There have been debates to whom should be hired when selling a house, a real estate lawyer or a title company. You can choose any of the two however, you have to learn first the difference between title companies and real estate lawyers. For this reason, it will be a good idea to read the next lines to find out which service is best to get.
Real estate lawyers specialize in laws that are connected to real estate and make sure that your best interests are met. Legal representatives might act as an escrow agent because it is them whom you should be talking to in making helping you for the requisite documentation, earnest money and holding your down payments. Such lawyers are there to help you understand thoroughly the legalities that are involved in the transaction, the offers made by the homebuyer and your rights as seller.
And if ever the attorney of the lender didn’t do the closing, it is your real estate lawyer who’ll take care of it as well. Keep in mind that all real estate attorneys have 2 major responsibilities and this is to represent clients at the closing and advise the documentation process for the entire transaction.
Aside from these services, the lawyer can be seen negotiating for modifications in the contract purchase that the seller likes to incorporate. Another vital aspect of real estate lawyers is to prepare the seller’s deed. The lawyer you’ve hired accompanies you too on meeting the buyer/client at time of settlement. It is him or her who will be advising on the involved tax implications in your 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 insure the titles to the lender and buyers as well by ensuring that the title is free from encumbrance which might possibly lead to financial loss. Title company ensures that the buyer too that they’re going to get their title on property or house 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.
In most instances, several title companies insure the closing by considering the help of a lawyer. Title companies can take care as well of the down payment and close the property without any additional costs; they can even offer discounts on title insurance if you have had used their services before like for buying or refinancing your property.