Buyers / Sellers / Banks

Why hire a real estate attorney?

Attorney for Buyer

An attorney's services are critical to ensure that every real estate transaction is as problem-free as possible.  Often times, buyers believe that the bank's attorney is also their attorney.  This is not the case; even though the buyer is obligated to pay for the bank's attorney, the attorney representing the bank has the primary job of making sure the bank's interests are protected, not the interests of the homebuyer.  Although many of the interests of both the bank and the buyer are the same, such as ensuring good title to the property, the buyer often has interests above and beyond those of the bank.  

The following are just a sample of the many services provided to Buyers:

  • Consult with client on issues such as how to take title, information on what property to be purchased (single family, multi-family, second home, etc.) and what types of financing can be obtained
  • Review offer to purchase
  • Review or prepare the Purchase and Sale Agreement and negotiate its terms
  • Review home inspection, pest inspection, Title V and other reports
  • Attend closing to review paperwork and explain documents
  • Establish escrows to correct title or complete construction
  • Arrange title insurance protection for cash buyers
  • Prepare Declaration of Homestead
  • Prepare and negotiate use and occupancy agreements

Attorney for Seller

The following are just a sample of the many services provided to Sellers:

  • Consult with client
  • Review or prepare the Purchase and Sale Agreement and negotiate its terms
  • Prepare deed
  • Prepare power of attorney, if necessary
  • Address title issues that may be raised from the title search
  • Attend closing to review paperwork and explain documents that the seller required to sign
  • Handle escrows to correct title or complete construction
  • Obtain payoff information for existing lien holders
  • Obtain 6(d) Certificates and Certificates of Insurance (for condominium transactions)

Attorney for Bank

The major responsibility of the bank attorney is to perform a title examination to determine if there are any items that may potentially interfere with the  bank's security interest in the property.  There are numerous problems that may affect the title to property such as mortgages, taxes, mechanic's liens, zoning and conservation issues, easements, bankruptcy, foreclosures, attachments and judgments just to name a few.  An experienced real estate attorney will be able to detect these problems and have them corrected prior to the closing date.

The following are just a sample of the many services provided to Banks and other Lending Institutions:

  • Order and review title
  • Order and review plot plan, if necessary
  • Order and review municipal lien certificate
  • Provide note, mortgage and other loan documents
  • Prepare Closing Disclosure (CD) Statement in compliance with legal requirements
  • Schedule closing date and times
  • Conduct the closing and confirm receipt of good funds prior to recording
  • Record deed, mortgage and other necessary documents with the appropriate Registry of Deeds
  • Payoff existing mortgages and liens and obtain appropriate releases
  • Certify title to lender and buyer and prepare title insurance policies

(508) 668-6900