Do I need a Real Estate Lawyer to buy a house?

Do I need a Real Estate Lawyer to buy a house?

The Closing Process: what does a Real Estate Lawyer do?


A Real Estate Lawyer acts as a facilitator, a coordinator to ensure that all the parties of the home sale are prepared for the closing. The attorney will coordinate the issuance of title insurance, hold the funds in an escrow account, prepare and deliver documents that need to be signed at closing, explain the documents, and ensure the closing is properly performed.

Title Insurance

Title insurance is a form of title protection, which essentially offers more protection for buyers. This policy requires that the insurer to compensate the insured for any losses that are a result of the title defects.

This insurance is routinely required by institutional lenders and banks, which results in buyers protecting their own title to the property they are purchasing. The premium for the insurance is only paid once, at the closing of the property, and provides coverage for any future losses or events that are created by some past event.

Title Examination

A search of the public records will be completed to find any documents that may affect the property. These documents are examined to determine what rights or claims any third party may have against the property. These include tax liens, unsatisfied mortgages, leases, foreclosure actions, judgments, etc.

Review and Explain Documents

Generally, when closing occurs, there are really two closings that are occurring. The first closing is the transfer of title from the seller to the buyer, this is the deed transfer. Then the next closing that occurs is the mortgage loan. However, with these two closings, other paperwork will be present. A title insurance policy, a monthly payment letter, a HUD-1 statement, and a mortgage loan note will be other documents involved. A real estate lawyer will be very familiar with these documents and will explain to them as the closing occurs.

Record and Disburse

The final step in the process of a closing is the record and disburse stage. During this step, after all the documents are signed by the parties, the lender has sent and the buyer has received the monies, then authorization to record takes place. The appropriate documents are then sent to the courthouse to be recorded. Once this is completed, the funds will be disbursed to the parties.

How long does a closing take?

The entire process starts when the buyer has a signed purchase agreement and can take anywhere from four to six weeks. Your real estate lawyer will guide you through every step of the way and make sure you are compliant with the law.

Find an Experienced Real Estate Lawyer 

If you are interested in purchasing a home, contact our offices to speak with an experienced, knowledgeable real estate attorney. Additionally, a real estate attorney can offer recommendations for a title insurance company. Call us today if you have questions, (772) 589-5500.