Real Estate Closings, Titles, & Title Insurance
Buying or selling a home is a significant transaction. For many people, their home is one of their biggest investments.
When you buy or sell a home, there are many players involved-real estate agents, banks, inspectors and others. Getting quality representation is very important in protecting your investment. Some of the things that an attorney can advise you on include the options offered under this header in the side navigation bar.
You can't turn on the news without hearing about the falling real estate market and the rise in foreclosures. Many foreclosures are being suffered by homeowners who did not get good advice when they purchased their homes. Buying or selling a house can be confusing. There is a lot at stake.
At Farrell, Leslie & Grochowski we will guide you through the process and protect your legal rights while making sure that you are comfortable through the whole transaction. Its really important to have an attorney guide you. Although some banks will close a loan with a notary, it is very unwise for a borrower to not have the advice of an attorney.
Fears about the economy have made people more cautious about purchasing homes. While caution is always advisable, there remain good opportunities for buyers. Housing prices have come down and interest rates remain low.
Unfortunately due to lower housing prices and the prevalence of 100% financing in recent years, many people have found themselves in difficulty financial situations and possibly facing foreclosure. At Farrell & Grochowski we are familiar with negotiating with banks and arranging short sales-a sale of the house to a third party with a payment to the bank of less than the full mortgage amount due.
The attorney will arrange with the other parties and the bank as to the closing date. At the closing, the attorney will explain all the mortgage papers, deeds, and figures to the client. If you are a seller, any mortgages that are on the property will be paid off through the closing. If you are buying, the attorney will record your deed to the property on the land records ensuring your ownership.