The buying or selling of the house can be a very exciting process, but it is important to be informed about your rights and responsibilities of each stage of the process. One of the most important stages of a home purchase process is known as the closing, and it’s a wise idea to have a settlement services attorney present to help you. Your home purchase is likely to be one of the most important purchases of your entire life, but also has to do with complicated real estate law. Only a real estate lawyer can understand the complexities of what happens during the closing.
The closing itself is the most important stage of the purchase and sale transaction. Closing papers such as the deed must be prepared for this special event. During the closing, the title officially passes from the seller over to the buyer. The buyer will at this time pay the remainder of the purchase price. In many cases, the balance is paid partly from the proceeds of the mortgage loan. An attorney can be extremely helpful for explaining the various concepts indicated within the closing paperwork. For example, a closing statement would explain the credits and the debits to both the buyer and seller.
A settlement services attorney can be important for explaining these concepts and how they impact both parties in the purchase and for answering questions during the closing process itself. The process of buying a home is already nerve-racking and possibly even a little overwhelming, but having a settlement services attorney at your side can alleviate these fears.