The Real Estate Transaction, Part III: Closing and Beyond

Part I of this short series on real estate transactions covered the property title. Part II looked at title insurance. Both set the stage for a smooth closing, which is how this real estate series wraps up.

Wynn at Law, LLC takes on five roles for the client – homebuyer or seller – during the closing and beyond. If this production was a movie, Wynn at Law, LLC is the…

Director

The real estate attorney directs communication between all parties in the closing. Realtors, lenders, title companies, sellers, and buyers all follow the lawyers’ lead. There are other cast members involved, too, that aren’t even at the closing table. Contractors and inspectors are two examples. The attorney makes sure their work has been completed in good faith before it’s time for the signatures.

Editor

On the day of closing the attorney is present to review the various instruments associated with the real estate, such as the deed and loan documents, such as the mortgage. In actuality, Wynn at Law, LLC makes sure all documents are accurate days beforehand, if possible. If dates, disbursements, or other details need editing, the details are edited by the attorney and reviewed by all parties before the deed is signed and recorded.

Narrator

If there are any questions at the closing table, the attorney explains documents such as the deed, promissory note, or a closing/settlement statement.

Distributor

While the attorney doesn’t actually handle the checks, money isn’t distributed until the attorney approves of the distribution.

And finally, Wynn at Law, LLC is Public Relations for this ‘movie.’ No production becomes a hit without Public Relations. To us, that means making sure our client is happy, secure, and legally sound after the sale. We want to be on your team for your next real estate transaction, too, whether it’s months or years down the road. Let’s say a new neighbor wants to get in your business about the property line or the HOA suddenly changes bylaws. Your real estate attorney swings in action beyond the closing to protect you and your property.

 

image by Jakub Gojda, used with permission.

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