What exactly does a real estate attorney do during a standard, residential closing?

24 Hour Title

Real Estate Closing Attorney
  • Conducting title searches and preparing abstracts of title;
  • Reviewing the status of the title in the title commitment, resolving any exceptions to the title, and reviewing the purchase agreement to identify any requirements in it in order to ensure compliance with this fundamental contract;
  • Verifying the payment of existing loans secured by the real estate;
  • Verifying the amount of special assessments and calculating taxes on the property;
  • Obtaining an updated title insurance commitment to the date of closing;
  • Preparing the required checks, deeds, affidavits, and obtaining any authorization letters needed;
  • Establishing a time and place for the closing, conducting the closing, and ensuring that all parties properly execute all appropriate documents and meet all commitments;
  • Collecting and disbursing funds for the parties;
  • Holding funds in escrow pending satisfaction of certain commitments;
  • Preparing Significant Paperwork – including the HUD-1 Settlement Statement, the mortgage, the deed of trust, and, where applicable, the Truth-in-Lending Statement, and the purchaser’s affidavits; and
  • Recording the appropriate documents as required under law.

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