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(360) 296-0344    
tlyden@keatingandlyden.com

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rkeating@keatingandlyden.com

How an Attorney Can Help During Real Estate Closings

Whenever you are involved with a real estate transaction, it’s important to work with an experienced attorney. Since real estate closings involve complex legal issues, it helps to have an attorney who checks all the vital aspects of the process.

How an Attorney Can Help During Real Estate Closings

Here are some of the main reasons why a real estate closings attorney will ensure smooth transactions.

Why You Need an Attorney

An attorney is essential in closing a real estate deal because he or she knows what to look for in reviewing buyer and lender documents. An attorney will examine the title document to make sure that the seller is allowed to transfer the property to the buyer. The attorney will do a further evaluation so that restrictions, liabilities and other factors are clear.

See Also: Learn some real estate legal advice to keep in mind when venturing into home deals.

Real Estate Closing Tasks

The attorney will provide the lender with an overview of existing financial facts about the property that must settle before the deal can be closed. In addition to title examination, the attorney will conduct the following tasks:

  • writes an opinion about the title for title insurance companies
  • coordinates with all parties
  • review all documents the day of closing
  • close the transaction and distribute all funds

Closing involves details that must be done carefully. When conducting the final review, the attorney must review the title and the deed, write an opinion then pay the title company. Communication with the buyer, seller and lender is crucial throughout the entire closing process.

Related Blog: Warning: Skipping Tenant Verification Can Land You in Trouble

In some cases, the attorney may have to deal with a homeowner’s association. Funds that must be distributed by the real estate closing attorney include brokerage fees, county taxes, insurance fees, inspection fees and seller’s proceeds, on top of attorney fees.

Conclusion

The reason you need a real estate closing attorney is that there are many important details that must be completed in a timely manner. You cannot afford to make errors that can slow down or halt the process due to technicalities. By hiring an appropriate real estate closings attorney who has been involved in hundreds of closings, you will have peace of mind knowing that all the necessary details were handled.

Keating and Lyden

Keating & Lyden LLC was founded by attorneys-at-law, Robert J. Keating, and Thomas P. Lyden and is based in Boulder, Colorado, and Bellingham, Washington. The attorneys specialize in providing legal advice in real estate matters to businesses and individuals pertaining to real estate management and operation including: tenancy in common agreements, partition agreements, real estate financing, homeowner’s associations and land use issues. They also provide the highest quality legal services to small business owners and entrepreneurs.

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