The purchase or sale of a home is often the largest transaction an individual will partake in during his or her lifetime. Often this is a very emotional time. As the purchaser or sellers attorney I attempt to ensure that the transaction goes as smoothly as possible.
Once a purchaser finds that perfect home, the brokers usually help the seller and purchaser prepare and execute a contract. Before the seller or purchaser signs the contract they should make sure that there is a “attorney approval" or “attorney modification” clause in the contract. If there is no “attorney approval” or “attorney modification clause” they should not sign the contract. Most contracts that realtors use contain these clauses. When I am working with a seller who is not represented by a real estate agent, I prepare the sales contract for the seller.
As the seller's or purchaser's attorney you deal directly with me. You are not passed off to an associate or an assistant. I keep my clients informed of what is transpiring through the entire transaction so that my client can make informed decisions. I review the contract to determine if any modifications need to be made to the contract to protect my client.
Most contracts will contain a “home inspection period” allowing the purchaser to hire a professional inspector to inspect the property for defects. I negotiate inspection issues with opposing counsel.
As the seller's attorney I order title insurance, a survey, association information and paid assessment letters, prepare the deed and all other documents that need to be signed.
I work with lenders to provide the title commitment and any modifications made to the contract to the lender.
Real estate contracts contain deadlines that must be met, such as obtaining financing approval or selling a current home. If these conditions are not met, and extensions have not been requested, there could be serious ramifications. I ask for extensions of these deadlines if necessary.
I advise the purchaser on what documents and how much money is needed to be brought to closing.
At the closing, I review and explain all the lender's documents which need to be signed by the purchaser. If the documents do not contain the terms the purchaser agreed to with the lender, I work on resolving the differences.
As the purchaser's attorney I review the seller's documents to make sure that these documents were prepared correctly. I also ensure that the title is clear of any encumbrances. In addition, I negotiate any final walkthrough inspection issues.
Whether you are the seller or the purchaser, your interests will be protected when I represent you.
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