Real estate lawyers specialize in the practice of law related to the exchange of real property, meaning land and the structures built on it. That is to say, a real estate lawyer typically represents a seller or buyer during the closing of a house. The aforementioned course summarizes what we do at Kiriak Law. These specialists also act as liaisons between buyers, sellers, realtors, and real estate agents. Real estate lawyers will review all paperwork and legal documents related to a real property sale to screen for any omissions or legal issues. Most states require a real estate lawyer when closing on a property. Let’s dissect what Real Estate Lawyers do. To begin with, this category of legal practitioners gets involved with reviewing legal paperwork. That is to mean a real estate lawyer will screen all of the paperwork related to the exchange of a property to make sure that details are accurate and that their client’s best interests are represented. This includes documents such as home purchase agreements, title insurance policies, mortgage documents, property tax documents, and transfer documents.
Also, they arrange title searches. Real estate lawyers may work with a title company to perform a title search on the property prior to closing to ensure that there are no existing liens of claims to the property. This ensures that the home buyer will be the sole holder of the title. Representing buyers and sellers during closing is part of their work. A real estate lawyer will typically accompany buyers to the closing of their home, when the funds and title are transferred, to ensure that the proceedings are legal and binding. The lawyer’s flat fee or hourly rate should be included in the buyer’s closing costs. A real estate lawyer may transfer the funds from the buyer’s account to an escrow account that the buyer will be paid from when the home closes. If a mortgage lender is financing the home purchase, the lawyer will also handle all the mortgage loan and borrowing agreement paperwork. Lastly, it is prudent to state that a real estate lawyer will represent their client during any real estate disputes such as chain of title disputes, zoning law issues, or foreclosures. The lawyers will also represent their clients if the dispute ends up in a courtroom. Visit Kiriak and experience the best of the above-mentioned services.
