REPRESENTING THE INTERESTS OF THE BUYER IN REAL ESTATE TRANSACTIONS

If this is your first home purchase, or perhaps you haven't purchased a new home recently, the process may seem confusing. We hope that our office can make the entire purchase process effortless and problem free for you.

There are a few things to remember. It is not the responsibility of lender's counsel to advise you on your rights and obligations regarding your new home purchase. Our office can represent you, even if we are handling the closing for your new lender, for a reasonable fee and give you the comfort you need to proceed confidently toward the purchase of your new home. Some of the services we provide when representing buyers are:

• Prepare and/or review the Purchase & Sale Agreement
• Review the commitment letter from the lender
• Resolve issues which may arise during the pendency of your purchase 
• Assist you if you are selling real estate to purchase your new home
• Review the deed from Seller’s Attorney
• Attend the closing and answer questions you might have
• Resolve disputes that may arise at any time during the closing process

TITLE INSURANCE AND ITS IMPORTANCE IN YOUR TRANSACTION

The lender requires that they be provided with a lender’s title insurance policy (loan policy) to protect their interest in your property up to the amount of the mortgage. While the premium for the loan policy is included in your closing costs, it does not protect you. Your ownership interests are insured only by an owner’s title insurance policy (owner’s policy). While the lender’s coverage under the loan policy decreases as the mortgage is paid down and terminates when the final payment is made, your owner’s policy remains in effect for as long as you and your heirs own the property.  The owner’s policy is available for a one-time premium and at a discounted rate if purchased simultaneously with the loan policy at the time of closing.  Discounts may also be available for first time homebuyers.

Click here to calculate the cost of owner's title insurance and discounts for first time homebuyers.

The owner’s policy provides coverage for numerous matters which are not covered by the standard attorney’s Certification of Record title and which are not discoverable by searching the land records. Typical examples of such matters include forged documents, the incapacity of a grantor, undisclosed or missing heirs, missing signatures, mistakes in recording including misindexing, unknown creditors and problems involving access to the land. The best owner’s policy now available is known as the Eagle policy, which provides additional protection for problems such as zoning and building permit violations, restrictive covenant violations, and encroachments. (Including those that occur after your purchase)

Because we believe that obtaining an Eagle Owner’s Title Insurance Policy is in your best interest, we will plan to issue same and include the additional premium cost in the settlement figure you will bring to closing unless you advise us to the contrary.