Like most people, your home purchase will probably be the biggest investment you will ever make. This is a high stakes transaction due to the amount of finances involved. You therefore need to ensure that your interests are protected throughout the entire process.
You may already have a real estate agent, but a real estate attorney is also vital, as explained in the following post:
When people go about making a real estate purchase, they often turn to real estate agents, realtors, and appraisers for guidance. While these professionals are certainly experts in their field, the truth is that most do not know the fine and varied details of real estate law. If a transaction hits a legal snag, the buyer can be at a total loss of how to protect their own interests and finances.
Recently, many people in the market for a new home or commercial property are retaining the services of a real estate attorney upfront. After all, buying a piece of real estate will most likely be the largest transaction in their entire lives, so it should be taken seriously and carefully. Read more at Collins Legal…
Your real estate attorney will go through every document to ensure that all important details have been captured.
Your attorney also plays a critical role in a title search, as detailed in the following post:
A title search is the process of examining official county records to verify the seller is the legal owner of the property and there are no encumbrances affecting the title. Once the title search is completed, a preliminary title report will be generated with the findings. Most title reports prepared by attorneys will provide you with information such as the description of the property; history of the property’s ownership; any liens, mortgages or overdue taxes that exist; rights of way, easements, restrictions or reservations; as well as other information that may be helpful before purchasing the property. Read more at Bordas Law…
You will also need your attorney to conduct a title search if you are selling property. This is so that you can make all the relevant disclosures to the buyer, as this is a requirement by law.
There is a possibility that even after a thorough title search by your attorney, some details about the property may still remain hidden. Title insurance will therefore safeguard you in case complications related to the property come up, as explained in the following post:
Title insurance is an indemnity contract that will reimburse you for a loss in the event someone asserts a claim against the property that is covered by the policy.
It’s important because a title company will make sure that the title to the real estate is legitimate, and will issue title insurance for the property being purchased in the IRA.
How can there be a title defect if the title has been cleared by the title company?
Title insurance is issued after a careful examination of public records. But even the most thorough search cannot absolutely assure there are no title hazards. In addition to matters shown by public records, other title problems may exist that cannot be disclosed in a search. Read more at IRA Resources…
Title insurance will ensure that once you have received the key to your new home, you are protected against any surprise claims that someone else owns the property.
If you are looking for a real estate attorney to walk you through your property transaction in the Charlotte metro region in North Carolina or South Carolina, Meek Law Firm South is here for you. Call us today at (704) 800-5901 and we will be happy to assist you. You can also learn more about us and our home closing services by visiting our website.