What Lawyers Will Do For Sellers

What Lawyers Do for Sellers

When selling a property, having a lawyer involved ensures that your legal rights are protected and that the sale is completed without complications. Here’s what a real estate lawyer does for sellers:

Reviewing the Agreement of Purchase and Sale

Your lawyer will review the Agreement of Purchase and Sale (APS) to confirm that the terms, such as the purchase price, closing date, and any conditions, are favorable and accurate. They’ll ensure that all obligations are clearly stated and that no details have been overlooked.

Addressing Title Issues

Before the sale can go through, your lawyer will ensure that the title to your property is clear. This involves resolving any outstanding legal issues, such as liens or unpaid property taxes, that could affect the sale.

Handling Legal Documents

Your lawyer will prepare and finalize the necessary legal documents, including the deed of transfer and any statements of adjustments that outline the final financial figures, such as outstanding property taxes or prepaid utilities. They ensure all legal paperwork is completed accurately and submitted on time.

Managing the Transfer of Funds

After the sale, your lawyer will oversee the transfer of funds from the buyer’s lawyer, ensuring that all proceeds from the sale are handled securely. They’ll also make sure any outstanding mortgages or lines of credit against the property are paid off.

Closing the Sale

On closing day, your lawyer will ensure that all required documents are signed, and the property’s title is officially transferred to the buyer. They’ll also arrange for the handover of keys and confirm the final distribution of sale proceeds.

A lawyer is an essential part of the selling process, ensuring everything runs smoothly, and you can sell your property with confidence and peace of mind.