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Attorneys and Closings

What does an attorney do in the closing process?
3/10/2013 2:52 PM

An attorney, and their staff, may provide one, or typically several of the following services, along 
with many additional services:


·        Provide advice concerning contract drafting.

·        Give advice on the legal implications of the contract and other documents.

·        Assist in negotiation for the purchase or sale where required.

·        Obtain and examine title evidence to assure good title to the property.

·        Order and review of a property survey.

·        Request payoff statements for any encumbrances.

·        Obtain or review a commitment for a title insurance policy.

·        Coordinate the closing with other professionals in the transaction.

·        Prepare a statement of closing costs including proration of taxes, etc.

·        Prepare and review loan documents.

·        Prepare or review deeds transferring the property.

·        Close the transaction and explain the documents involved in the closing.

·        Collect and disburse the funds required for closing.

·        Obtain releases of the Deed(s) of Trust and other encumbrances affecting the property.

·        Manage recording of the Deed, Deed of Trust and other documents.

·        See to the issuance of title insurance.

·        Follow up on post closing matters.

In a commercial transaction, many additional services may be included.




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JOEJOE  (1/09/2015 6:27 AM) 
They **** up a good deal.....
 
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Joseph T Kirkland
Attorneys and Closings

Joe is an attorney and Senior Underwriting Counsel with CloseTRAK and provides closing services for all types of real estate transactions.
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