Challenges can include title issues such as undisclosed liens, unresolved boundary disputes, and errors in public records. Outstanding liens and judgments, if attached to the property, may become the new owner’s responsibility. Disagreements between the buyer and seller, such as repair requests, disputes over property condition, or division of closing costs, can complicate the process. Financing hiccups, like delays or issues with mortgage approval and funding, can also disrupt the closing. Errors or omissions in the documentation, such as incorrect names or missing signatures, can lead to delays or even nullify the closing.
Another potential issue may be survey discrepancies, such as boundary line problems or unrecorded easements. A final walk-through of the property before closing may reveal unexpected issues, such as damage or missing fixtures included in the sale. Inadequate or expired homeowner’s insurance can also create complications. Having one of our skilled Emerald Coast Title closing attorneys on your side is invaluable in addressing these potential issues. Their expertise in real estate law and the closing process helps you navigate any challenges that may arise, ensuring that your closing proceeds smoothly and legally sound.
Your closing attorney conducts a meticulous title search to uncover any existing liens, claims, or restrictions on the property. They also guide you in obtaining title insurance, protecting you from potential title defects.
Drafting and reviewing closing documents is a crucial aspect of the attorney’s role. This includes the purchase agreement, deed, mortgage, and any additional documents required for a successful closing.
Your closing attorney is responsible for collecting and distributing funds. This includes managing the down payment, closing costs, and any escrow accounts. In addition, they ensure that all financial aspects of the transaction align with your agreement.