Real Estate Closing FAQs

Whether it is your first time involved with a purchase or sale of real estate, or if you are a veteran in the area, it is very easy to overlook a crucial step or fail to do something critical to the closing process. Here at Frese, Whitehead & Anderson, P.A., we want to help you understand how an attorney can help you in your closing process, and just what that process is. Here, we will answer some of the more common questions our clients have about this matter.

Why Do I Need An Attorney For A Real Estate Closing?

The experienced supervision we offer in the closing process is invaluable to our clients. We can examine documents, providing clarity to confusing or poorly worded areas. We can also explain what the deal you are agreeing to means for you. We do all of this while also overseeing the closing process and keeping an eye out for any errors or hidden clauses that can cost you in the long run.

What Is A Real Estate Closing?

Real estate closing is the last step in the buying or selling of real estate. Closing a real estate transaction finalizes and confirms all of the negotiations that you have done, and puts your terms into law with this legal document. The closing date, the day that both parties sign the agreement, is often many weeks or months after a party accepts the offer for the sale. This is to ensure that both parties have enough time to review the documents and verify that the documents in order are agreeable to their terms.

Who Is Present At A Real Estate Closing?

There are actually more people at a closing day meeting than you would expect. Firstly, the buyer and seller are present, of course. Typically, their lawyers are present as well. In addition to these four people, the closing agent, the representative of the title company, the mortgage lender and even the real estate agent are all people who are usually present at these meetings. Having an attorney there to represent you can make you feel like you have the respect you deserve in these meetings.

What Types Of Documents Are Involved In A Real Estate Closing?

There is more than just the closing document that will make an appearance at the closing. Other documents you should expect include:

  • The deed
  • Bill of sale
  • Seller’s affidavit
  • The note of loan terms
  • The mortgage
  • The loan applications
  • The loan estimate
  • Closing disclosure

It can seem maddening to keep track of all of these documents, and what they do, and make sure they all go to where they need to in a correct and accurate manner. We can help you keep things organized and accurate.

Our Experience Is Your Benefit

If you are looking to go through the closing process of your real estate transaction, make sure you do everything right the first time to save you time, money and energy, giving you a better opportunity to enjoy the next chapter of your life. Contact our Florida attorneys at our Melbourne office by calling us at 321-984-3300, or by emailing us here to schedule your initial consultation

To Our Valuable Clients:

The federal government has recently enacted legislation to assist citizens and businesses facing uncertain financial challenges due to COVID-19. We are here to help answer questions and guide you through the details of the various processes to procure financial assistance from our government. The acts are very new and more will probably be coming. But they currently provide for dollar for dollar tax credits for payroll for COVID19 related payroll, cash advances and loans that have tremendously favorable terms and in some cases, total forgiveness of the debt.

Please stay as safe as possible during this terrible crisis and if we can help you with questions about the new federal assistance laws, please contact us.

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