You Need to Ensure that You Are Getting a Clear Title
When you buy a piece of real estate, you want to make sure that you are getting the title free and clear of all encumbrances. And if there are encumbrances on the title, you want to be crystal clear about what they are what they mean to you as the buyer.
It is also important to know that the person selling you the house actually owns the house, and has the absolute right to convey their interest in the house to you. Sometimes a title search company assists with this important task. Your attorney can make sure that you choose a reputable title company and that the title company properly searched the chain of title, and that your seller is who they claim to be.
Purchase Contracts Are Complex
Even if you signed the purchase contract with your realtor before seeking the advice of a Colorado Real Estate Attorney , it is a good idea to have a lawyer look at the contract before the sale is closed and final. Your attorney can look out for any irregularities, vague or overly restrictive terms in the contract language. This will give you more time to re-negotiate or clarify any confusing terms before you get close to closing.
You also need to ensure that you are holding up all of your parts of the bargain (and that the sellers are keeping their obligations), so an attorney can make sure that all conditions that need to be handled before the closing happen in a timely manner.
Preparing the Closing Documents Is Confusing
Before you can close on your house, you must have the proper closing documents prepared accurately. This can be a time consuming and confusing process, because the figures used to calculate your final total and cash needed to close. Your lawyer will explain all of the calculations on the closing statement, and any confusing terms on the document.
A Lawyer Prepares and Records the Deed
When you purchase a house, you will need a new deed prepared naming you and any co-owners as the owners of the home. Your lawyer will ensure that the deed is properly prepared with the right language indicating the nature of your ownership interested (for example fee simple absolute or joint tenancy with right of survivorship). Your Colorado Real Estate Lawyer will help you choose the right ownership interest and be sure that you understand everything on the deed.
When the transaction is complete, your attorney’s office will ensure that the deed is properly recorded with the proper County Clerk. If your deed isn’t properly recorded, it could be a big problem.
At Skulborstad Legal Group, LLC , we know that moving and buying a home can be hectic and stressful. Let us take the legal part of the transaction off of your plate. By hiring a Colorado home buying lawyer, you can concentrate on getting ready to enjoy your new home.