You are advised that this information is presented to you only as a guideline. For specific advice, prior to taking any action, consult with your attorney.
Attorney
Do you need an attorney?
What does an attorney do for you?
Do you need an attorney?
You are not required to retain an attorney when you purchase a property, but it is advisable, since he or she will review the terms of the contract and protect your interests. When you sell a property you need an attorney to prepare the deed.
What does an attorney do for you?
Review and negotiate any necessary modifications to the sales contract (except purchase price), as this document governs the entire transaction through the closing. The sales contract defines your rights, duties and obligations.
Examine and/or issue title insurance: the seller's attorney will order or issue the title insurance, examine the title on the property, seek any necessary waivers and ensure that there are no encumbrances to the title.
Order survey: the seller's attorney will order the survey and review it to ensure that there are no encroachments.
Closing documents: Your attorney will prepare and review all closing documents including the deed, bill of sale, affidavit of title, ALTA statements and the revenue declaration. Your attorney will also prepare a statement for closing, detailing all of the debits and credits.
After the closing, as you settle into your new home, your attorney will confirm that all documents are recorded with the county recorder of deeds and that all releases and cancelled documents are returned. Usually a copy of your closing documents will be maintained by the closing office in the event you should need them replaced.
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Equal Housing Opportunity