Taperman articles

Working With Your Real Estate Attorney

It is highly recommended that you employ the services of an experienced and expert attorney when you decide to buy or sell your property. This is vital to ensure that all the procedures involved run smoothly before the final signing of the real estate transaction papers. In this way if there are any legal problems this will be properly sorted out and working with an attorney of your own choice is much better than relying on escrow companies which is the norm in many states.

It occasionally happens that there is a pressing need for buyers to sign a contract quickly without first consulting an attorney. However, they can insert a form of wording in the contract that will give their attorney extra time, normally three to five business days, to finally approve the contract. In this way both parties can have the best of both worlds: the process can be speeded up without sacrificing legal representation.

Both parties in the transaction should educate themselves as to the formal ins and outs of the transaction process, prior to selecting an attorney. This vital step will give either party the confidence to select the appropriate attorney for their individual situation. The attorney has a duty thereafter to hold consultations with their client before signing the contract, carefully checking all documents, setting out the contract and giving final approval.
Do make sure that your chosen attorney is aware of real estate terminology and transaction procedures. Before hiring someone, you should discuss all the details of the transaction with your possible candidate, and this should include all the legal costs involved in the entire procedure.

Prior to the final completion of the transaction the attorney should check over various documents with the buyer or seller. For example it is very important to that he or she ensures that the following are in order: mortgage, title deeds, deeds of the house, bill of sale, and the statement of closing. This should all be done before the sale is closed.

A responsibility of the attorney that cannot be overlooked is to make sure that the seller’s title to the property is in good order. He or she should ensure that the seller is in fact the true legal owner of the property and that there are no outstanding mortgages or liens to settle before final transference of title to the property. It will also become apparent in the course of this process as to whether there are any restrictions or easements and any unpaid property taxes or assessments.

Finally a meeting takes place, called the “Closing” which is attended by the buyer and seller together with their respective attorneys. The attorneys assist in explaining all the ramifications of the documents, supervise the signing and exchanging process and attend to any remaining financial concerns regarding the transaction. Following the closing procedure the attorneys must draw up the necessary documents mainly the house deeds, mortgage and title insurance.

Remember that a good attorney is there to provide expert legal advice for you and to perform all the legal duties involved in your real estate transaction. If you have chosen your attorney wisely you should encounter no difficulties in the whole process.

Author