Protecting Your Assets During A Real Estate Closing
Whether you are the buyer or the seller, your real estate closing is the moment you’ve been waiting for. It’s the day you get a large sum of money from the sale of your property, or you finally get the keys to your new home! With a significant asset on the line, it is crucial that the closing process – and the steps leading up to it – are properly completed.
Many residential and commercial real estate closings go through without a hitch. However, it is always prudent to have a real estate closing attorney with you to ensure the closing runs as smoothly as possible. At Hobaica Law Office, you can trust our real estate closing lawyers to lay the groundwork to make your closing day as easy as possible for you.
What Happens At The Closing For A Residential Property Sale In New York State?
The real estate closing is where the title is going to be exchanged and one person is going to sell the property and the other person is going to buy it. By the time you get to the closing, 99% of the work has already been done.
However, there are still several critical steps that need to be completed as part of the real estate closing process, including:
- Signing the contract
- Transferring the funds
- Checking the property title
- Reviewing the real estate closing documents
- And more…
Each part of the closing process can involve specific details that can be easy to overlook. This is one advantage of having a closing attorney with you – they can ensure everything is taken care of before you even get to closing.
What Can My Real Estate Attorney Do To Ensure Closing Goes Smoothly?
The best thing you can expect from your real estate attorney is that they have done the work necessary to make sure that there are no last-minute issues to dampen your closing day. There are many ways that a closing attorney can provide assistance before and during the real estate closing.
First, your real estate closing lawyer can set you up for success by helping you understand what to expect during the closing process. For example, they can notify you of which real estate closing documents you will need to bring on closing day and ensure all paperwork is prepared in advance.
No matter if you are the buyer or selling, your mortgage closing lawyer will be able to help you understand the terms of the contract. What’s more, your attorney can inform you about the expected closing costs, which can be high in New York.
If you are selling a property, your real estate attorney should advise you how much money you should expect to receive. If you are buying the property, your real estate attorney should advise you on how much money you will actually be paying after credits and debits have been calculated.
Your real estate closing attorney will check the title of your property for any issues beforehand, and help you figure out how to resolve any title issues that arise. At closing, you will be assured that the title is clear because your mortgage closing lawyer will have already examined it.
With the right real estate attorney, you will go to your closing knowing what to expect with confidence. It should be a celebratory occasion where you receive the keys to your new home, the clicker to your garage, and other little details that will signify that you are a new homeowner.
Reach Out To An Experienced Real Estate Closing Lawyer Today
Whether you are attending a residential or commercial real estate closing, your closing experience should be exciting. You should be able to focus on celebrating the event, and not worrying about whether the sale or purchase will go through, or whether any mistakes have been made.
With an experienced mortgage closing lawyer from Hobaica Law Office by your side, you can rest assured that your assets and best interests are being protected. From your initial offer to closing day, our real estate closing lawyers will work with you to ensure that every box is checked and every detail is considered.
For more information about real estate law in New York or working with a closing attorney, schedule your free initial consultation with our firm. You can reach our Utica, NY, location at (315) 627-2800 and our Cooperstown, NY, location at (607) 601-1621.