REAL ESTATE CLOSING ATTORNEY SERVING GAINESVILLE, FLORIDA
An experienced closing attorney can ensure 100% success of your transaction.
Helping you navigate buying a home
Experienced professionals at Itasca Legal Law Firm are here to assist you through the entire process of buying/lending or selling real estate.
Buying or selling a real estate property is not something you do every day. It’s understandable if you’re not familiar with this transaction and need help. In fact, it is recommended that you have an experienced professional walk you through the entire process of buying or selling a real estate property.
Here's what a closing attorney offers you:
Serving Gainesville, Florida
Title Examination
Coordination
Review of Documents
Record and Disbursement
Title Examination
Title examination is the first and foremost step of purchasing real estate, and it is something that you just cannot miss. Without a clear title, the process can be quite complicated and might result in problems for the buyer or lender. Title examination involves inspection of the title of the property to make sure the property has no encroachments, restrictions, existing mortgages, or any other issue that the buyer/lender needs to be aware of. Once the purchasing agreement is purchased from the bank, the closing attorney will check the title for any existing mortgages or encroachments. The closing attorney will make sure the property is fit for selling or lending and can be transferred without any hurdle. It is important for the buyer to be aware of any existing charges, liens, judgments, or mortgages that need to be paid on the property. These charges need to be addressed before the deal is closed. One of the advantages of having an attorney perform your closing, as opposed to a non-attorney title agency, lies in our ability to modify contracts, provide legal advice, and fix the problems that may prevent you from closing.
Title Insurance
Title insurance is the next step in real estate transactions, and it must be done to avoid any problem with the property in the future. Title insurance is done by our closing attorney, who, after examining the title, prepares a draft of opinion for the title insurance company that offers a title binder. This title binder protects the buyer or lender in case any pre-existing problem related to the property comes into notice later on. Title insurance is mandatory for the lender to ensure that it is in the first lien position of the property. Title insurance is optional for the buyer if the buyer is not financing through a bank or mortgage broker. However, if the purchaser intends to finance through either of the two, it is a prerequisite in financing. Title insurance ensures that there are no possible claims of interests or existing charges against the property. While title insurance is optional for the buyer if they do not intend to get financing through a bank or mortgage agent, it is still recommended to obtain title insurance as it protects the rights of the buyer in the future and comes at a very nominal price.
Coordination
Transaction of real estate involves communication and approval of several parties, and for someone not familiar with every detail of the process, it is next to impossible. An experienced closing attorney can help you through the entire communication and coordination that is required in purchasing/lending/selling a real estate property. A closing attorney ensures smooth communication between the primary particles: buyer, seller, and lender. Other than this, the attorney also coordinates with any home inspectors, contractors, insurance companies involved, brokers, tax department, and any other party that is associated with the deal. The closing attorney ensures that issues of all concerning parties are resolved before the finalization of the deal. Moreover, the closing attorney also prepares a settlement statement and ensures transparent communication regarding the prerequisites of a deal. Timely communication is required to ensure a smooth process of purchasing/selling/lending the property.
Review of Documents
Purchasing, selling, or lending real estate involves a lot of paperwork. If you’re not a frequent seller/purchaser, you might be unfamiliar with many documents, such as a sale deed, deed of trust, or a settlement statement. Moreover, missing any of the documents can create inconvenience for you as well as the seller. A professional closing attorney can help you gather all the required documents and ensure a smooth transfer of the property. A closing attorney can also guide you regarding papers or documents that you are not familiar with. Professional lawyers at Itasca Legal Law Firm can guide you regarding all required documents and help you gather the documents at once to avoid any inconvenience.
Record and Disbursement
After reviewing the required documents, the closing attorney helps to finalize the deal through recording and disbursing the funds of the deal. The attorney reviews the documents, the deed, and the title before paying the title company. The attorney checks the local registry to update the title and record the deed. After that, the attorney disburses the fee to all concerned parties, including brokers, insurance companies, tax departments, and any other party involved.
