When you sell your home, you don’t always have to hire a lawyer to go over the contracts and make sure that everyone is in order. In fact, many times, the title search company can do exactly that for you without the headache and extra cost that a real estate lawyer would cost a home buyer or seller. In many states, title search Companies can do the exact same thing, especially if the sale and purchase is a win/win for everyone involved.
If you are selling your home by owner instead of using a real estate agent, a title search company can help you prepare documents, and they will also retain the down payment with a copy of your contract. Once the buyer’s lender has handled the loan agreement, it will be sent to the title search company. The agent will tell you what you need to do as the seller, and once an arrangement has been made, your sale will go through.
Often times, choosing to use a real estate lawyer over a title search company can complicate your negotiations and make it more difficult to sell. A residential closing, meaning a home over a business, is fairly standard. There are sometimes snags along the way, however, for the most part, it is as simple as filling in the blanks and handing over the keys once money exchanges hands. Choosing a lawyer over a Realtor or title search companies can often result in stricter, and higher fees that nobody wants to pay. Realtors are required by law to be versed in real estate law so they don’t do anything illegal or sell someone a home that should never have been on the market to begin with because of environmental or health concerns.
In most cases, a title agent company can hold escrow and close a home for you at no additional cost. If you choose to use a lawyer to do the same, you should expect to pay a fee. When it comes to selling the home, your results may not be an better, and are likely to scare off a buyer if they aren’t using a lawyer as well. Most of the time, sellers will use the title loan company that they recently refinanced or bought the home from to receive a slight discount. Choose what is best for you and the situation you’re presented with.
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