What is the benefit of hiring a real estate attorney rather than a title insurance company?
August 1, 2024 – Matthew S. Akers & Douglas McCarthy
There are definite benefits to hiring an attorney versus a title insurance company, when it comes to real estate transactions.
First, title insurance companies are never allowed to give legal advice to their clients. Attorneys, however, can and do advise their clients on the legalities of their transaction or their contract. It can often help work them through issues that might arise between the different parties. A title company is barred from involvement in such things, and it is forbidden for them to provide legal advice.
Real estate attorneys can oftentimes find creative solutions for a deal that’s falling apart, which happens frequently with closings. They also have a level of knowledge and understanding of real estate transactions that goes far beyond what a company could offer.
More often than not, title companies end up coming to us for advice and guidance, since we have the knowledge and understanding to make things happen. We have access to the court systems, which helps if title reports need cleaning up or if there’s a sticky situation with an estate. We understand how to go to the court and clarify the title so the process can move forward. By creatively using deeds and the law, we can move things forward or create contracts before and after the closing. This helps the parties effectively pursue what they bargained for with the deal.
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