In today’s challenging real estate market, it is important to work with attorneys who are experienced and knowledgeable about local, state and federal guidelines and real estate regulations.
The Law Offices of Jeffrey R. Stoll, P.A.’s extensive residential and commercial real estate practices provide a complete range of services – from contracts and closings to title insurance. We represent individuals, developers, builders, commercial clients, investors, lenders and businesses in all proceedings and transactions that deal with real estate.
Fully understanding other aspects of real estate transactions in addition to legal work allows us to provide more thorough service. We employ staff members who have worked for lenders, appraisers, mortgage brokers and real estate companies to broaden our knowledge base. We draw on our years of industry experience and technology to manage every real estate case with individual attention.
Real Estate Closings
The Law Offices of Jeffrey R. Stoll, P.A. has extensive experience handling residential and commercial closings. The real estate attorneys and experienced staff members at the firm are committed to being accessible to you at all times and to keeping you informed about the status of your closing. We provide prompt responses to your questions and requests and we do our best to exceed your expectations. Our real estate clients include realtors, brokers, developers, builders, contractors, private investors, lenders and numerous homeowners. Closing attorneys are real estate lawyers who are experienced in closing property transactions and resolving any issues before you close. An attorney will review and explain all the documents that you will be signing at the closing and will ensure that you have clear title to your property.
Whether you’re buying or selling a home, your real estate closing attorney is there to make sure that your interests are protected and that everything goes smoothly at your closing. The closing attorneys at the firm will review all of the documentation associated with the purchase or sale of property in advance of your closing to remedy any errors, omissions or technical insufficiencies. A great deal of research is necessary to ensure that, among other things, the title is good, there are no liens against the property and that the transaction will close as anticipated. When you buy a home or a commercial property, our office has already handled much of the most important work related to the closing, including the title examination.
Title Insurance Services
As a vital component of our real estate transactional practice, our in-house title staff routinely assists clients by examining title searches, preparing title opinions and reviewing the status of title reports. We are underwriters for First American Title Insurance Company and Old Republic National Title Insurance Company.
Services Performed Prior to Closing:
- Order abstract/ title insurance commitment
- Examine evidence of title
- Note title exceptions
- Obtain copies of title exceptions
- Send title report to client
- Notify seller of acceptance or objection to title
- Obtain curative documents, if necessary
- Give final approval/ rejection of title
- Proceed to closing or demand return/ forfeiture of deposits.
- Search circuit court records for liens (name search)
- Order and obtain survey or update
- Compare legal description with contract description and description in evidence of title.
- Note encroachments, easements, overlaps, access.
- Check certification and surveyors certificate
- Notify seller of objections to survey
- Obtain curative documents/action
- Give final approval/rejection of survey
- Review inspection reports
- Notify seller of needed repairs or waiver
- Give final approval/rejection of conditions
- Obtain loan commitment or loan assumption approval
- Obtain payoff letters stating required mortgage payoff sums for seller.
- Obtain letters from taxing authorities regarding liens or assessments.
- Obtain homeowner or condominium estoppel regarding liens or assessments.
- Notify seller of ability/ inability to satisfy financing conditions
- Obtain homeowners insurance (including flood insurance, if required, and mold rider).
At the closing, we will:
- Review the HUD-1 Settlement Statement detailing costs and make any necessary adjustments.
- Allow you to read all of your closing documents before you sign. Your closing attorney will give you concise explanations of each document. The closing documents must be executed as written. No changes may be made to the wording of the lenders closing loan documents.
- Confirm the disbursement of the proceeds of the transaction and a payoff of all current liens against the property.
- Record in the county land records all necessary documents such as the warranty and security deeds.
- Return to the lender the completed loan package.
- Disburse all funds in accordance with the HUD-1 Settlement Statement.
- Ensure that the mortgage is paid and satisfaction issued.