There are a lot of questions when buying or selling a property. The first are, "do I this house?", "can I afford this property?, "what should I sell my house for?", and many more. After you get through those decisions, you can then sell or close on a house. This is where the next step comes in, choosing your lawyer in CT.
What a Connecticut real estate attorney does.
A CT real estate attorney is a large piece in the puzzle of buying a home, selling a home or another property. To give you an idea of what a real estate lawyer is needed for, here's some info.
Real estate attorney in CT for buying a home.
When buying a home, your real estate attorney in Connecticut should:
- Title search of the property - A real estate attorney does a title search on the property to ensure that the seller has the legal right to sell the property, and that there are no other encumbrances (such as liens, mortgages etc.) or property line issues that could prevent the buyer from taking full possession.
- Prepare your closing documents - Before closing on a mortgage you can expect to receive federally mandated documents and contractual documents. A real estate lawyer in CT should help you go over these documents.
- Loan Settlement - Document prepared by a lending institution and presented to the borrower at the loan-closing time, showing the amount and frequency of the installments for the loan repayment
- Communicate with your Realtor, sellers' attorney, mortgage broker (if applicable), lender and other third parties to coordinate the closing on your new home
- Review your mortgage loan documentation generated by your Lender
- Explain loan documentation
- Represent you and your lender at the closing
Real estate attorney in CT for selling a home.
When selling a home your real estate attorney in CT should:
- Determine mortgage payoff amounts - Your payoff amount is how much you will actually have to pay to satisfy the terms of your mortgage loan and pay off your debt.
- Draw the appropriate deed of conveyance - A deed of conveyance is a signed legal document that shows a title or deed has been transferred. It is used to prove ownership in a piece of property.
- Calculating all required conveyance taxes - Conveyance tax is a tax imposed on the transfer of real property, at the state, county or municipal level.
- Review of the buyers' attorney's title examination. - Title examination is a close examination of all CT public records that affect the title to the real estate you are purchasing.
- Preparation of closing documentation
- Ensure proper execution of all sellers documents
- Represent you at closing
- Securing releases of mortgages on the property