The value of attorney representation

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Michelle Gillespie, Realtor, Berkshire Hathaway HomeServices

Michelle Gillespie, Realtor Leading Edge Agent Direct Line: 508-934-9818 michelle@michellegillespie.com www.michellegillespie.com Berkshire Hathaway HomeServices N.E. Prime Properties Independently owned and operated.
Michelle Gillespie, Realtor
Presidents Circle
Direct Line: 508-934-9818 [email protected]
www.michellegillespie.com
Berkshire Hathaway HomeServices N.E. Prime Properties
Independently owned and operated.

Summer is a busy season in the real estate market. Many people who have been thinking about buying or selling a home are ready to take action. If you are thinking about making that move, whether as a buyer or seller, as your Realtor, I can provide access to a network of professionals who can help you with every step. Here, we’ll discuss one key professional: the real estate attorney.

 

Who are the attorneys?

In most real estate trans­actions, three different attorneys will be involved: the buyer’s attorney, the seller’s attorney, and the bank’s attorney. Each has a specific role to play, and each represents his or her own client’s interests.

 

The buyer’s attorney

The buyer’s attorney is a trust advisor who watches over your transaction, point­ing out potential problems and offering options to avoid problems. He or she will review and clearly explain the legal documents you will be signing, especially the purchase and sale agree­ment. The attorney can make changes to the agreement to protect your interests, and will review any changes requested by the seller.

Your attorney reviews the title certification to ensure that the title is clear of any issues that would prevent a future sale of the property; and reviews the deed, to make sure all the information is correct and that you are taking title under the proper tenancy.

The attorney attends the closing (the day you sign all the mortgage documents and close the deal with the seller) and reviews and explains your rights and obligations in sign­ing these legal documents.

 

The Seller’s Attorney

The seller’s attorney pre­pares the deed and the pur­chase and sale agreement, which sets out the terms and obligations of the buyers and sellers in purchasing and selling the home. The seller’s attorney explains what your rights, duties and obligations are under these terms.

Your attorney can also go to the closing for you, sign the closing documents on your behalf, hold the pro­ceeds check until the deed is registered at the Registry of Deeds, and then turn the check over to you once all the transactions are complete.

 

Homes and More 160520 Gillespie_Information boxThe Bank’s Attorney

The bank’s attorney is responsible for having the title search conducted on the property, and then reviews the title report to make sure the seller has a clear, clean and marketable title. The bank’s attorney also gathers information from various sources to make sure the house actually sits on the lot of land being sold and that the real estate taxes have been paid by the seller.

The bank’s attorney also facilitates repayment of the seller’s mortgage, and pre­pares the loan documents for the buyer. At the closing, the bank’s attorney will explain the documents to the buyer before signing, and will re­view the deed with him or her.

 

The Final Word

Whether you are a buyer or a seller, it is in your best interest to hire an attorney who specializes in real estate transactions. Contact me if you would like more infor­mation about why you should hire an attorney, or about how I can facilitate the process of gaining legal representation.

Buyers and buyer’s agents, are looking for new, fresh inventory. What does this mean for you as a potential seller? With less inventory there is less com­petition for your property! Properly priced houses are selling quickly, so if you are thinking of selling your home, now’s the time.

If you want to sell your home this year and would like to discuss the best approach for a positive outcome, call me, Michelle Gillespie, at 508-934-9818 or email [email protected]. For more information visit my website, www.michellegillespie.com.

 

Michelle Gillespie, Realtor
Presidents Circle
Direct Line: 508-934-9818 [email protected]

www.michellegillespie.com
Berkshire Hathaway HomeServices N.E. Prime Properties
Independently owned and operated.

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