It is really important to consider the help of a real estate closing lawyer, because as complicated and challenging as real estate transactions can be, there is no part of purchasing or selling a property that is as complex as the closing process. With few exceptions, closing the contract on a real estate deal is often the most stressful because of the sheer volume of unforeseen circumstances, situations, and surprises that have the potential of derailing the entire process.
There are a lot of unique services required throughout the real estate purchasing process and all of those services cost money. Rather than have the contracted parties pay for those services each time they are utilized, most of these service fees are rolled into a general ‘closing cost’ amount. A few of those closing cost service fees include:
Closing cost amounts are typically factored as a percentage of the loan amount. While this percentage varies depending on which state you’re purchasing property in, the typical closing cost rate ranges between 3% to 5% of the loan amount. Unless otherwise stipulated and agreed upon in the contract, the buyer will usually pay these closing costs. It should be noted that all the closing cost fees will be detailed in a report put together by a ‘closing agent’. However, it is important to know what fees and charges make up these closing costs before the paperwork is signed. That is why experienced legal real estate representation is needed throughout this process and a real estate closing attorney can make a huge difference.
As you might expect, commercial property transactions can be even more complicated than residential property purchases. Commercial real estate laws have plenty of provisions and variables that you won’t find in a residential transaction. For example:
The complex nature of commercial real estate transactions makes it imperative that you have proper legal representation. Without it, not only could you lose money, but you could easily cross legal lines that come with potentially hefty financial and punitive punishments.
The smooth transfer of property from seller to buyer requires the experience, knowledge and professional representation of a real estate closing lawyer. Shawn Bolger Ltd. is fully equipped to not only represent your property sale or purchasing interests with their 30+ years of real estate brokerage and law experience, we also have a team of real estate legal experts fully prepared to put our wealth of experience to work for you. So, give the Shawn Bolger Law Firm a call at 855-316-8045 and schedule your free consultation today.