Milton Real Estate Closing Attorneys: Secure Your Investment

Expert Legal Guidance for Property Transactions in Sussex County

Buying or selling real property can be a complicated and sometimes frustrating affair for both sellers and buyers. Closing on a house or commercial property can involve many questions, issues, and decisions that must be understood and dealt with throughout the process.

As a buyer, your future home or investment property will likely become your biggest asset, so doing your due diligence is vital. On the other side, sellers are also subject to many obligatory actions and procedures under state laws designed to provide transparency to buyers.

When it comes to real estate settlements, many issues can arise between buyers and sellers. These issues require the experienced help of a legal professional to produce a satisfactory resolution. Our closing attorneys at Adkins Law Firm can help.

What Are Real Estate Settlements?

A real estate settlement, also known as the closing, is the last phase of buying or selling a property. The closing process involves many steps and an enormous amount of documentation.

During the settlement, many legal disclosures must be provided to buyers under the Real Estate Settlement Procedures Act. This act is a federal law devised to protect consumers.

Some of these closing disclosures include:

• Information booklet explaining closing costs
• Good Faith Estimate of what those closing costs will likely be
• Mortgage Service Disclosure Statement
• HUD-1 Settlement Statement, which shows actual closing costs

Prior to your closing date, contingencies or other complications can sometimes occur in real estate sales. These complications can stall or even stop a settlement, resulting in what is known as “falling out of escrow.” Buyers and sellers are then left with the frustrating prospect of starting all over again in their quest for a purchase or sale.

What is a Closing Attorney and What Do They Do?

Under real estate law in Delaware, buying a home involves a title search. This title examination involves researching public records to find out if any liens on the property would make it nontransferable. This is a task for your real estate lawyer or a title company. Also, you may have questions regarding legal matters that your agent cannot answer.

Any real estate transaction involves enormous amount of documentation. This documentation uses legal language a normal person often finds impossible to understand. As your attorneys, we can guide you through this paperwork as well as research any unusual aspects of the property. We can assist you with illegal units, boundary or easement issues, and more.

Our attorneys can write specific and detailed contracts if you have any type of unusual situation that needs to be handled. All of this is done to ensure that your interests are thoroughly protected throughout the process and settlement.