Here is what you get when using an attorney for closing:
1. Review of the contract and explanation of the provisions and contingencies.
2. Providing other terms and conditions of the contract in proper legal language.
3. Legal analysis of rights and obligations under the contract.
4. Obtaining and analyzing the title search and provide legal remedies to cure any title defect
5. A search for any unrecorded municipal liens.
6. Advice on what a title insurance policy does and does not protect against, so you understand any issues with the marketability of title.
7. Preparation and legal review the closing statement and other closing documents.
8. Interpret and counsel you about all legal documents related to the title and transaction including deeds, mortgages, and closing statements.
9. Advice on how title should be taken to the home on the buying side.
10. Prepare a bill of sale to cover personal property.
11. Inform you about possible income, estate, and gift tax consequences of the sale.
12. Review the property survey and discuss any potential problems.
Without an Attorney, you may face the following:
1. Unnecessary taxes or expenses because the contract is not negotiated in your favor.
2. A contract that isn’t enforceable, complete, or consistent with your original intent.
3. Breach of contract caused by lack of full understanding of the terms and contingencies.
4. Lawsuits that can result from not understanding responsibilities for seller disclosures.
5. Finding that someone else has or is claiming rights to your property.
6. Problems with title that make it difficult for you to sell the property.
Feel free to contact me for additional details.
Bryant Title & Escrow 