Keys to a Successful Luxury Real Estate Transaction: Part II

Part II: Be Prepared for Closing

After luxury real estate attorneys have reviewed the contract, a checklist of items required for the sale can help prepare for closing. Some of the most important items on a checklist may include title information, conditions regarding the property, financing, closing documents, and dates. Closing does not have to be a difficult process, but not properly preparing may lead to headaches.

A title insurance commitment should be prepared. A commitment contains a list of requirements that are conditions to the issuance of a title policy and a statement of any exceptions to title. An experienced real estate attorney can assist their client in determining the acceptance or objection to title. Additionally, an attorney may be able to help in curing any defects with title.

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Part I: Have an Experienced Real Estate Attorney Review the Contract

Mistakes in real estate contracts can cause major issues. A proper review of the contract can provide useful information to the parties involved. One of the first steps that should be taken to help a real estate transaction run as smoothly as possible is having luxury real estate attorneys review the contract. An experienced real estate attorney can review the contract to make sure parties are protected in the transaction. Although an attorney is not required for a real estate transaction, having knowledgeable professionals represent each party’s best interests may help prevent issues from arising in a luxury real estate transaction.

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