Is it better to talk to your real estate lawyer than to a title company with regards to the matter of selling your house? Well basically, the choice is all yours to make however, it is imperative that you figure out first the differences that real estate lawyers and title companies have. For that matter, the following can help you learn more about the two and on which services you are going to benefit more.
Real estate lawyers are specializing in laws that are in relation to real estate and ensure that your interests are met. It is actually your lawyer who can work as escrow agent since they’re holding your payments, earnest money and assisting you as well with requisite documentation. Not only that, it is your lawyer who will clarify to you the involved legalities of the transaction, how the buyer’s offer will affect you and what your rights are as seller.
Aside from that, real estate lawyers are taking care of the closing if ever the lender’s attorney does not do that. Keep in mind that all real estate attorneys have 2 major responsibilities and this is to represent clients at the closing and advise the documentation process for the entire transaction.
Not only that these services are provided by the lawyer, you’ll see them as well negotiating for modifications in contract purchase that seller wants to incorporate. Preparing the seller’s deed is yet another important role that real estate lawyers fulfill. It is your lawyer as well who’ll be accompanying you in meeting the buyer/client at time of settlement. It’s him or her who is going to give sound advice on involved tax implications in the property sale or home sale.
Now when talking about title companies, they are more of an insurance agent that represent title insurance companies. It is these companies as well that insure the titles both to the lender as well as seller by guaranteeing that the title is free from any encumbrances that can soon lead to financial loss. Title company guarantees the buyer as well that they will get their title on the property or home without liens against it. The title’s availability on a particular property or house is made clear and is vouched for by the company. The firm protects the rights and the interests of both parties throughout the process.
Oftentimes, many title companies insure closing with the help of a lawyer to fulfill some requirements. Title companies are able to take care of the down payment and also close the property without added cost and there’s a chance that they can provide discounts on the title insurance if you’d used their services before either in refinancing or buying your property.