What is the role of the real estate attorney in a residential transaction?
The attorney in a residential real estate transaction must work closely
with the realtor in order to best serve the client. While realtors can
advise based on the market and experience, the attorney is tasked with
assisting sellers and buyers in reading, analysis, and comprehension of
real estate agreements to make sure their legal and other property interests
are adequately protected under the terms of such contracts. The work of
the attorney also consists of resolving any liens or titles issues running
with the property and working in the months or weeks prior to closing
to make sure that all closing documents are completed and appear in proper
form. Additionally, one of the more important roles on a Connecticut real
estate attorney is in the representation of a buyer in applying for and
securing financing. Under the new federal regulations, the role of the
real estate attorney has never been more important when representing a
borrower in a residential mortgage transaction.
It is common for a potential buyer or seller to not fully understand the
roles of their real estate professions when trying to buy or sell a home,
but as mentioned above, there is no better result than when the dynamic
works as a team!
If you or someone you know is in the market for a new home and may have
questions or needs, we can be reached at (203) 651-5521.