The firm handles hundreds of real estate closings annually. We handle residential and commercial transactions.
The first step in the process is the signing of a contract. If a realtor has prepared the contract, then the contract will be sent to the attorneys for "attorney review," which is a process during which the attorneys will propose modifications to the contract to protect their respective clients. While the contract is under attorney review, it is not binding and can be terminate by either party for any reason.
Once attorney review is completed, the buyer will generally arrange for inspections. The parties will then negotiate the inspections. Once the inspection issues have been resolved, the buyer's attorney will generally order title searches and a survey for the property. If the buyer is securing financing, then the buyer's attorney will arrange for the title searches to be sent to the lender in order to clear the file to close. When the lender has cleared the file to close, the parties will schedule and hold the closing.
If you have any questions about real estate transactions, please do not hesitate to call the office.