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The Advantages of Having an Attorney at Closing

title companies Coral Springs

Coral Springs Title Company Discusses Closing

When buying or selling property in Coral Springs, most people use their real estate agent to navigate the closing process for them. While you are not legally obliged to have an attorney present, it can be highly advantageous to have one at closing.

In this post, we’ll explain why having a lawyer on hand could make a big difference. While the title company attorney does not represent you during closing, he rather provides a trained eye to ensure that everything runs smoothly.

The Closing Process: How an Attorney Can Help
Closing – also known as ‘settlement’ – is the final step in any real estate transaction. After you’ve viewed the property, negotiated the terms of sale, reviewed the necessary paperwork, conducted your title search and purchased title insurance, the last action is to transfer the property from seller to buyer.

But it’s not as simple as just signing a few papers. In fact, closing itself is a multi-step procedure.

The date of closing is usually decided during the negotiation phase. The day before closing, your closing agent (title company or attorney) will have to collect and corroborate all the paperwork you’ve accumulated thus far: loan and mortgage documentation, appraisal or land survey documentation, proof of your title search, the contractual agreement between buyer and seller (and their respective lenders), and proof of the two types of title insurance needed.

Having an attorney to look over all your documentation can save you a lot of time and energy. They will be able to check that you have everything you need to close, and verify that all contracts are legitimate and contain the correct information. They can also check that there are no errors in the chain of title.

Unfortunately, realtors often use standardized forms and contracts, which omit specific details you may have discussed but not finalized in writing. If there are any property-specific terms and conditions – for example, an agreement for the seller to have the interior repainted before selling – your lawyer will quickly see that these non-standard agreements are in place, and in the correct legal language.

Speaking of legal language: your attorney can also help you navigate the legalese, ensuring that you understand what you are signing. On the day of closing, it’s a good idea to review the contract once more, just to be absolutely sure that everything’s in order. Alternatively, your attorney can point you to specific sections that are worth reviewing again – the details of your interest rate, or unavoidable liens against the property, for example. Often, buyers feel pressured to sign as quickly as possible, but it’s worth taking the time to double-check everything with your attorney before signing.

Another advantage of having a local attorney with you at closing is that they will be knowledgeable of state and county laws that may affect your transaction, and ensure that the lender’s closing terms have been met.

Lastly, real estate deed of transfer needs to be recorded with the county recorder. Because of their familiarity with these systems, your attorney can make the filing process efficient, quick, and painless.

At Florida Home Title Company, we have both the legal and real estate expertise to perform all these duties, and more. Contact us for more information about how an attorney can aid the closing process.