Real estate transactions are often complex, involving substantial sums of money, difficult legal issues, and many moving parts. Our firm is prepared to represent clients in both commercial and residential real estate transactions by assisting in negotiations, drafting the necessary documents, resolving ownership issues, and guiding clients through whatever issues may arise during the transaction.
Below, for your own information, we have included the general closing process for real estate transactions. However, this information does not include everything you may need to know regarding your sale or purchase of real estate, and each transaction is different. Please contact our office for specific advice regarding your transaction.
After the abstract has been continued, it should be delivered to the Buyer’s attorney for a title opinion. If the Buyer is obtaining financing, the Buyer’s lender may retain an attorney to examine the abstract and render the title opinion. Most Buyers rely on the lender’s attorney’s title opinion and do not retain an independent attorney to examine the abstract. The title opinion for the Buyer will usually be at the Buyer’s expense. The title opinion will indicate, based on the abstract, whether the Seller has marketable title to the property. Sometimes the attorney examining the abstract will note objections in the opinion that raise questions about the Seller’s title. Most notable objections would be mortgages, outstanding property taxes, and the like.
If you need legal assistance in one of these areas, please do not hesitate to contact our office. Our firm is ready to provide you with the individualized attention that you and your family may need.