Real Estate Purchase & Sale Contract Review
The purchase of a home is typically the most expensive acquisition that a person will make in their lifetime. Even so, it is not uncommon for people to forego having an attorney review the Purchase and Sales Agreement prior to signing it. Part of the reason may be that since the Purchase & Sales Agreement is a standard form, the person is lulled into a false sense of security. Everything in a real estate contract is negotiable. You should have your rights, obligations under the contract, and repercussions of your actions explained to you prior to signing. This will serve to make sure that you are protected in the event that the transaction falls through or problems arise. Keep in mind that once you sign the contract the attorney cannot change its terms and conditions.
Title Commitment and Closing Documents Review
Once the contract and inspection steps are completed, the next step in the process is to review the title commitment. The Title Commitment is the document that explains under what restrictions you are taking the title to your property which affects its marketability of title. The Title Commitment needs to be reviewed to ensure that you are willing to take title with the existing restrictions. Any documents that need to be prepared as per the title commitment will be prepared and or reviewed to ensure that they meet the requirements. In addition, the Closing Statement needs to be reviewed to ensure that the fees that you are being charged correspond to what was quoted to you at the beginning of the process.
Closing Documents
We will attend Closing with you. At closing we will conduct a final review of the closing documents and explain the loan closing documents prepared by the lender to you prior to your signing said documents.
