Real Estate Law

I can take you from the pre-planning stage through completion of a real estate transaction.

There are three attorney roles in a typical real estate transaction:

Buyers’ Attorney

• Explains the entire process in advance and provides initial advice.
• Can help find the appropriate realtor, lender and home inspector.
• Can review and advise on Offer to Purchase.
• Reviews condominium documents as necessary.
• Makes sure Purchase and Sales Agreement protects Buyer and is not overly slanted toward Seller.
• Advises on resolution of issues raised during home inspection.
• Reviews HUD Settlement Statement and makes sure all charges to Buyer are proper.
• Anticipates, and resolves in advance, issues that may arise at closing.
• Attends closing and advises Buyer on documents as necessary.

Seller’s Attorney

• Explains the entire process in advance and provides initial advice.
• Reviews – and advises on – any agreements between realtor and seller.
• Writes and/or reviews and revises Purchase and Sales Agreement to minimize Seller’s exposure.
• Holds Buyer’s deposit in escrow until closing.
• Provides documentation to resolve any defects in Seller’s title.
• Prepares deed.
• Reviews HUD Settlement Statement and makes sure all charges to Seller are proper.
• Attends closing and advises Seller on all documents.
• Represents Seller at closing under power of attorney if Seller is unable or prefers not to attend the closing.

Lender’s Attorney

• Has title researched and reviews it thoroughly.
• Obtains Municipal Lien Certificate, mortgage payoff statements, and other documentation in order to ensure clear title.
• Prepares HUD Settlement Statement documenting all elements of the financial transaction.
• Conducts closing.
• Ensures that the mortgage is funded and mortgage and other documents are properly recorded before disbursing funds.
• Pays off Seller’s mortgages, liens and taxes as necessary.
• Disburses funds.
• Writes Lender’s title insurance policy.
• Can also write Owner’s title insurance policy for Buyer if requested at the same time.

Involve your attorney at the earliest possible opportunity.

To avoid uncertainty and achieve continuous representation throughout the purchase, a Buyer should ask his or her lender if Buyer’s attorney can also be Lender’s attorney.