Is it better to talk to your real estate lawyer than to a title company with regards to the matter of selling your house? You can choose whichever you like but, you need to know first what is the difference between a title company and a real estate lawyer. 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 specialize in laws that are connected to real estate and make sure that your best 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. These lawyers will also be there to help you to thoroughly understand the legalities involved into the transaction, offer made by buyers and also, the rights you have as seller.
Aside from that, real estate lawyers are taking care of the closing if ever the lender’s attorney does not do that. Real estate attorneys have 2 very important duties to their clients; one is to provide representation at closing and two, advise the documentation process for the 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. Another integral aspect that real estate lawyers do is preparing the seller’s deed. The lawyer you’ve hired accompanies you too on 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.
When it comes to title companies on the other hand, these are more like insurance agents that are representing title insurance companies. These companies are insuring titles to the lenders and the buyers by making sure that the title is free from encumbrance which may possibly result to financial loss. The buyer can also have assurance that they will be able to have their property title without liens against it. The availability of the title on a specific property is clear and at the same time, vouched for by the company as well. Throughout the process, the firm will be protecting the interests and the rights of both sides in question.
Oftentimes, many title companies insure closing with the help of a lawyer to fulfill some requirements. Like real estate lawyers, title companies can be seen taking care of down payment and close property without additional charges.