When it’s time to close a real estate transaction, should you have a real estate attorney present at the closing to protect your best interests? Legal experts generally agree that you should. We recommend that you have your attorney at your settlement because you may not be comfortable with sifting through and trying to comprehend the mountain of documents related to closing a mortgage loan. Buying a home is likely to be the most important financial transaction of your life. That means it’s essential to have the protection of an attorney with extensive knowledge of real estate law.
The Attorney’s Role at a Closing is Crucial
When a buyer hires an attorney to attend the closing, they offer a valuable service in studying the paperwork to ensure that all of the documents are accurate. Since most homebuyers do not often deal with contracts, and a home purchase generally requires a significant investment, it’s helpful to have an attorney verify that the documentation is correct. At the very least, they can help ensure the sale closes if issues come up.
Attorneys are especially beneficial if your transaction includes unusual circumstances. This includes things like renters living on the property. Perhaps the sale requires a complex financing arrangement. There may even be an imminent lawsuit related to the property. Having an attorney makes these situations much easier.
You Can Resolve Unforeseen Issues More Easily
Attorneys are also helpful when issues crop up without warning during the closing. For example, the buyer may get cold feet and want to back out of the deal. What if a brief online search uncovers a lien against the property? What if an eleventh-hour boundary issue arises? Attorneys can assist in resolving such issues and ensure that the deal goes through as planned. So, if there’s a real estate closing in your future, an experienced attorney can help guarantee that you won’t be signing anything you may later regret.
At Bell & Shah Law, LLC, our attorneys are well-versed in the ins and outs of real estate closings. For more information on how we can help with your real estate transaction, contact us today.
