We do not add an attorney fee to the customary closing costs charged in a routine real estate closing, where we act as the settlement agent.
More often than not, we charge a similar amount as a title agency for the same services.
Every real estate closing is different, some are complex and challenging while others are smooth sailing from the beginning.
Frequently, the difference between a smooth and efficient closing; one that consummates on time, and one that is either delayed or falls apart at the table, depends on the knowledge, skill, diligence, and experience of the closing agent managing the settlement process.
Whether it is a cash transaction, a mortgage or refinance transaction our experienced real estate closing attorneys and support staff have the expertise necessary to professionally manage the real estate closing process and accurately settle the transaction.
We are committed to making sure the closing process goes as smoothly and efficiently as possible. Find out more about our closing services, give us a call at (407) 259-2426 or Schedule a Consultation
No matter your position in the transaction we can represent you; and most often for the same amount you would pay a title agency. It is important to understand that if any legal issues or questions come up at the closing table only an attorney that represents you can provide legal advice.
We provide real estate closing services for cash purchase, cash out, mortgage, refinance, REO, Short Sale, and FSBO types of transactions, and more, for both commercial and residential properties.
We provide the following real estate closing services:
For the typical residential closing there are generally five participants; seller, seller’s agent, buyer, buyer’s agent, and the closing agent. Sometimes a representative for the lender will attend as well. Who participates in a commercial real estate closing will vary based on the transaction. Due to the nature of commercial transactions participants are almost always represented by an attorney.
Both buyers and sellers rely on their real estate agents to navigate them through the purchase or sale process. And, although they usually attend the closing with their respective client, they legally can’t answer questions about the documents or the language in the documents presented at closing, nor can they advise on a whole swath of issues that could come up at the closing table.
Similarly, the closing agent cannot provide legal advice or opinions about the closing documents. The title/closing agent provides the title policy and prepares the closing documents and conducts the closing ceremony.
If a loan is being used to purchase the property then the lender prepares a closing package that includes the closing instructions; as-well-as, the deed.
If you are paying cash for the property, the seller’s attorney would prepare the deed and other necessary documents, who then sends them to the closing agent for execution at settlement.
In either case, the non-attorney, settlement agent cannot explain the terms, review the documents, provide an opinion about the title abstract and commitment, prepare an addendum, or provide any recommendations. Only an attorney can do those things.
Purchasing real estate is an expensive proposition that can have legal consequences. Selling real estate can expose the seller to legal liability. If you do not fully understand the closing documents and the documents you are signing, there could be severe consequences for both the buyer and the seller.
As the buyer you could get stuck with a defective title, inadequate insurance, or irregular mortgage terms. You could get stuck with extensive repair bills due to an undeclared addition that was not properly permitted, undeclared problems with the property, or easement issues. There are a whole host of other issues that could occur.
As a seller, without adequate representation, there is always a possibility that there are grounds for a lawsuit for misrepresentation or breach of contract. Moreover, you are still responsible for accrued interest, late fees, and penalties if the seller’s mortgage or liens are not paid-off in a timely manner after the closing. What if you are selling just one lot of a multi-lot property? You’ll want to make sure you’re not selling more than intended, or the wrong lot.
As a buyer you want the real estate you think you are buying, in the condition you thought you were buying it in; without the debts or problems of the previous owner being attached. Moreover, as the buyer you want to make sure the transaction reflects the negotiated terms. Especially if non-traditional types of financing are involved.
As the seller you want to make sure you are not accused of misrepresentation, fraud or some other type of malfeasance. Similarly, as the seller, you want to make sure the transaction reflects the negotiated terms, especially if you extend seller financing with a mortgage or there is some other complicated financing arrangement.
The bottom line is, whether you are a buyer, seller, investor, lender, or have some other vested interest in the transaction, you want to avoid being ripped-off or being accused of something and getting sued. Additionally, the more complex the transaction is, the greater the potential legal liability you open yourself up to.
In the broadest sense, the job of a real estate closing attorney, whether the transaction is residential or commercial, is to make sure your rights and interests are protected within the transaction. They make sure that closing instructions are carried out in the manner agreed to by the parties. And finally, their job is to make sure you don’t fall into murky legal water and unnecessarily open yourself to liability. What they do to accomplish that job depends on who they are representing.
In this role the real estate closing attorney primarily represents the transaction. They are responsible for making sure the closing process, all conditions, terms and instructions of all parties are properly fulfilled. Additionally, the closing attorney will work to keep the closing moving forward by trying to resolve minor disputes and title issues that may arise; often at no extra charge.
As the buyer’s closing attorney, we represent only the interests and needs of the buyer, not the transaction, not the seller, not the lender, and not the title insurance company. We work to make sure all conditions set forth in the purchase agreement and any other relevant conditions are met prior to, or at, the closing.
We work with all parties in the transaction; including real estate agents, sellers, and the lender, to resolve any outstanding issues prior to closing.
When we represent the seller at closing our priority is to make sure that their obligations to the property, after it is sold, are 100% satisfied. No one wants to get embroiled in a lawsuit because something was missed or done incorrectly. We will thoroughly review all documentation to make sure your rights and interests are protected; now and in the future. If disputes or legal issues come up during the closing process, or at the closing table, we will work to resolve the issue to your best interest.
We believe that leveraging a clear and concise process; along with proper planning and communication, is the best way to make the process as smooth and efficient as possible.
Whether you are buying, selling, or have a vested interest in a transaction, we can represent you at the transaction settlement. Having a real estate attorney represent you throughout the closing process, and at the closing table, provides a peace of mind knowing that the documents that are presented and signed are correct and executed properly, further ensuring that, your interests are being protected.
No matter the scope, or complexity, of the transaction; from a simple residential purchase, a portfolio of fifty residential homes, to large commercial and developer transactions, we will work diligently to proactively address issues before they become a problem and delay closing the transaction.