Should buyers and sellers have their own attorney at a closing?

On Behalf of | Dec 20, 2019 | Residential Real Estate Closings

In Georgia, it’s a requirement for all real estate closings to be presided over by an attorney. Your lawyer performs many of the same responsibilities that a title company in many other states may carry out. Attorneys can help both buyers and sellers in many ways that title companies never could though.

First, you must know who the closing attorney represents. While they’re generally hired by the lender to help facilitate the legal transaction of transferring real estate, the lawyer at the closing must be responsive to all parties involved. It’s the closing attorney’s job to respond to any legal questions that may arise as truthfully as possible if any of the other parties aren’t represented by an attorney.

Each party who will be attending a closing can benefit from being represented by an attorney of their own though. In this case, their role is to provide their client with specific advice about what steps may be most advantageous for them to take in certain situations.

Buyers and sellers may also benefit from having someone advocate on their behalf during contract negotiations. Buyers may want to ask their sellers for certain concessions such as payment of closing costs or money for repairs when agreeing to purchase a property.

Sellers may want someone to provide a counteroffer or have certain contingencies put in place. Homeowners may need attorneys to help them remove liens or to take legal action post-purchase. These are some instances in which each party can benefit from having their own attorney.

It’s always beneficial to have an extra set out eyes looking out for your best interests when you’re making a purchase as large as a home. If you’re in the market for a new house, then you may find it helpful for you to consult with an attorney sooner than later. Your lawyer can guide you through the entire Augusta homebuying process, especially when you have legal questions that your Georgia realtor isn’t adequately trained to answer.