how to learn how to be a realestate closing attorney

An aspiring real estate closing attorney must take and pass the bar exam. There are some strict educational requirements in order to become a real estate closing attorney. For example, in the United States, you must have at least a bachelor's degree along with a Juris Doctorate

from an accredited law school.

Full Answer

Why do I need a real estate attorney for my closing?

Oct 27, 2010 · Complete elective classes about real estate. Law schools may offer elective courses specifically designed to prepare students for practicing real estate law. These classes may cover topics like real estate transfers, environmental law and land use planning. Complete a clinical experience.

What are the questions to ask a real estate closing attorney?

Description. Learn what you need to know to take a real estate deal from start to finish including: Understanding who your client is and how that affects the Deal. What are the terms of the deal. The role of the real estate broker. Proper communication between parties.

Do I need a real estate background to administer a closing?

Jul 15, 2019 · Working knowledge of current real estate law is key to a successful, smooth closing. Quality real estate attorneys keep up with the latest changes so there are no surprises when you get to the closing table. In addition to a deep understanding of the real estate world, your attorney should be a good communicator. If problems or questions arise, they should …

What do you get with a real estate closing course?

To give real estate industry personnel (brokers, salespersons, etc.), attorneys (everyone assumes you have the knowledge to do a closing immediately after graduating from law school, now you will be able to assist your family or friends with their closing) and lay persons a better understanding of what takes place at closings – to facilitate the closing process and also to …

Why is it important to have an attorney for a closing?

A real estate attorney ensures that everyone understands the complex legal process that real estate closings are, and that everything is above board.

What documents do closing attorneys need to go over?

The closing attorney can offer explanations for any confusing documents, such as the deed, settlement statement, and loan documentation.

What is clear title?

A clear property title is essential for the buyer and lender in a real estate closing. Once the purchase agreement has been received, we can begin examining the title. For the sake of the buyer, we will evaluate the restrictions, encroachments, easements, and whether the title clearly allows the seller to transfer it to the buyer. We will then identify if there are existing mortgages on the property that must be satisfied in order to transfer the title over. For the sake of the lender, we will create an overview of any judgments, mortgages, or liens in existence that must be settled before closing. Any concerns about the status of the title are addressed during this process.

Why is title insurance important?

Title Insurance. Title insurance is important because if there is a problem with the title in the future, it protects the buyer and the lender. After the title examination, your real estate attorney from De Bruin Law Firm writes an opinion about the title for the title company so they can issue a title binder, which is necessary for obtaining title ...

Who coordinates the closing of a home?

The real estate closing attorney also coordinates all of the parties involved in the closing. This means that the attorney must communicate with the buyer, seller, and lender, and any additional players, such as brokers, surveyors, the homeowner’s insurance company, home inspectors, contractors, homeowners’ associations, and more.

Who is Bryan DeBruin?

Bryan De Bruin is a Real Estate and Business Law attorney serving Greenville, SC and the surrounding upstate. Bryan is proud to guide clients through the legal process and makes sure that every client understands each phase of their case, so that they are prepared for what happens next.

Is title insurance required for a first lien?

Title insurance is absolutely essential for the lender because they must assure that it is in the first lien position of the property, but it is optional for the buyer. However, it is best to go through with title insurance, given that it is relatively inexpensive and protects the buyer’s rights to the property.

What are the responsibilities of a buyer's attorney?

Responsibilities of the buyer’s attorney: time limits; ordering title; guiding a client to obtain financing and using mortgage brokers. Responsibilities of the seller’s attorney: time frames; clearing title; ordering payoff letters; preparing deeds; negotiating short sales. Setting the closing.

Who is Peter Wagner?

Peter is a member of the Nassau County Bar Association, the New York State Bar Association and the American Bar Association, where he serves as a member of the Financial Services committee. Peter has participated as an associate member of the American Association of Residential Mortgage Regulators (AARMR), the Mortgage Bankers' Association of America and National Home Equity Mortgage Associations' Legal Affairs committees. For over 15 years, Peter has represented consumers, as well as financial institutions in the mortgage and automotive finance industries, by providing compliance, legal and business advice, including drafting and implementing policies, procedures, best practices and government affairs initiatives. Peter has lectured on mortgage financing, credit scoring and predatory lending for the National Urban League, the Marino School of Continuing Legal Education, local schools, faith-based organizations and other not-for profit organizations. In his spare time, Peter is an avid fisherman and soccer coach. He is on the Board of Directors of the Commack Soccer League.

Who is Bill Horan?

