What Lawyers Will Do For Buyers

What Lawyers Do for Buyers

When purchasing a home, your lawyer plays a critical role in ensuring a smooth and legally sound transaction. Here's what a real estate lawyer does for buyers:

Title Search & Due Diligence

One of the lawyer's primary tasks is conducting a title search to ensure the property is free from any legal issues, such as liens, unpaid taxes, or disputes over ownership. This step is crucial to making sure you're purchasing a home without hidden legal problems.

Reviewing the Agreement of Purchase and Sale

Your lawyer will carefully review the Agreement of Purchase and Sale (APS) to ensure the terms are in your best interest and that there are no concerning clauses or conditions. They ensure that all necessary legal documentation is complete and accurate.

Managing Funds & Closing Costs

The lawyer will handle the transfer of funds, including your down payment and closing costs, ensuring the transaction is carried out properly. They will also calculate the land transfer tax and any adjustments for utilities, property taxes, or other outstanding balances.

Registering the Property

Once everything is in order, your lawyer will handle the registration of the property in your name. This includes ensuring that the title is transferred and officially recorded, making you the legal owner of the property.

Reviewing Title Insurance

Title insurance is often recommended to protect you against any title-related issues that may arise after the purchase. Your lawyer will explain the coverage and assist with purchasing the appropriate policy if needed.

Finalizing the Closing Process

On closing day, your lawyer will ensure all legal documents are signed and exchanged between the buyer and seller. They’ll also facilitate the exchange of keys, making the home officially yours.

A real estate lawyer is essential for protecting your interests and ensuring that the home-buying process is legally sound and hassle-free.