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Role of a Closing Attorney in Lynbrook, NY

 Buying and selling of property is an incredibly complex process that a layperson is unable to handle alone. With many rules to comply with and multiple documents to sign, even a single error can be significantly magnified. It thus makes sense for the seller or the potential buyer to hire the services of an experienced closing attorney in Lynbrook, NY.

True, there are many stages in a property transfer transaction, but it is the final stage that is the most important. Involving the expertise of a lawyer is critical at this juncture, regardless of having the attorney by the side during the initial stages.

The responsibilities of the closing lawyer are diverse and often include the following:

Title Search- This is the first stage of the long process, with the lawyer being responsible for looking through the public and other records of the property ownership. Having the name in the title deed is essential to claim ownership. While this may be a brief process ordinarily, a title that goes back hundreds of years needs to be traced carefully. Oftentimes, the defect apparent in the title, such as unpaid liens or disputed ownership, may be rectified with the help of a lawyer. The legal professional or a title company also provides title insurance to the prospective owner and the lender to protect them from any future problems.

Drawing up Documents - It is the attorney's responsibility to prepare all the required documents after verifying the relevant facts. The title documents, purchase documents, and mortgage papers are prepared diligently with the consent of all the concerned parties, including the lender.

Review & Explanation- The legal jargon used in the documents is not easily understandable. The lawyer connects with the buyer on the day of the closing to help the individual learn more about the contents of the documents that are explained in lucid words by the lawyer.

Signing of Documents - The attorney may hand over the documents and have the buyer sign them at the designated spaces. The legal representative may guide their clients closely to ensure the accuracy of the papers.

Fund Transfer - The specified sum of money agreed upon between the parties for the transfer of title is handed over to the attorney responsible for disbursing the funds to the seller, realtor, and other service providers.

The concerned lawyer is also responsible for the official recording of the new deed of transaction by the concerned department of the government.

True, the buyer or seller may decide to have legal representation of an experienced real estate attorney in Queens County and Far Rockaway, NY, right from the initial stages of the transaction; it is the closing that is most important and requires suitable representation. A smooth and hassle-free property transaction is ensured when a real estate lawyer represents the concerned parties. This also provides peace of mind for both the seller and the buyer, guaranteeing the relief and satisfaction of all concerned individuals. 

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