Buyer and Seller Representation
In addition to our traditional title closing services, the attorneys at Strock & Cohen, Zipper Law Group, P.A. represent buyers and sellers who have been prohibited by contract from selecting their own title closing agent.
WHO IS REPRESENTING THE BUYER IN AN REO OR SHORT SALE PURCHASE?
In today’s fast changing real estate climate, when the banks (REO properties), investors, or short sale sellers control all of the settlement services, who is looking out for the Buyer’s contract rights and best interests. These contracts require long and complex addendums that frequently are not well drafted and contain conflicting provisions. Who else is best suited to explain these documents to the Buyer than an experienced real estate attorney?
Our firm works with professional Realtors® and provides the Buyer with representation from the beginning of contract negotiation and throughout the closing to protect the client’s interest and to explain all of their options, rights, and obligations under the real estate contract and the REO/ short sale addendum. We also review the title process in order to make the best effort that the Buyer gets a property with no title defects, liens, violations or open permits and that no fraud is being committed that could cause liability in the future.
Those real estate agents, lenders, mortgage brokers, investors and other real estate professionals who select Strock & Cohen, Zipper Law Group, P.A. as part of their team will find that the advice and counsel of knowledgeable attorneys are invaluable and essential in this complicated and changing time.
WHO IS REPRESENTING THE SELLERS’ INTERESTS?
Short sales create an additional set of legal difficulties for an already complex closing process. Short sale sellers have the additional burden of determining whether their Lender is releasing them from further liability on their debt and whether it is in their best interests to close on the sale. The parties need to comply with specific directives from the short sale Lender that often conflict with the short sale second Lender’s instructions and even with the Buyer’s Lender’s closing instructions. Failure to properly comply can lead to civil and even criminal liability if not overseen by an experienced real estate attorney.
Our firm works with the Seller and all parties to the transaction to insure that the Seller understands the transaction and its implications, is complying with all Lender instructions and legal requirements, and that the Seller’s closing documents and closing statement are prepared exactly according to the requirements of the contract and the law.