Selling Your Home: 4 Reasons to Have an Attorney Present at Closing

When it comes to buying or selling a home, the closing phase is essentially all about fulfilling the terms of the contract. It is when the money and relevant documents are exchanged so that ownership of the home can be transferred from the seller to the buyer. It is extremely important to ensure that everything goes as smoothly as possible during closing to avoid any inconveniences in the future. The best way to protect yourself is by having an experienced attorney present at the closing stage. Here is how this can help. 

1. Promoting Clarity 

One of the most obvious benefits of having a closing attorney when buying a home is that they can help make the process more clear, especially when you are dealing with complicated documents and procedures. The attorney will ensure that both parties understand anything that is not clear to you in the titles, purchase agreements, and other documents. Part of this responsibility involves examining all the documents to ascertain that everything is written accurately and providing a final review. If they discover any issues, they can help resolve them to the satisfaction of both parties. 

2. Clearing the Title 

Once you have accepted an offer, a title report for the house will be required. This could unearth a whole new set of issues, including unpaid balances from lenders, trust complications, property taxes, etc. These issues can take a lot of time to be resolved. If you have a real estate attorney at closing, he or she can help prepare the documents needed to clear the title. 

3. Assisting with Negotiations

In some cases, the buyer may want to negotiate on the purchase of the property, especially if it requires some type of repairing. In this case, your closing attorney can work with your real estate agent to negotiate a reasonable solution, depending on the severity of the repairs. These solutions could include lowering the asking price, proving that the repairs are not necessary, providing a repair credit, or making the repairs. 

4. Reviewing the Fees Incurred During the Home Sale 

There are certain fees you have to pay when selling a home. These fees include homeowners insurance, property taxes, any outstanding mortgage balance, and your real estate agent’s commission. Before you pay anything, run the payments with your closing attorney to ensure that you are not being overcharged. An experienced attorney can also be able to spot errors that might end up being costly, for example miscalculations or typing errors. 

In addition to the benefits outlined above, a real estate attorney can also help facilitate the actual closing process. Using effective communication and interpersonal skills, the closing attorney can go a long way toward ensuring that both the buyer and seller are satisfied with the home sale. To speak with an attorney today, please contact us here.

Written by Reyes Law Group