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Why should you have an attorney at closing?

On Behalf of | Mar 11, 2021 | Residential Real Estate |

Many people realize that speaking with an attorney before creating or signing a contract is a good idea. They may know that they need to protect their legal rights during a business transaction, too.

Despite that, some don’t realize that working with a real estate attorney is important, and possibly required, in their state. Working with a real estate attorney is helpful for many reasons, but among the most significant is their assistance with the closing process.

Closing on a home as a seller is how you move forward, get the payment from the buyer and complete that transaction.

How can your real estate attorney help you during your home’s closing?

A real-estate closing attorney:

  • Explains different documents, like notes, a deed of trust, settlement statements, deeds and more, so that you can clearly understand them
  • Helps you gather loan documentation as required by the lender, so that it is ready for submission
  • Assists with disbursements that happen at the end of a transaction
  • Helps you meet the legal requirements of the state, since Florida requires an attorney to be present as part of the closing process

Sellers can appreciate that a real estate attorney is there to protect their best interests. They will help you go through all the steps of selling your home. This includes going over paperwork, contracts, changes to contracts and other circumstances that may be unique or unusual.

Real estate attorneys can help sellers with:

  • Estate sales
  • Joint sales
  • Short sales
  • Liens

All of these are important reasons to have your attorney on board from the start.

Do you need to work with a real estate agent and an attorney?

Possibly. Agents help you meet your deadlines, list your property and more, so they offer many benefits to you. Attorneys usually don’t help with putting your home up for sale or getting it listed. They also tend not to help with finding buyers or any other aspect of marketing your home. So, for most people, working with both parties is a good idea.

Your attorney will speak with you about exactly what they do and how they can help. That way, you’ll know what to expect when you begin working together.