10 Apr Using an Attorney for Closings
The reason is simple: those who don’t hire an attorney for their title and closing needs risk major dilemmas. Other companies that offer title services, unless stated otherwise, do not have legal counsel. Without an experienced Real Estate attorney, common inconsistencies in contracts are not discovered and legal changes cannot be made according to your personal needs.
Lawyers have the knowledge to review and revise all restrictions and covenants on real estate contracts. In addition, the relationship with clients means that lawyers know their personal goals. For example, if there is no boat slip included on a contract to purchase a house in a community that offers a Marina, only a lawyer can draft a legal and binding addendum to that contract in order to let the seller know that their client will not buy without a boat slip included for a sailboat. Without legal counsel, this kind of option would not be presented. Other real estate service companies would not know or even care if a buyer has a boat.
Beware of anyone illegally practicing law, including drafting contracts, without a license. A lot of times, lawyers are brought in years later when the owners learn that they don’t really have a good title on the house they bought years ago! Without a good title, a lawyer will need to be hired to make sure the property can be sold and that it will be inherited by designated heirs, not the government. This happens frequently – someone passes away thinking that their house will be left to their spouse or heirs. However, due to discrepancies on the title from the original purchase of the property, the house will not be rightfully distributed. In such cases, lawyers are brought in to review all the real estate documents to find the problem. This expensive result can all be avoided by using an attorney at the very beginning to make sure that all your property affairs are in order and you get the most out of your purchase. Using a Real Estate Lawyer is the most effective and secure way to close on a property.
If you have questions or would like to learn more about our Real Estate Closing Services, contact