Buying a property, whether you’re purchasing a commercial building for your business or want to buy a new home, is both exciting and stressful. Until you and the seller sign on the dotted line, it’s normal to worry about things falling apart, even when you’ve made it to the closing appointment. Working with a Minnesota real estate attorney can help take the stress out of the sale. Here’s how they can help you when you reach closing day.
They Can Uncover Possible Issues
Leading up to closing, you have a final chance to make sure the property is ready for purchase and that there aren’t outstanding issues that could derail your closing day. Your Minnesota real estate attorney can help by doing deep research into the property’s history, condition, and other factors. If they notice anything of concern, they’ll notify you promptly. This gives you a chance to either work things out with the seller or withdraw from the purchase without losing your earnest money.
Remember, the seller needs to fulfill the terms of the contract, and if they fail to disclose an outstanding lien on the property or a safety hazard associated with the structure, you’re free to walk away.
They’ll Represent Your Best Interests
Negotiations can still continue on closing day. And unfortunately, real estate agents may be overly eager for the sale to move forward so they can get their commission. This could put you at risk of being pressured into a sale that doesn’t completely align with your needs or the terms you expected. When you work with a Minnesota real estate attorney, they only work for you. It’s their job to protect your interests and ensure that the purchase works for your needs.
They Can Prepare the Necessary Paperwork
Closing documents need to be tailored to the unique terms of your purchase agreement, the property, and any other factors that may impact the sale. This means you can’t use boilerplate forms to get things done quickly without sacrificing your legal protections.
Your real estate attorney can help draft the necessary paperwork to ensure that the terms of the purchase agreement are enforceable and that your rights are preserved.
They Can Mediate During Disputes
It’s not uncommon for disputes to arise between buyers and sellers at closing. And those disputes, however minor they may be, can delay closing for weeks. When you and the seller are both pursuing your own interests, reaching an equitable agreement can be tough. With a real estate attorney helping you on the big day, you’ll have an experienced professional available to mediate during those disputes. They can help keep the dialogue flowing so you and the seller can move forward faster.
They’ll Review the Closing Documents
Making sure the closing documents cover everything you need them to is something you and your real estate agent may not be equipped to do. These documents are full of complex terms and legal jargon that can be tough to interpret without a solid background in real estate law. When you work with a real estate attorney, you’ll have someone on hand to review those documents in detail. If they identify any terms that go against your best interests or things you were prepared to agree to, your attorney will be able to tell you before you sign.
During the review, they’ll also check for terms that aren’t legally enforceable. They’ll be able to amend those terms to ensure that the closing documents are correct.
Speak With a Minnesota Real Estate Attorney Today
If you’re planning on buying a property, don’t try to navigate closing on your own. Let an experienced Minnesota real estate attorney help so you can close on the property quickly. At Waypoint Law, our team is here to help. Schedule a free consultation and let our attorneys represent your best interests at closing.