Why Do I Need a Real Estate Attorney

An attorney will protect your interests and help you resolve any potential legal problems before entering a legally binding contract. South Carolina has just enacted new disclosure requirements that you as a seller need to complete. The buyer also needs to understand his rights and limitaions under this new law. Neither of you really want to end up in a court battle at a later date.

Sometimes buyers feel the need to sign a contract quickly and don’t have time to initially consult an attorney. In these cases, buyers can include language in the contract that will allow their attorney time to give final approval on the agreement usually within three to five business days. This allows both buyers and sellers to expedite the contract process without fear of inadequate legal representation.

Throughout the process, the attorneys will attend to a variety of responsibilities, including consultation prior to the signing of the contract, preparing or approving the contract, examining documents and supervising the closing of the transaction.

The real estate attorney will be responsible for preparing or evaluating documents which may be necessary for completing transfer of the property. There are usually several documents to prepare in any real estate transaction, and the attorney can evaluate and explain each document to the buyer or seller whom he or she represents. The deed, the bill of sale, mortgage, promissory note, title commitment and the closing statement are only a few of the important documents that an attorney should review with the seller or buyer prior to the closing.

One of the attorney’s most important responsibilities in the real estate transaction is to determine the condition of the seller’s title to the property. Through this process, the attorney will discover if the seller is the legal owner of the property and if there is an unpaid mortgage or lien which must be settled before the title to the property can be properly transferred. The attorney will also discover any restrictions or easements which are on the property and the status of any unpaid property taxes or assessments.

The buyer, the seller and their attorneys usually appear together at a final meeting to review all the documents. At this meeting, usually referred to as the closing, the attorneys help explain, sign and exchange the documents and approve or clear up any remaining financial matters relating to the transaction. After the transaction is closed, the real estate attorney will attend to any final details such as properly recording the deed, mortgage or other necessary documents and issuing title insurance policies.

The attorney’s duty in any real estate transaction is to provide legal expertise. Through sound advice and thorough execution of all legal responsibilities, a good attorney will help you complete your transaction swiftly and with confidence.

The American Bar Association says: "Americans have come to view legal assistance as a necessity. The best way for the majority of Americans to be able to assure themselves of legal assistance when they need it... is through a prepaid legal plan." The best way to find a good real estate attorney is through a membership in Pre-Paid Legal Services. Carolyn and I have used their services and are also representatives.

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