Real Estate Closings
It is important to hire a real estate attorney to guide you through the closing process as you deal with certain documents that can be very complicated. Below is a list of some but not all of the closing documents you may deal with during a closing:
- HUD Form 1 or Disclosure/Settlement Statement. This is one to read carefully. The form will contain all the actual settlement costs and amounts. Again, the document is ripe for errors and mistakes that the normal eye may not catch. The closing agent will go over this document with the buyer and seller.
- Warranty deed. This document should include the names of the buyer, the seller and a description of the property. Often this deed also guarantees that the seller has the right to sell the property. With the signatures of the seller and buyer, this document transfers the title of property.
Another important aspect of the closing process is correctly performing a title search. Our real estate department will perform this search to ensure that the property you are purchasing is free and clear of any loans or encumbrances. If this search is not properly conducted and you close on a property with a lien on it, then that lien, or debt, becomes yours.
The closing process is very important, as it is to hire a real estate attorney. Our real estate staff and real estate attorneys will assure that you have a valid, clear, free title at closing.
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