Why is it important to have knowledgeable legal representation to “coordinate the Closing” on a real estate transaction?
Often, a preliminary title report for a property will contain “scheduled exclusions” from Title Insurance coverage, which are not appropriate for your transaction and, therefore, need to be modified or removed by legal counsel prior to Closing in order to protect your investment.
Additionally, lender security documents such as mortgages, assignments of rent, and UCC financing statements are often coordinated with the Title Company and need to be confirmed against the terms and conditions of your unique transaction. Also, legal counsel can ensure that any zoning or use variances are in place before Closing.
Finally, the Title Company will issue a preliminary Closing Statement outlining the financial aspects of the transaction, and those numbers should be confirmed and approved prior to Closing.
Stimler Law Offices can help you at your Closing to be sure that these and other matters unique to your real estate transaction are properly coordinated to achieve your expectations.