River News Real estate report: Three key factors are behind Louisiana’s surge in investment Baton Rouge Business Report Exclusive: Trump's first real estate project in Qatar to be announced by Qatari Diar, Dar Global Reuters Graham Norton’s Manhattan Carriage House Is Listed for $5.595 Million The New York Times ArchCrest opens new real estate division Northern Nevada Business Weekly Advocacy Scoop: New NAR Poll Unveiled—Tax Reform, Real Estate Policy and Voter Opinion National Association of REALTORS® Two key real estate bills take aim at industry regulations Real Estate News by RealEstateNews.com Cattaraugus County: Ellicottville home, Machias property lead March real estate sales Olean Times Herald Licking County real estate transfers for April 14-18 reach $1.4 million in Newark The Newark Advocate Richland County property transfers recorded April 21-25 Mansfield News Journal Fond du Lac County property sold for $530K in latest real estate transfers for April 21-25 fdlreporter.com Ranking Arizona: Top real estate law firms for 2025 AZ Big Media Mid-America Real Estate closes sale of 34,431-square-foot shopping center in Midtown Detroit REJournals People on the Move: New execs at HomeServices, RE/MAX Real Estate News by RealEstateNews.com Property transfers: Nursing facility, rental complex sell for more than $1 million Canton Repository Alexandria Real Estate Equities Looks Juicy But Uncertainty Keeps Me Sidelined (NYSE:ARE) Seeking Alpha The Pipeline: Commercial real estate roundup for 5.2.25 Richmond BizSense Raith seeks to raise $700m for non-core US real estate fund IPE Real Assets Blackstream opens luxury office near Lake Keowee GSA Business Report April real estate transactions CraigDailyPress.com Franklin Real Estate Development finds inspiration in Greenville’s history upstate business journal 'Slow and steady': How a couple retired early by buying one rental property a year with 5% down payments Business Insider Solano Real Estate Scene: Slow down, buy a house Daily Republic Secluded estate near Ann Arbor is Washtenaw County's most expensive home. Price: $8.99M Detroit Free Press Job Market Defies Tariff Fears to Remain Strong in April, Offering Jolt of Confidence to Homebuyers Realtor.com Solano Real Estate Transactions: May 2, 2025 Daily Republic How the Dallas Commercial Real Estate Industry Could Fare in the New Tariff Environment - D Magazine Berkshire region real estate sales – May 2, 2025 The Berkshire Edge Here's what local experts say the Baton Rouge real estate market will look like in 2025 The Advocate Real estate performance in Quarter 1, and some perspective Garden City News CENTURY 21 Real Estate and Institute for Luxury Home Marketing Launch Collaboration With New Q1 2025 Luxury Market Report Franchising.com SDSU: SDSU Imperial Valley alumnus finds new meaning in real estate career Imperial Valley Press Online Abundant listings and stable prices not enough to drive April sales in the Fraser Valley GlobeNewswire What's the most expensive property sold in Rhode Island? May 2 real estate transactions The Providence Journal Tarek El Moussa Calls for 'Real Reform' in Real Estate Industry: 'I Saw Families Lose Everything' House Beautiful Report: Health care real estate gains greater favor in Twin Cities Finance & Commerce US Commercial Real Estate Leader Peachtree Group Launches 114-Room Residence Inn in Ocean Township, Tapping into Jersey Shore’s Expanding Hospitality Market Travel And Tour World Real Estate Magnolia Reporter Costar Group (CSGP): “Bloomberg Of Commercial Real Estate” Insider Monkey Real estate transactions: Week of May 2, 2025 Inside Tucson Business Status update: 7 Upstate commercial real estate projects upstate business journal When Donald Trump mocked a real estate icon for having a 'Trophy Wife' The Economic Times Real Estate: Market Pulse (April 2025) Seyfarth Shaw LLP Compass goes retro with launch of ‘Private Exclusives Book’ - Real Estate News by RealEstateNews.com Compass goes retro with launch of ‘Private Exclusives Book’ Real Estate News by RealEstateNews.com How to Choose the Right Real Estate Broker Investopedia Real estate report: Industrial market remains ‘chronically underbuilt’ - Baton Rouge Business Report Real estate report: Industrial market remains ‘chronically underbuilt’ Baton Rouge Business Report Allied Properties Real Estate Investment Trust (APYRF) Q1 2025 Earnings Call Highlights: ... - Yahoo Inside the Family Office Advantage in Private Real Estate WealthManagement.com Windermere ‘confused’ about Compass’ claims of collusion Real Estate News by RealEstateNews.com NexPoint Real Estate Finance, Inc. 2025 Q1 - Results - Earnings Call Presentation (NYSE:NREF) Seeking Alpha Woman Arrested Again on Real Estate Forgery Charges Rural Radio Network 'We Are Going Into Winter': Boston Universities Brace For Real Estate Impacts Of Federal Cuts Bisnow This Week’s Premier Real Estate Listings TysonsToday House for Sale by Owner RiverBender.com |
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