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Reasons You Need a Real Estate Lawyer     Real Estate Opportunity
Contract Negotiation:  A lawyer makes sure that the terms in the contract are favorable to the Buyer.  A lawyer is an expert in understanding contracts, and how the various parts of contracts relate to each other.  The lawyer can explain the contract to the Buyer in understandable terms, and can suggest changes to the contract.  The standard form contract provides several blanks (for maximum acceptable interest rate, points, monthly payment, etc.) that the Buyer often feels he or she must fill in.  The Buyer’s lawyer, on the other hand, may suggest replacing certain terms or add contract provisions that apply to the Buyer’s particular circumstances.  

Earnest Money Protection:  A lawyer protects the Buyer’s earnest money by providing opportunities for the Buyer to get out of the deal without penalty prior to closing.

Solves Problems that Occur between Buyer and Seller Prior to Closing:  The lawyer is there for the Buyer to assist in the resolution of problems that occur between contract execution and the closing.

Title Commitment Examination:  A lawyer reviews the Seller’s title commitment prior to closing, to ensure that the Buyer receives “good title” to the property.

Assist Buyer with Lending Issues:  A lawyer can help facilitate the mortgage commitment process, working in concert with your lender,

 
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mortgage broker, and other financial professionals.

Closing Statement Review:  A lawyer reviews the Seller’s closing statement prior to closing, to confirm that the Buyer credits are accurate.

Mortgage Document Review:  At closing, the lawyer examines all of the lender’s documents to confirm that the terms are consistent with the mortgage commitment.  Further, the lawyer explains the legal ramifications of all the documents that the lender has prepared for the Buyer’s signature.

Seller Document Review:  At closing, the lawyer reviews all documents prepared by Seller’s Attorney, which include, the deed, bill of sale, and transfer declarations, to ensure that title is conveyed to Buyer at closing.  Further, the lawyer explains the Seller prepared documents to the Buyer.

Survey Review:  The lawyer reviews the seller’s survey to confirm that there are no encroachment problems.

Performs Second Review of Title Commitment:  At closing, the lawyer confirms that the title company has waived any of the problems that appeared during the initial title examination, and verifies that any remaining easements are justified.

Attorney Durman Z. Jackson, III

durmanjackson@ameritech.net

(773) 255-0309