If you are planning to purchase a property, it is essential to have a real estate lawyer by your side. A real estate lawyer can help you navigate the process and protect your interests along the way.
In a purchase transaction, the lawyer will review the purchase agreement and other documents to make sure they are in your best interests. In most transactions, the agreement of purchase and sale will be prepared by the real estate agent. However, it is still important to have a lawyer review the agreement to make sure that it meets your needs and that you understand all of the terms.
The lawyer will conduct title searches to make sure there are no outstanding issues that could affect your ownership. The lawyer also acts for the lender and receives mortgage instructions from the bank. Once mortgage instructions are received, the real estate lawyer will prepare documents for you to sign prior to the closing.
Once the documents are prepared, the real estate lawyer will schedule a meeting to review and sign all of the necessary paperwork and pay any remaining fees or costs. Once mortgage funds are received, the real estate lawyer will coordinate with the seller’s lawyer and transfer funds. The lawyer is available to answer any questions you may have along the way.
If you are planning to purchase a property, make sure you have a real estate lawyer by your side. They can help you understand the documents, protect your interests, and ensure that the purchase goes smoothly.