Monday, December 12, 2011

What are the duties of a closing lawyer?

If I have a problem meeting my closing date in a real estate transaction, because my mortgage company made a mistake, is that covered by the duties of the closing lawyer or do I have to pay the lawyer additional fees above the closing costs.|||Is what covered? What do you want the lawyer to do about it? Negotiate with the mortgage company? Contact the other party about an extension?





The duties of the closing lawyer are spelled out in the written agreement you have with the lawyer. They are not the same in all cases, in all states. But generally, the closing lawyer simply makes sure all of the documents and funds are assembled and ready to go on closing day, and then attends the closing and makes sure everyone signs everything to complete the deal. It is really just a matter of checking everything off the list. It is up to each party to get the documents/funds to the closing lawyer, not for the closing lawyer to chase them down.

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