By Lawrence M. Centanni, Esq.
Purchasing and selling real estate, whether residential or commercial, can be one of the most exciting events in life, but it can also be incredibly stressful. When it comes to buying real estate, the closing is the final step in the sale or purchase process. Closings can be complicated, especially for those new to real estate, leading to undue stress. This is why it’s imperative to hire an experienced real estate attorney such as the Law Office of Lawrence M. Centanni can be helpful.
By hiring a good real estate attorney, sellers and buyers alike can alleviate the stress of a closing. A licensed real estate attorney can ensure a smooth, efficient closing by reviewing final documents, settling lingering issues regarding the transaction, and saving time.
Legal Knowledge
First and foremost, one reason for hiring an experienced real estate attorney is their knowledge of real estate law. Real estate attorneys are licensed in each state, demonstrating they have an understanding of real estate law in their area.
Real estate laws can vary from state to state. A local, seasoned real estate attorney will be able to easily and efficiently navigate a closing as they are familiar with the legal aspects of real estate transactions within the State of New Jersey.
There are many moving parts to a closing and a real estate attorney can handle the tasks involved such as:
- Preparing closing documents.
- Conducting a title search to identify liens, easements, or other issues with a property’s chain of title.
- Obtain title insurance.
- Gather additional information such as inspection reports, home warranty information, and homeowner’s association (HOA) dues.
- Coordinate the closing date.
- Review final closing documents.
- Distribute funds at the end of a transaction.
Avoid Closing Obstacles
There are potential pitfalls and issues that may arise during the closing process. With proper representation, these can be avoided as real estate attorneys can review the contract and other closing documents to ensure everything is in order.
Should an obstacle arise, the real estate attorney can address any problems before they bring a sale or purchase to a dead stop. This is important as time is often money, as it has been said, and having a real estate attorney present to handle any problems that may surface can save you time and frustration.
Negotiating Power
Should a problem arise, a skillful real estate attorney is practiced in the art of negotiation. Disputes and last-minute issues can arise during a closing. A real estate attorney will be able to represent your interests and advocate on your behalf in a professional manner to achieve the best possible outcome.
Having the right negotiating power can be especially important if time is a factor for the transaction, which is often the case in commercial real estate transactions. It also gives one an extra edge in competitive real estate markets, like the one we are currently experiencing, where buyers and sellers are all vying to get the best deal ahead of someone else.
Peace of Mind
Another reason for hiring a real estate attorney to assist with the closing is peace of mind. A solid real estate attorney will be able to:
- Answer your real estate and closing questions.
- Clarify guidelines and terms present in the purchase agreement.
- Guide you through legal terms and real estate jargon.
- Catch errors or issues in documents you might have overlooked.
- Address any lingering concerns.
- Help you to better understand the legal aspects of the closing.
- Protect your financial interests.
There are many benefits to securing an experienced real estate attorney to support the closing of your real estate transaction. Their knowledge, understanding of the law, and expertise are well worth the expense to ensure your closing goes smoothing and efficiently, saving you time, money, and worry. Such peace of mind is invaluable as it provides you with more confidence so you can stress less and enjoy the transaction more.
Questions to Ask
When interviewing potential real estate attorneys, ask about their experience in residential and commercial real estate transactions. Question their familiarity with the laws and regulations governing real estate dealings in New Jersey or the state in which you are buying or selling.
A closing attorney can be a game changer when it comes to real estate transactions. An experienced real estate attorney will be able to answer questions with ease, provide valuable guidance and advice, and give you peace of mind as you navigate the closing of your purchase or sale.
If you are selling or buying property in New Jersey and you’re looking for an experienced attorney to facilitate your closing, visit the Law Office of Lawrence M. Centanni online or call (908) 351-0028 now. The call is free and there is no obligation.
