When acquiring their first house, the vast majority of people will, for the very first time in their lives, seek the assistance of a legal professional. Your real estate agent will most likely provide you with a number of recommendations, but the option that you decide upon will eventually be the one that prevails. In certain regions, the closing process will be managed by the title insurance company, while in others, it will be handled by an attorney. Both of these roles are necessary for a successful transaction. According to the information presented in this condensed review, you should anticipate the following from a real estate lawyer and the legal team that they have working for them.
Secretary of the Court
This is the first person you are going to see when you go into a law office, and if you contact the office, this is the first person whose voice you are going to hear when you make your initial inquiry. As soon as legal secretaries have handed over the necessary paperwork to you, you will be able to start the process of working on the house closing. They will take care of making appointments for you and providing the attorney and paralegal with any information that they require to do their jobs effectively.
In the vast majority of smaller firms, a single person fulfills the roles of both secretary and paralegal. On the other hand, larger organizations often provide a separate paralegal to each of their attorneys. Get ready for the possibility that the documents that will be brought to you for approval will first be prepared and then modified by paralegals. The paralegals will keep you informed about the latest developments in the case, answer any questions you may have, and communicate any concerns you may have to the attorneys handling your case. They will make contact with your lender, do the title search, make arrangements for title insurance, and maintain a record of the paperwork that is still necessary. It is a frequent practise for paralegals to testify in court proceedings and notarize papers related to the close of a case.
In the majority of cases, once you have seen the attorney for the first consultation, you will likely not see them again until the time of the closing. The vast majority of real estate attorneys perform their work behind the scenes, delegating responsibility to the paralegal to ensure that every detail of the case is addressed and that it remains on track. If the law office is not very large, the attorney may also be responsible for preparing legal papers, obtaining information from the lender, and making arrangements for title insurance.
This is particularly likely in situations when the law practise is quite small in size. Once the loan has been paid off in full, the seller will provide the keys to the attorney, and the attorney will keep them secure until your loan is authorized and the deed is registered. It is vital that the paperwork be filed accurately, and once you have signed all of the relevant documents at the closing, the lawyer is the one who will typically hand over the keys to your new home.
In many areas of the country, the closing of a real estate transaction must be handled by an attorney. On the other hand, in other parts of the country, title companies are responsible for taking on these obligations. Ask the real estate agent that you are dealing with about the standards that are followed in your region of the country so that you are aware of what to expect.