Issues a Lawyer Can Help with During Real Estate Closings

 Posted on July 22, 2024 in Real Estate Law

Purchasing a home is a significant milestone, but the process of closing on residential real estate can be complex and feature various pitfalls. In Connecticut, having a knowledgeable real estate lawyer by your side can ensure that your transaction proceeds smoothly and that your interests are protected. Here are three common issues that a lawyer can help you navigate during the closing process: financing issues, inspection problems, and title concerns.

Financing Issues: Navigating Loan Complications

Securing financing is often one of the most crucial and stressful parts of buying a home. Various issues can arise, like delays in obtaining loan approval, changes in interest rates, or unexpected requirements from the lender.

A real estate lawyer can review the terms of your mortgage and help you understand any contingencies that may affect your ability to secure financing. If any issues do arise, your lawyer can negotiate with the lender. Through negotiation, your attorney may be able to present alternative financing options and ensure that deadlines are met, all of which can prevent potential breaches of contract.

Inspection Issues: Addressing Property Defects

Home inspections are essential to uncover any underlying issues with the property, such as structural damages, pest infestations, or faulty electrical systems. If an inspection reveals significant problems, it can throw a wrench into the closing process. A real estate lawyer can help you review the inspection report and advise you on your options.

Depending on the circumstances, options may include:

• Negotiating repairs with the seller.

• Adjusting the purchase price.

• Even walking away from the deal if the issues are too severe.

Your lawyer can also draft changes to the contract, ensuring any agreements regarding contracts are legally binding and clearly stated.

Title Issues: Ensuring Clear Ownership

Title issues are another common issue during real estate closings. Problems such as liens, unpaid taxes, or disputes over property boundaries can significantly complicate or even derail a sale. If your attorney discovers title issues, your lawyer can work to resolve them, whether that means negotiating with creditors, clearing liens, or obtaining title insurance to protect against future claims. Ensuring that you have clear, undisputed ownership of the property is critical, and your lawyer will take the necessary steps to secure this.

Contact a Stamford, CT Residential Real Estate Lawyer

Whether you are dealing with financing complications, inspection-related issues, title concerns, or something else, having an experienced lawyer can make a hugely positive difference. Contact a Fairfield County, CT residential real estate attorney with Law Offices of Daniel P. Weiner. Call 203-348-5846 for a free consultation.