Do I need a Lawyer for My Closing?

By: David E. Rosenberg, Esq. - drosenberg@northeast-mortgage.com

You wouldn’t go see a general practice doctor if you needed brain surgery, would you? Why then would you go to a lawyer who wasn’t a closing attorney when you have a real estate matter? A closing attorney is a real estate lawyer who specializes in closing a property transaction. A closing attorney will work with your Realtor and/or mortgage company to draft and follow the contract, oversee the loan process and work with your bank, examine the title to a property and resolve any issues before the close. The closing attorney will review and explain all the documents that you will be signing at the closing and make sure they are accurate.

Whether you are a Buyer or Seller or simply refinancing your existing home, a real estate attorney will give you the expertise and piece of mind to close as quickly and smoothly as possible. When most homes cost hundreds of thousands of dollars, the price of hiring a lawyer is a very insignificant cost compared with the value of what you are buying or selling.  While the vast majority of closings go forward without incident, problems do arise, whether it’s an unreleased mortgage, a use & occupancy agreement or a complex environmental concern. Your closing attorney can often spot these problems and avoid even greater expenses and delays before you lose the deal.

Buying or selling a home is the most expensive transaction that most people will ever be involved in,  a closing attorney is the best way to protect your family and your investment.