How Attorneys Assist With Real Estate Closings
The act of buying or selling a residential home in Indiana imposes legal obligations upon both parties. Due to the high value of most real estate transactions, a consultation with an Indiana real estate attorney knowledgeable about real estate law in Indiana could alert people to problems. Both buyers and sellers may elect to have an attorney present at the closing of a sale. An attorney might explain the nature and purpose of each document and answer questions about itemized closing costs.
Analysis of Closing Documents
The parties assembled at a closing will include the representative of the title company, the seller, the buyer, and their real estate brokerage representatives. Someone from the financing institution might also attend, and everyone might bring an attorney. During the meeting, the buyer and seller must execute numerous documents to complete the real estate sale. Paperwork will cover financing, the deed, title, and the financial debits and credits assigned to the buyers and sellers.
When you bring an Indiana real estate lawyer, you gain access to immediate advice if any questions or problems arise. If last-minute disputes emerge, your attorney might tell you about your rights under real estate law in Indiana.
Even if disputes are not an issue, an attorney could confirm that each document has been prepared correctly before you sign it. An Indiana real estate attorney might also detect the absence of necessary forms, like important disclosures or title clearance.
Some closing costs might also require adjustment, and an attorney could manage that action. With legal representation at closing, you could be prepared to address anything that appears inconsistent with prior communications regarding the sale.
Prior to Closing
Buyers and sellers might choose to consult an attorney about real estate Westfield Indiana during the earlier stages of a transaction. To comply with the Residential Real Estate Disclosure Law in Indiana, an attorney might explain a seller’s obligations about informing potential buyers about the status and defects of a residential property.
Either a buyer or a seller might wish for an attorney to review the purchase agreement prepared by the real estate broker. An attorney might propose adjusting or adding clauses to the contract to protect the client’s specific interests. At the closing, an attorney might check to ensure that the purchase agreement contains any language adjustments that the parties agreed to previously.
Learn About Your Rights
The attorneys at Webster & Garino are available to provide comprehensive advice and support during sales of real estate Westfield Indiana. State laws governing real property are complex and nuanced. We can help you understand your position. Contact us today.