Real estate closing attorneys play a vital role in real estate transactions. They are responsible for ensuring that all of the legal aspects of the transaction are properly handled. The closing attorney is the legal representative of the buyer and seller and is responsible for ensuring that all legal paperwork is properly completed and all legal requirements are met.
In this article, we will look at the role of a real estate closing attorney.
Review all the Documents
The closing attorney will review all of the documents related to the transaction, including the purchase agreement, title documents, and other related documents. The attorney will ensure that all documents are in order and that all legal requirements are met. The closing attorney will also advise the buyer and seller on any potential legal issues during the transaction.
Prepare Closing Documents and Coordinate the Closing Date
Once the necessary paperwork has been examined and all legal criteria are satisfied, the closing attorney will draft the closing paperwork and arrange for the closing day. At the closing, the lawyer will review the documents with both the purchaser and seller, confirming that all the papers are accurately signed and finalized.
Ensure all Funds are Properly Distributed
The closing attorney is responsible for making sure that the money involved in the real estate transaction is properly handled. This includes making sure that the buyer and seller receive the payments they are due, that the closing costs are paid in full, and that the title company is providing the title insurance as it should.
Make Sure Transactions are Recorded with the Local Government
The closing lawyer is tasked with ensuring that all the necessary paperwork is correctly filed with the appropriate authority, such as the county clerk’s office, so the sale is valid and legally binding. This includes the deed and any other documents related to the transaction.
How to Choose a Real Estate Closing Attorney?
Choosing the right real estate closing attorney is important when buying or selling a home. A closing attorney will ensure that the closing process is conducted correctly and that all legal requirements are met. When selecting a real estate closing attorney, you should consider a few factors.
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Experience
Make sure you choose an attorney who has experience in real estate law and is knowledgeable about the laws in your state. Ask how long the attorney has been practicing and how many real estate closing cases they have handled.
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Reputation
Check online reviews and ask for references before hiring an attorney. Ensure they have a good reputation in the legal community and a good track record with clients.
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Fees
Ask about the attorney’s fees and make sure you understand what services are included in the fee. Also, ensure you know if the attorney charges for additional services such as title searches and insurance.
The Bottom Line
In summary, the closing attorney is important in real estate transactions. They are responsible for ensuring that all of the legal aspects of the transaction are properly handled, that all the documents are properly reviewed, and that all the funds are properly distributed. The closing attorney is also responsible for properly recording the transaction with the local government.
MacLean Law Firm LLC provides legal representation to both buyers and sellers as an estate attorney in MA. Contact us today to learn more about our services and how we can help you with your real estate transaction.
