Richard S. Weinstein: 5 Ways Your Real Estate Attorney Assists With Your Closings
You may be wondering what exactly does a real estate agent do and how can they help you with buying a new home or refinancing an existing mortgage.
- A clear title must be delivered to the purchaser and the lender must also rely on a clear title to protect the mortgage they are holding in the event the need to foreclose. A title search will be done by your closing attorney once the contract for purchase and sale is signed. A clear and marketable title ensures there are no undue restrictions, liens, judgments, mortgages or encumbrances on the title. Your closing attorney will identify the existence of any issues causing a cloud on title. Problematic issues can be addressed and hopefully resolved prior to the closing.
- Title insurance, an option in real estate transactions, protects the purchaser and lender if there ever is an issue with the title. It is affordable and worth the expense, considering the purchase of a home can be a family’s largest financial investment. Once the property is purchased, title insurance insures the purchaser against claims or liens against the property they purchased. Lenders require this insurance to secure its first lien position on the property.
- Your closing attorney searches the chain of title, arranges for the removal of any liens or other encumbrances and issues the title insurance policy on behalf of their title underwriter. The attorney also interacts with lenders, buyers, sellers, appraisers, mortgage brokers, tax officials, homeowner or condominium associations and the other party’s attorney to coordinate a smooth closing.
- A closing attorney has the experience and knowledge to review all documents associated with the real estate transaction and closing. In addition to reviewing these documents, he will explain all documents involved; the deed, note, mortgage settlement statement and all other relevant documentation.
- A closing attorney collects and distributes all monies upon closing on the transaction. He records the deed and mortgage with the local registry. He disburses payment for all costs and fees associated with the closing, including real estate brokerage fees, county taxes, homeowners insurance, inspector fees, surveyors, association dues and assessments and transfer taxes.
Richard S. Weinstein: An Experienced Closing Attorney
Richard S. Weinstein’s role is vital to your real estate transaction. It is crucial that you hire him to work with you before, during and after the real estate closing to avoid any potential problems. He is organized, trustworthy and pays attention to detail.
With over 50 years experience as an attorney, Richard S. Weinstein assists clients with the important financial situations in their lives. Whether you are dealing with bankruptcy, real estate (both commercial and residential, including short sales, foreclosures, and title insurance), estate planning, probate, business formations, or sales or mergers, Richard S. Weinstein is the attorney with the education, experience, and knowledge you need! Call us at (561) 745-3040 or visit his website at rweinsteinlaw.com.
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Law Office of Richard S. Weinstein, P.A.
250 S. Central Blvd. #101
Jupiter, FL 33458
Phone: (561) 745-3040