Importance of a Buyer’s Closing Attorney
Buying a home is, perhaps, the largest and most significant investment of your life. It also involves a unique set of property laws that can raise unexpected issues at closing. That’s why a buyer usually selects the attorney to handle the transaction.
We have a client who is an investor that fixes up and sells old homes. He didn’t quite trust the seller’s closing attorney, so he brought Origin Title on to review the title. As it turned out, the seller only got a deed from one heir while there were two more individuals with an interest in the property. Even with title insurance, cleaning up the title would take valuable time and lower the value of the investment. It’s not always about title insurance, but about seeing the potential problems before buying a property.
A buyer’s attorney serves to make sure the buyer’s interests are protected. The buyer normally choses the closing attorney, especially in a cash-purchase where the closing attorney represents the buyer. It is important for cash-purchasers and investors to have an attorney look at title and closing documents on their behalf before closing, even when the seller insists on using their closing attorney. Origin Title and Escrow can help avoid drawn-out and expensive title issues for their clients.