Buying or selling a home is a significant transaction. For many people, their home is one of their biggest investments.
When you buy or sell a home, there are many players involved – real estate agents, banks, inspectors, and more – so getting quality representation is an important step to protecting your investment. Many foreclosures are being suffered by homeowners who did not get good advice when they purchased their homes. Buying or selling a house can be confusing and there is a lot at stake.
At Farrell & Grochowski, we will guide you through the process and protect your legal rights while making sure that you are comfortable throughout the transaction. Although some banks will close a loan with a notary, the best thing you can do is have an attorney looking out for you. We are familiar with negotiating with banks and arranging short sales.
Here at Farrell & Grochowski, we know that many different factors (such as tax adjustments) can make a big difference in your bottom line if they are written in correctly. We can draw up contracts for you or review one that has been drafted by someone else in order to help ensure that you know exactly what you’re signing up for.
We can help with financing by comparing the costs of and advising you about the various methods of financing outlined by different banks and brokers. Certain methods of financing can cost thousands more in closing costs, but our goal is to protect you and your assets.
Houses and land come with a history; part of that history is the chain of title (who owned it before and what types of rights and restrictions go with the land). Your attorney can do a title search and make sure you are getting what you want and not buying any problems you don’t.
In addition to making sure that you are getting good ownership through a title search, we can arrange for you to get title insurance. This insurance protects you if there is a dispute with the neighbors over the property lines or someone claims an interest in your property. If you are financing, the bank will require you to have insurance in the amount of the mortgage. You should get additional insurance to cover your equity.
Your attorney will arrange the closing date with the other parties and the bank. At closing, we will explain all the mortgage papers, deeds, and figures. If you are a seller, any mortgages that are on the property will be paid off through the closing. If you are buying, the attorney will record your deed to the property on the land records ensuring your ownership.
We are committed to providing personal service to all of our clients.