Have you recently taken any action toward buying a new house? If so, you already know that finalizing the deal is your primary objective. A skilled specialist should always handle the closing on your behalf because there are many tasks—large and small—that need to be taken care of.
Continue reading to learn more about the role of a closing attorney and what they’re responsible for.
The first way an experienced closing attorney will help is by performing a title check. This step ensures that there isn’t a third party laying claim to the title and that you can purchase the property as planned. The closing attorney will carefully review the title and make sure that everything is in order. This investigation is carried out so that your lawyer can certify that the title is free and clear for you to claim.
Reviewing every piece of paperwork related to the sale is another crucial task that a closing attorney will carry out on your behalf. Your closing attorney is in charge of ensuring that the loan, settlement statement, payout, and deed are all in compliance with the law.
Your closing attorney will alert you to any irregularities if they are found. You may then be able to bargain with the owner of the documents to come to an agreement that will allow you to complete the transaction.
A closing attorney is incredibly important at the review stage because many of the documents under scrutiny are complex and may be full of legal jargon. While anyone can read through them, laypeople may not have the time to go through the paperwork with the necessary attention to detail. A closing attorney will review all documents with a fine-toothed comb and can act on irregularities that arise.
A date and time to close the deal are set once all of the closing papers have been approved. The closing attorney oversees all aspects of the purchase and sale transaction’s closure and responds to any questions either party may have about the deal or the closing papers. The buyer signs the buyer’s documents and the loan documents (if the purchase is financed), and both parties sign the HUD-1 settlement statement. The seller also signs the deed and other seller documents. Following the closing, the seller, real estate agents, lawyers, and other parties are paid, and certain paperwork is submitted to be recorded in the county where the property is located.
Once this step is completed, the sale is final, and you can rest assured that the closing has been well-recorded by your closing attorney. It’s crucial to have your deal reviewed by an attorney before you finalize the transaction. By doing this, you can make sure that every aspect is finished to your satisfaction. KousLaw PLLC is experienced with closing real estate deals in Florida and can help you enjoy a hassle-free closing. Contact us today to get started!