Consult Mohsin Early in the Sale Process

While many people only think of lawyers being involved at the closing stage of a real estate sale, having an experienced real estate lawyer involved early on can prevent future problems by ensuring that your interests are protected at every stage of the process.

Ideally, home sellers should contact a lawyer before signing an Agreement of Purchase and Sale. Although these Agreements are standardized, you should not lose sight of the fact that they are legal contracts and that in signing them, you are taking on legal obligations. Moreover, you should be aware that, like any legal contract, the Agreement can be altered to better suit your interests. A real estate lawyer can explain the implications of the Agreement, ensure that the Agreement has been prepared properly and make any amendments necessary to ensure that the agreement accurately reflects your intentions.

A real estate lawyer should be contacted, at the very least, two weeks prior to closing to allow him or her to prepare adequately for closing.

Your Real Estate Lawyer’s Role in Selling your Home

During the home sale process, your real estate lawyer will:

• review the Agreement of Purchase and Sale and other legal documents;
• negotiate terms and conditions contained in legal documents to protect your interests;
• prepare the deed to your home;
• ensure that the buyer has purchased title insurance to cover any ownership issues that may arise;
• ensure that all legal and financial conditions have been met upon closing;
• prepare the statement of adjustments, which sets out what you are owed on closing for any expenses you have prepaid, such as property taxes or utilities; and
• exchange legal documents, keys and funds with the buyer’s lawyer.

If you are selling before you buy another home, your lawyer will ensure that the funds from your sale are put toward your subsequent purchase. If you are buying before you sell, your lawyer will arrange a bridge loan for you.

Your real estate lawyer can also help you deal with any special issues that arise. For example, while the law requires “vacant possession,” you may not wish to move that heavy workbench you have in the basement. In such a case, your lawyer can arrange for the buyer to take them home on an “as is” basis.

Your lawyer can also assist you in resolving any past financial and legal difficulties that could come back to haunt you at the time of the sale.

Special Considerations when Selling an Estate Home

If you are the executor of a will who intends to sell the deceased’s home, there are special steps you must follow. For example, before you can proceed with listing the property for sale, you must go through the probate process and obtain a Certificate of Appointment of Estate Trustee from the court. Then, you must determine whether you have the authority to sell the property or whether you need to obtain the consent of the will’s beneficiaries before proceeding.

Our dual focus on wills and estates and real estate law makes Sattar Law Firm uniquely capable of dealing effectively and efficiently with the sale of estate property. The founding partner of the firm, Mohsin Sattar, has hands-on experience in estate law.

Contact Us about the Sale of your Home

To learn more about how Sattar Law Firm can help you with the sale of your home, contact us today!