People’s decisions are actually divided whether they should be contacting a title company or real estate lawyer to help them sell their house. You can choose whichever you like but, you need to know first what is the difference between a title company and a real estate lawyer. For this reason, it will be a good idea to read the next lines to find out which service is best to get.
Real estate lawyers are specializing in laws that are in relation to real estate and ensure that your interests are met. These legal representatives may also serve as escrow agents as they hold your down payments, earnest money and even assist you with requisite documentation. 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.
And if ever the attorney of the lender didn’t do the closing, it is your real estate lawyer who’ll take care of it as well. 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.
Not only that these services are provided by the lawyer, you’ll see them as well negotiating for modifications in contract purchase that seller wants to incorporate. Another vital aspect of real estate lawyers is to prepare 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 or her who will be advising on the involved tax implications in your property sale or home sale.
Now when talking about title companies, they are more of an insurance agent that represent title insurance companies. It is these companies as well that insure the titles both to the lender as well as seller by guaranteeing that the title is free from any encumbrances that can soon lead 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 availability of the title on a certain property or house is clear and vouched for as well by the company. Both parties have got nothing to worry about as the firm does its best in protecting their rights and interests.
In most instances, several title companies insure the closing by considering the help of a lawyer. 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.