It would be nice if all it took to buy a house was signing a contract and handing over a check. Unfortunately, even buying a car does not happen that smoothly – and real estate is no different. There are so many small details that go into completing a property transaction that real estate lawyers in College Station Texas are indispensable as they can work for both a buyer and a seller at the same time. A real estate agent may be the primary contact person; however, behind every successful agency is an attorney who specializes in the handling of property transactions related to the sale of property.
Sale of Property Negotiations
A major concern when purchasing property is be sure of actually getting what the seller has represented, which makes real estate lawyers in College Station TX crucial to the negotiating process. They have access to all property information including: title and deed; past sales history; zoning and survey information; inspection results; information on the current mortgage; and other additional details. It is the attorney who reviews the terms of sale to ensure that all documentation is correct and advises when negotiations must be done to satisfy any problem that has arisen. As these smaller issues are handled one by one, a lawyer is the only person with the ability to correct and re-draft different documents to reflect actual property details at the time of sale.
It is also necessary for lawyers to document purchase offers, acceptance offers, and any changing details that occur during negotiations. Most of all, it is the lawyerâ€™s position to explain to both buyer and seller what all the documentation means and whether or not the buyer or seller must do anything before the negotiations can be completed, such as arrange for an inspection or make any repairs.
Transaction Adjustments and Agreements
When negotiations are concluded, necessary title and inspection reports have been received, financing options have been explained and chosen, any actions required to meet agreed-upon terms have been done, and an offer has been accepted, that is when a real estate lawyer in College Station will draft the final contract of sale. The entire transaction and all paperwork is reviewed again, a sales contract with any new requirements and resolutions is drafted, and the agreed-upon terms are included for both parties to sign.
Closing and Transfer of Ownership
Closing on the sale of property is the final step in a real estate transaction, the point at which all other work regarding the sale is confirmed and then finalized. A closing report, which is basically a summary of the details of the sale, is prepared by College Station real estate lawyers ahead of time, and then reviewed and read by the closing attorney or the title insurance closer in states where closings are performed by the title insurance company itself. Transfer of property ownership takes place once all of the contracts and paperwork associated with the sale are completed and signed.
Real estate lawyers also handle any litigation with problematic sales that end up in court as well as with property foreclosures and other legal proceedings associated with the buying or selling of any property. Real estate agents may be always on the go to keep a sale moving forward; however, it is often a law firm behind the scenes that actually handles the legal requirements. Real estate lawyers in College Station TX technically do not work for either buyer or seller; they are basically responsible for making sure that the final transaction is legally accurate and protects the rights and interests of both sides of the sale â€“ an important role in buying any home!
Hoelscher, Lipsey, Elmore & Poole â€“ Real Estate Lawyers in College Station TX!
Looking for real estate lawyers in College Station? Call (979) 846-4726 and let the law firm of Hoelscher, Lipsey, Elmore & Poole help you purchase your dream home!