John`s University. He is a member of the Nassau County and New York State Bar Associations, and serves as chairman of the paralegal subcommittee of Nassau Community College. For the past 25 years, Bill has represented lenders in legal matters regarding real estate and regulatory and compliance issues. Bill has lectured on real estate and mortgage financing for the Nassau County Bar Association, Suffolk County Bar Association, Rockland County Bar Association, New York County Lawyers Association, Orange County Board of Realtors, National Business Institute, Marino School of Continuing Education, C.W. Post College and Nassau Community College. Bill has been interviewed on several radio shows and television programs, and for the past 20 years, he has hosted his own show, The Secrets of Success, on WHPC 90.3 FM.

Who is Nan Gill?

A seasoned professional in the Title Insurance Industry for nearly three decades, Nan Gill-Wilson established Gill Abstract Corporation in 1984 to better serve her loyal clientele. What began at a desk in her living room quickly grew into a thriving business. In September of 2011, Nan joined forces with Sutton Alliance, LLC. This merger made it possible to service her clients throughout the U.S. and added a staff of over sixty professionals to the organization. After more than a quarter century heading Gill Abstract Corporation, she decided to take her impressive history of business successes to expand into the entertainment industry. Nan possesses an extremely broad knowledge of business management, banking and credit management, real estate, titles, bankruptcy, foreclosure law, mortgage requirements and other business and legal acumen that will facilitate her ability to excel in the field of entertainment. Born in Queens, NY, Nan spent her early years in NYC, Pennsylvania and Northport, LI. She attended college at the State University at Albany. Prior to entering real estate, she ran a school for the performing arts in Orange County, NY. As a teen, Nan created the promo tape for then President John F. Kennedy’s Physical Fitness Program that premiered at the New York State Pavilion of the World’s Fair in 1964. She subsequently became a model at the prestigious Ford Agency. A major supporter of continuing education throughout her life, Nan teaches title insurance CLE classes for the Marino Institute in Manhattan, as well as the NYCLA, the Rockland County Lawyers Association, the Suffolk County Bar Association, the Women’s Bar Association of Orange and Sullivan Counties, the Rockland County Bar Association and the Orange County Association of Realtors. She continues to hold an Associates Broker’s License with Keller Williams in Goshen, NY. Mrs. Wilson also holds seat on the board of the American Science and Technology Center of New York and is Executive Director of the ‘Acting Anyone Academy’, an educational entity established with her business and life partner, David Patrick Wilson, committed to providing a well-trained, highly-skilled professional workforce for the American entertainment industry. She had previously been the founder and co-owner of Educational Video Productions, Inc. (EVPI) and The EVPI School of the Performing Arts in Warwick, NY. She is presently co-owner and President of Willy-Gilly Productions, Inc. and Executive Producer of the feature film Collar.

What is the best way to handle a real estate closing?

When the going gets tough or an unexpected problem arises, a well-experienced real estate attorney is the best means for handling the case.

What is a home investment?

Unlike a car, a home investment is one that will appreciate over time and allow you to gain equity in your home. While your real estate professional will guide you through the buying process, it’s your real estate closing attorney that will guide you through the closing. This is when the home officially transfers ownership ...

How many homes were sold in 2017?

Did you just take the leap into homeownership? In 2017 alone, there were over 5.5 million existing homes sold in America. While purchasing a home has proven to have its challenges, it’s also incredibly rewarding. In fact, becoming a homeowner may be one of the best financial decisions that you’ll make in your lifetime.

Do you want to know who is working on your case?

When it comes to your specific case, you’ll want to know exactly who is working on your case. It’s important to consider that many successful attorneys will accept your case only to pass it along to a less-experienced attorney.

Is closing date important?

Your closing date is arguably the most important date throughout your real estate transaction. However, the time before closing is also incredibly important. That said, it’s helpful to have a firm understanding of what takes place prior to closing. Don’t hesitate to ask your attorney questions such as:

Questions for a Real Estate Attorney

Since buying real estate is likely the biggest investment you’ll ever make, you need to make sure all your bases are covered. In your search, make a list of essential questions that you should ask everyone you talk to.

How long have you been practicing?

Find out how long the attorney has been working in your area. For residential closings, a few years should suffice. For bigger transactions like commercial real estate or investment property, you want an attorney who’s much more experienced.

How do you handle closings?

Tell the prospective attorneys about your particular situation. Then, ask them what they would do and what their typical procedures are. Knowing how they would plan to deal with things in advance will give you confidence and peace of mind.

What about fees and billing?

Some attorneys require a retainer up front and then bill you the balance later. Ask them what their rates are, and how much they think your individual situation would cost. With so many fees involved in real estate transactions, you need a firm price so you can add the attorney to your budget.

Will there be others working with us?

