What Does a Real Estate Attorney Actually Do for Buyers?
A real estate attorney plays a critical role in protecting buyers throughout the transaction process.
One of the first things an attorney does is review the contract to ensure the buyer is protected. This includes analyzing deadlines, contingencies, financing provisions, inspection rights, escrow terms, and title requirements.
Attorneys also review title commitments, survey issues, condominium documents, homeowners association restrictions, and potential legal liabilities tied to the property.
If disputes arise during inspections or financing, an attorney helps negotiate solutions and protect the buyer’s deposit.
In many transactions, buyers do not realize the legal risks involved until something goes wrong. Having an attorney involved early often helps avoid those problems entirely.
Here is a list of what I do for my clients:
- Review the Real Estate Contract
- Draft the Contract with clauses that protect your specific purchase
- Hold the escrow safely
- Prepare Addendums as needed
- Make sure the seller has the right to sell and is the right named seller
- Make sure title is clear
- Make sure there are no liens on the property
- Request Mortgage payoffs for seller
- Review association estoppels and violations if they exist
- Review inspection reports and negotiate credits
- Prepare the closing statements
- Prepare the seller documents for closing
- Work with the lenders to get to the closing table
- Sign at the closing table and explain all the documents being signed
- Disburse to all the people at closing
- Collect all the monies in order to disburse
- Remain your lawyer post closing if anything comes up after you closed.
The most expensive closing is the one without a lawyer. NEVER CLOSE ALONE®