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Closing Attorneys: The Final Step in Asset Advocacy
Closing attorneys play a pivotal role in real estate transactions, ensuring the legal and administrative processes are executed smoothly and in accordance with the law. They act as impartial third parties, representing both the buyer and seller to facilitate a seamless closing process.
Legal and Administrative Tasks Performed by Closing Attorneys
Closing attorneys are responsible for:
- Reviewing and drafting legal documents, including purchase agreements, deeds, and mortgages
- Conducting title searches to ensure the property has a clear title and is free from liens or encumbrances
- Obtaining title insurance to protect clients against potential title defects
- Calculating and collecting closing costs, including fees for title insurance, lender fees, and recording fees
- Disbursing funds to the appropriate parties, such as the seller, lender, and real estate agents
