California property transactions require that all steps of the closing process are fulfilled properly. The first step for an attorney in preparation of this event is to verify that the seller’s name appears on the current title or deed. A title search is required to establish whether each transfer of title was completed correctly. A Real Estate Attorney in San Diego can also provide title insurance for the buyer after this search to protect their interests.
Evaluation of the Sales Contract
A Real Estate Attorney in San Diego evaluates the sales contract. He or she assists explains the terms of the contract to allow the buyer in a way that is easily comprehended. This eliminates the possibility of hidden terms that could confuse the buyer. It also prevents the probability that the realtor could alter their commission calculations to acquire a higher value. Unreasonable requests by sellers are also addressed through legal counsel.
If the seller makes an attempt to back out of the sale, an attorney can prevent this action by filing a motion for a lis pendens. This prevents the transfer of the title to any new owner other than you due to your right to purchase the property. Another adverse occurrence that could happen to stall the sale of the property is an IRS lien. This is why the attorney secures the title insurance, which protect the buyer in case of these events.
Your attorney can ensure that there are stipulations in the sales contract which identifies all repairs required by the seller. After the home inspection, the seller is required to make arrangements for repairs for any issues that are discovered. It is urgent that your attorney reviews the sales contract to ensure that these bases are also covered.
Potential home buyers in the California area should take advantage of the benefits provide by their own legal counsel. It is never a good idea to approach a closing with only the seller’s attorney present. Your own attorney secures your interests and assures you that the transaction is fair for everyone before you sign. To learn more about real estate transactions and the law, click here for info today.
