Buying or selling a home isn’t always as straightforward as it seems. There are a number of laws responsible for regulating real estate transactions, and they vary nationwide. In fact, some states require a licensed real estate attorney to conduct the closing of your home sale. Even if you don’t need an attorney, there are a number of complex scenarios in which agents often recommend hiring an attorney. If you’re selling on behalf of a deceased relative, for instance, or if you’re purchasing a property from out of state, you may encounter certain roadblocks come closing time. Whether your situation warrants an attorney’s assistance or your state mandates it, you won’t want to miss a beat when it comes to the biggest transaction of your life. That’s why we’ve done the research and consulted the advice of a top real estate agent in an attorney closing state to help you prepare. In many ways, real estate attorneys serve as fact-checkers. Agents can often defer to an attorney’s better judgment concerning everything from initial contracts to the breakdown of final closing costs. “Most of them do more than just push the paper and say, ‘Sign here. Sign there,’” says Teresa Cowart, a top real estate agent with 18 years of experience selling homes in Georgia, a state that requires an attorney at closing. According to Cowart, the attorney’s primary job is to review, and sometimes draft, the title and contracts and to facilitate the closing process; in states where an attorney’s participation is not mandated, title companies typically conduct these steps. Before transferring the property title, attorneys evaluate public records on a property’s history, to uncover any potential liens or other issues that might negatively impact the title for the new owner. Unexpected closing roadblocks, such as a lien on the title or a disclosure issue, happen to 14% of contracts, according to the National Association of Realtors, and in 6% of home sales, the buyers or sellers terminated the contract altogether. Fortunately, attorneys can identify and address these complications during the closing procedure. Attorneys can also act as a mediator between buyers and sellers in a contract dispute. The attorney can look back on the sale documents and provide both parties with an unbiased, legal perspective. “I call the attorneys that we work with on a regular basis when I have a buyer or seller in dispute over something, and I need some clarification on the actual contract,” says Cowart. “Sometimes they’re the voice of reason.” While both agents and attorneys understand the real estate industry well, they possess a different set of credentials. Should you encounter any hiccups in your home sale, agents are not licensed to provide legal advice; in fact, doing so would mean breaking the law. In these circumstances, an agent can rely on the attorney’s expertise to help fill in gaps. Thanks to their experience and education, real estate attorneys can provide some peace of mind for all parties involved. They help protect clients from legal disputes and streamline the closing process for a smooth sale. “I think it does give the consumer a feeling of security to know that an attorney has looked over everything,” Cowart adds. “The more eyes on it, the better.”A real estate attorney’s complex role at closing
Draft and review closing documents
Transfer property title
Resolve legal barriers
Mediate contract disputes
Support your agent with the legal aspects of closing
Provide peace of mind to all parties
