An impartial real estate attorney is not beholden to any party that receives a commission on a sale. Law Roth asks tough questions, negotiates the best outcome for clients, and makes the purchase of a new home transactionally seamless and legally sound.
We recommend not signing any papers until you have a lawyer to avoid being legally bound. If papers were signed, we can review all of them and go over the terms and conditions to which you are bound.
By the time most people contact us, they have selected property and considered the price, taxes, neighborhood, age, type and style of building, school system, and other costs. A professional inspected the property and went over the water supply and sewage disposal system and limitations.
We review these areas with clients to be sure questions were answered thoroughly and transparently.
Contract of Sale Review
The Real Estate Sales Agreement or Contract is the basis of the entire transaction. If you are working with a real estate salesperson, they will prepare a contract and ask you to sign it as your offer to purchase. It is required by law to contain an Attorney Review clause allowing it to be canceled by us if after review you are not satisfied with what it provides.
If there is not a broker or salesperson, by custom, it is usually prepared by the attorney for the seller, at the seller's cost. It is prepared based on the seller's understandings of your agreement. It is prepared from his viewpoint. It must be reviewed to be sure that it does not omit terms important to you.
As we review the contract, we determine whether or not it provides that you receive the title that will allow the use of the property as you anticipate.
Once the contract is signed, and all conditions have been met, we prepare you for closing. County, municipal, and upper court searches are ordered, received, and reviewed.
Appropriate title insurance binders are secured and reviewed. If the title is found not to be in accordance with the contract, extra work of dealing with title problems is encountered. The title is either cleared, or you are advised of unsolvable problems.
The requirements of your mortgage institution are determined and met. Your surveyor is advised of certification requirements of your mortgage company and title company.
As we approach the closing date called for by the contract, we obtain and review advance copies of the proposed Deed and Affidavit of Title from cooperative attorneys for the seller.
We communicate with the seller's attorney to calculate adjustments for real estate taxes, municipal assessments, fuel charges, etc.
We prepare the Note, Mortgage, your Mortgage Affidavit of Title, Mortgage Closing Statement, and other required documents in accord with the lending institution's instructions, or review the documents provided by the lender for your signature.
We communicate with you to make final arrangements to schedule the closing and to review the form and amount of funds needed to complete the transaction.
At the actual closing, we ensure that figures are correct, the liens on the property are paid, and that documents are properly signed and recorded.
Finally, after the closing, we see to it that you receive your Deed and your Title Policy after all else is accomplished.
PURCHASE OR SALE OF A HOME
Learn how important the contract is when buying or selling a house. Be sure to contact a lawyer early in the process.
SCHEDULING A HOUSE CLOSING
Learn why it is best to close before change of occupancy, and how to work with a lawyer and broker on the timing.
Contact Lee B. Roth
Form of Your Money at Closing
The contract will normally provide that closing funds be by a bank or certified check or wire transfer. We will have the mortgage funds available in satisfactory form.
We suggest that the balance of funds required be in the form of a bank or certified check payable directly to you if you will be at the closing, or to our office. Adjustments or remaining balances of less than $100 are usually acceptable in he form of a personal check.
Your Closing Costs
You may estimate the costs of purchasing your home by adding our fee, which we will estimate for you at our first conference, a one-time charge for title insurance, disbursements for searches and recording of documents which we will estimate for you, the first year premium on your homeowner's insurance, the cost of your survey if you have one made (perhaps we can save this cost for you if the seller has a recent survey in satisfactory form or if the mortgage company does not require one), and any bank fees, escrows, etc. that your lending institution requires.