Whether you are buying or selling real estate, having a real estate attorney overseeing your closing ensures that everyone understands this complex legal process and that the transfer of property is above board. A clear property title is essential for the buyer and lender in a real estate closing.
Once the purchase agreement has been received, AGF will evaluate the restrictions, encroachments, easements, and whether the title allows the seller to transfer it to the buyer without any exceptions. We will then identify if there are existing mortgages or liens on the property that must be satisfied in order to transfer the title over. The closing attorney can offer explanations for any confusing documents, such as the deed, settlement statement, and loan documentation. After reviewing all the documents, the real estate closing attorney will make a final review of the title and deed, then issue the final opinion on the title and pay the title company. The closing attorney will then distribute all of the funds in the transaction, such as brokerage fees, county taxes, homeowner’s insurance premiums, inspection fees, seller’s proceeds, and the attorney fees.