The purchase of a home is probably the most significant and largest transactions people make in their lives. It also involves the real estate law, which is unique and brings particular issues of practice, and problems not present in other transactions. A qualified real estate attorney is trained to handle these issues and has the required experience to solve them correctly. The lawyer can guide their client through the paperwork, ensuring that they are complying with state law every step of the way. The real estate lawyer will also work closely with the title or Settlement Company and the seller’s attorney to make sure the transaction proceeds smoothly. Here are the key roles of a Real Estate Lawyer in Beaver Dam WI in a real estate transaction.
Purchase and Sale Agreement
To avoid potential complications, it is vital that both the buyer and seller enlist the services of a real estate lawyer before signing the Purchase and Sale Contract. This legally binding document has significant ramifications on transactions and penalties for not following the terms of the contract. Thus, it should be carefully reviewed with the assistance of an attorney.
Title Search and Title Insurance
An experienced buyer’s real estate lawyer will conduct a title search of the property to determine whether the seller has marketable title to the property. The title search will also reveal any restrictions, encumbrances, easements, rights of way and any other conditions or matters that may affect the property. If the buyer obtains a mortgage as part of the purchase, the lender will require them to buy title insurance policy and owner’s insurance which insures the buyer’s interest in the property.
The Closing
It is the final financial transaction. The seller, the buyer, their respective attorneys and attorney for the mortgage holder meet to finalize and execute the closing documents. These documents include discharges of mortgage, the deed, mortgage plot plan among others.
An experienced Real Estate Lawyer in Beaver Dam WI is committed to ensuring their client is informed and protected through the transaction. For additional information on the duties of real estate attorneys, and how to hire their services, please visit the website
