Attorney representation at real estate closing
Full Question:
Answer:
Many states require attorneys to be involved in the closing of a residential real estate transaction and some areas, such as some of the western states, attorneys are not involved in the transaction and title or escrow companies handle the transaction.
You did not indicate if there was a particular state that was of interest to you. However, we would be able to conduct a state survey for you outside the scope of this answer (for an additional fee).
In the meantime, since you were inquiring from Connecticut, here is some information regarding the practice there. In Connecticut, it is customary for all parties to the transaction to be represented by an attorney.
The purchase of a house will require that you enter into a legally binding contract with the seller of the property. A real estate attorney would be involved to explain how the contract affects the party's rights and what legal obligations it imposes.
Most lenders of mortgages have an attorney to represent it in the closing transaction. Typically, that lender's attorney will also offer to represent you as the borrower for a small additional fee, as is often the case in Connecticut.
Sometimes, the lender will not have its own attorney. In that case, the attorney you select to represent you will also represent the lender in the preparation and execution of the mortgage documents.