Is it better to talk to your real estate lawyer than to a title company with regards to the matter of selling your house? You can choose any of the two however, you have to learn first the difference between title companies and real estate lawyers. Here’s some info on both entities and to which services you can benefit the most.
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.
Aside from that, real estate lawyers are taking care of the closing if ever the lender’s attorney does not do that. 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 integral aspect that real estate lawyers do is preparing the seller’s deed. It is your lawyer as well who’ll be accompanying you in meeting the buyer/client at time of settlement. It is him/her as well who will give you advice to the tax implications that are involved in the 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 are insuring titles to the lenders and the buyers by making sure that the title is free from encumbrance which may possibly result 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 title’s availability on a particular property or house is made clear and is vouched for by the company. Throughout the process, the firm will be protecting the interests and the rights of both sides in question.
Oftentimes, many title companies insure closing with the help of a lawyer to fulfill some requirements. 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.