Real Estate Closings
Real Estate Attorneys are a critical part of the home buying and home selling processes. Legal representation can cost both current and soon-to-be homeowners anywhere from a few hundred dollars to well over one-thousand. Legal Resources Members can breathe a sigh of relief, however, as real estate matters are listed under the fully covered services included in the Legal Resources Legal Plan.
When it comes to a real estate closing, what purpose does your attorney serve?
Whether you’re buying, selling, or refinancing a home, you’ll need legal representation. During home sales, your real estate attorney provides a host of services before and during closing. Attorneys representing buyers assemble all documents necessary to transfer ownership of the home to their clients. They communicate with lenders to obtain mortgage information, review home insurance policies, walk you through the specifics of a sales contract, and much more.
Now, let’s talk about sellers. In addition to the duties performed by attorneys on behalf of buyers, a seller’s attorney examines the home’s title to ensure it is clear and marketable. Should any liens or clouds on title appear, your real estate attorney will walk you through the steps to eliminate title issues and get you successfully to closing. They’ll also help you prepare the deed for sale.
In addition, real estate attorneys also help you understand the allocation of closing costs. A variety of monies are disbursed during closing; your real estate attorney can help you understand how and why they are distributed throughout the process.
Lastly, refinancing your home also requires a closing. Having a legal plan guarantees significant savings in closing costs in these situations. According to our 2020 Member Survey, seeking legal representation for refinanced homes was among the top uses of our Legal Plan last year.
To learn more about the fully covered services included in your Legal Plan, review your Master Plan Contract or contact Member Services at 1-800-728-5768.