3 Tips for a Successful Residential Real Estate Closing Process

Whether you’re buying or selling a home, closing day is the most important day in the process. It’s the day you’ll take or relinquish ownership of the property. To ensure a successful closing day, you’ll want to handle the closing processwith care.

You can expect your real estate closing to take approximately two hours. You can also expect multiple parties to be involved, including a closing agent, your lender and your realtor (if applicable). To ensure a smooth closing process, here are some tips.

1. Do Your Due Diligence

If you’re a buyer, make sure you understand what you’re purchasing. Conduct a final walkthrough of your property to confirm there are no repairs still required or additional property issues. Look over your purchase agreement to ensure everything is as promised.

If you’re a seller, complete all necessary repairs as far in advance of closing as possible and make sure you’ve prepared the home well for its new owners.

2. Prepare Documentation & Payment in Advance

You’ll need some documentation on the day of your closing, including a photo ID and any outstanding forms for the title company or loan officer. You’ll also need the payment for your closing costs depending on your financial responsibility. 

In most cases, you can use a cashier’s check made payable to the closing company. Prepare your closing documents and payment in advance to ensure a faster closing process.

3. Consider Hiring a Real Estate Attorney

Although Texas doesn’t require you to have a real estate attorney when buying or selling property, real estate transactions are often complex. And sometimes disputes can arise during the closing process. An attorney can act on your behalf in the event of these disputes. 

For example, there might be something in the purchase agreement that wasn’t there before. You’ll want an attorney by your side to ensure your rights are protected as a buyer or seller.

Buying or Selling a Home? Reach Out to Lonergan Law Today.

Are you ready to buy or sell a home? Or are you worried about the closing process? The team at The Lonergan Law Firm, P.L.L.C. can help. To learn more about the closing process or to schedule a consult, give us a call at 214-760-6768 or send us a message.

3 Reasons to Use a Real Estate Attorney When Buying a Home

Buying a home is one of the biggest, most important purchases you’ll make during your lifetime. You’re investing a lot of money while committing to making monthly payments for up to 30 years. 

Before you sign on the dotted line, protect yourself. Make sure to involve one of our experienced real estate attorneys right from the start. 

3 Reasons to Hire an Attorney at the Outset of the Home Buying Journey

You’ll want to enjoy your home for many years to come without worrying about hidden legal and title problems that the seller should have disclosed. Here are three reasons to have a lawyer involved in a real estate transaction from the beginning: 

1. To Avoid Title Issues

Title issues come up in many contexts, including zoning and estate matters. However, some of the most common problems arise when:  

• A creditor filed a lien on the home against a seller, preventing the seller from selling the home
• The seller is divorced but the former spouse’s name is still on the deed
• Children inherit a property but not all of them agree to sell it, an attorney can help negotiate the purchase with the remaining siblings who inherited a share of the property. 

2. To Protect You When Buying a Foreclosed Property 

Buying a foreclosed property is attractive because there are many bargains to be found. Yet, the process is complex. Novice buyers can be on the hook for hidden fees and costs on a disaster of a property that is sold “as-is.” 

If you’ve never purchased a foreclosed property before, you’ll definitely want to involve a lawyer as soon as possible. A lawyer can explain the risks and benefits and protect your interests at the same time. The upside is that you can find a suitable, well-priced property after doing your due diligence and having a lawyer represent you. 

3. To Prevent Problems Before and After Closing

Even after a smooth closing, problems can come up. Real estate agents alone can’t always predict legal problems and aren’t trained to spot them. Most agents just want to get the deal done and closed on schedule. 

But what if you later discover a non-conforming addition, hazardous waste or your pre-closing inspection reveals a serious problem like radon or a serious rodent or snake infestation? Some agents will convince clients to allow sellers to “fix” a problem after the sale closes or adjust the price. 

We can be involved in your purchase from beginning to end. If you involve us early, you could save yourself a lot of time, aggravation and money later. 

A Lawyer Can Help Your Transaction Go More Smoothly

We are a trusted, full-service Dallas real estate law firm and have helped people buy and sell real estate for decades. Please email or call us at 214-760-6768 to learn about how we can help make your home purchase and closing go smoothly. 

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