When a buyer purchases a home, they take on the full responsibility and requirements that come along with the property. It is not a transaction anyone should approach unprotected, as such. Real estate closings are typically handled by title companies under the guidance of qualified professionals, but a buyer can benefit from using the services of a real estate law firm to make sure that the closing is handled correctly so that the sale can move forward smoothly.

Final Inspection Discoveries

One final step before closing is the inspection or walkthrough. During this step, you, the buyer, and your real estate agent walk the home to ensure its condition matches what was agreed upon. If you hired a third-party inspector, they will also perform a separate walk-through during this period.

Should there be damage discovered, or if it is a new build and there is an issue with the design specifications, an attorney will work on your behalf to ensure these issues are rectified before closing. 

Contract Breaches

When the buyer and seller agree to a contract, both parties must honor the commitment. When one party does not, the issue must be addressed. For example, consider a contract in which the seller agreed to leave behind the refrigerator and washing machine as part of the sale. However, during the final inspection, it is discovered that the appliances have been removed.

This seemingly minor issue is a violation of the contract and could terminate the sale of the home. An attorney would work to ensure the value of the appliances is deduced from the sale price or that the buyer is credited at closing for their value. 

Document Review

You will receive paperwork from the lender, including the closing disclosure, as you near closing. This document outlines the financial terms of the transaction, such as your total closing cost. Once you reach the closing table, you will then be presented with all the paperwork detailing the sale. 

As you may have imagined, these documents contain some hard-to-understand legal terms. If you have a real estate attorney, they can generally review the closing disclosure and the closing documents beforehand, to highlight any discrepancies and to have time to explain to you what everything means. That way, you can feel informed about all the closing details.

If you are purchasing a home, consider these benefits to ensure you understand how a real estate attorney can aid you. Make sure you are protected.