Ensuring a smooth real estate settlement - or “closing” - can be challenging at times, especially without the right knowledge and support at hand. This is where a real estate attorney can help.
According to the Realtors Confidence Index Survey published in June 2024 by the National Association of Realtors, around 5% of deals fall through, and 13% experience delayed settlement. The reasons for these pitfalls are varied, from title defects to appraisal discrepancies. Working with a lawyer is essential to ensure a smooth legal journey, and ensure that both the buyer and the seller can proceed with confidence.
Real estate settlements are often referred to as closings. This term describes the final step in transferring property ownership from seller to buyer. This legal process encompasses multiple aspects to ensure that the transaction is legitimate and lawful.
From a legal perspective, settlements finalize the contractual obligations outlined in the purchase agreement. They involve the transfer of the title from the property owner to another, recording of essential documentation and disbursement of funds.
The process of selling or purchasing real estate can vary in length. Real estate settlements are the last step of this process and involve the production and finalization of a range of essential documents. These documents and steps can vary, but they often include:
According to the Top Agent Insights survey by HomeLight, some of the most common issues in real estate settlements include:
A real estate lawyer plays a pivotal role in helping both buyers and sellers navigate a real estate settlement without issues, by:
Managing a real estate settlement can be complex. Contact Bingaman Hess today to schedule a consultation with one of our experienced real estate attorneys. Our team of seasoned legal professionals brings a wealth of talent and experience to every case, ensuring that you receive the highest level of representation and personalized attention.
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610.374.8377
2601 N. Front Street
Suite 206
Harrisburg, PA 17110
610.374.8377
12-14 West Northampton Street,
Suite 7
Wilkes-Barre, PA 18701
We have been providing exceptional service, advice, and representation to clients for more than 60 years.
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