Some law firms rely on other attorneys and paralegals to work on their cases behind the scenes. Ask if other people will be involved in the transaction or if you can expect to simply deal with one attorney directly.

Knowledge is Power

There are several important things that every good real estate attorney should know. Read more about that so you’ll be aware of the intricacies involved in a real estate closing.

Attorneys and Your Success

Once you’ve done the legwork, you should have no problems finding a reliable, quality real estate attorney who can help with the closing process. Be sure to check reviews and ask the right questions so your transaction will be a success.

Course Objectives

To give real estate industry personnel (brokers, salespersons, etc.), attorneys (everyone assumes you have the knowledge to do a closing immediately after graduating from law school, now you will be able to assist your family or friends with their closing) and lay persons a better understanding of what takes place at closings – to facilitate the closing process and also to provide practical knowledge on how to do closings as a closer for a title company, should the need arise at a closing or should the student wish to enter into that part of the real estate process as part of their livelihood.

About The Instructors

Instructor: NYC and Staten Island locations - H. Richard Adelman, a title ins. agency owner with over 3 decades of experience doing closings as a title closer, bank settlement representative, etc. He has taught title-related classes at SIBOR (Staten Island Board of Realtors) and for several years at NYU.

What is closing a real estate transaction?

Real estate closings are a complex process that requires a large amount of preparation and skill. If, at any time, you feel unsure of what you are doing or feel like you are over your head, consult a real estate agent or attorney to help you.

What should be included in a closing agreement?

All you need to include are: The date of the agreement, the agreement's expiration date, and when the transaction will close. This should include rights of inspection and who pays for such, if any, costs. The price of the property and the means ( cash, check, etc.) that amount will be paid.

What is an escrow account?

Open escrow. An escrow account is an account held by a third party on behalf of the two parties involved in a transaction. An escrow account is the best way to assure both the buyer and the seller get a fair deal regarding the transaction.

What to do if an escrow agent is suspicious?

If the agent is worried you're suspicious, he may offer to waive or reduce the fees. Escrow agencies want to maintain a solid reputation and do not want buyers and sellers complaining to others in the real estate world of junk fees. ...

What is a short opening statement?

A statement that entitles the owner to the property, basically a short opening statement saying the time and date the buyer gained ownership of the lot or house. A list of property rights from one person to another, that is what rights the buyer does and does not have regarding how he or she uses the property.

How many people edit wikihow?

wikiHow is a “wiki,” similar to Wikipedia, which means that many of our articles are co-written by multiple authors. To create this article, 14 people, some anonymous, worked to edit and improve it over time. This article has been viewed 129,802 times.

How many pages are there in a real estate closing?

Real estate closings can be complicated. There may be over 100 pages of paperwork. While you do not have to read everything, make sure things like interest rates, down payments, closing costs, and your rights are what you agreed upon during the closing process.

What is closing in real estate?

A real estate deal is generally a long and stressful exercise that involves many steps and procedural formalities. Closing occurs when you sign the papers that make the house yours, but before that fateful day arrives, a long list of things has to happen. This article describes the 12 steps that must be taken between the moment your offer is ...

How long does it take to close a house?

Closing on a home can take from a week to 60 days, depending on the property type and whether you are paying cash or financing the purchase. 1 . 12. Understand the Paperwork. Paperwork is critical to closing a property deal.

What is escrow account?

An escrow account is held by a third party on behalf of the buyer and seller. A home sale involves multiple steps taken over a span of weeks. Therefore, the best way to prevent either the seller or the buyer from being cheated is to bring in a neutral third party.

What is earnest money?

Earnest money is a deposit made to a seller indicating the buyer’s good faith, seriousness, and genuine interest in the property transaction. If the buyer backs out, the earnest money goes to the seller as compensation. If the seller backs out, the money is returned to the buyer. 9 

What is junk fee?

4 . Junk fees are charges that a lender imposes at the closing of a mortgage, which are often unexpected by the borrower and not clearly explained by the lender.

How long does it take to complete a real estate transaction?

Real estate deals are generally completed over a span of weeks and have many moving parts. Deals start with opening an escrow account and end with a final walk-through before signing on the dotted line. The complexity of real estate closings is a good reason to hire an attorney to guide you through the process.

What to do if your offer has already been accepted?

Even when your purchase offer has already been accepted, you may want to renegotiate the price to reflect the cost of any necessary repairs revealed by inspections. You could also keep the purchase price the same, but try to get the seller to pay for repairs. Even if you're purchasing the property "as is," there is no harm in asking. You can also still back out without penalty if a major problem is found that the seller can't or won't fix. 8 

Title Examination

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Title Insurance

Coordination

Review of Documents

Record and Disbursement of Funds