Role of the Attorney

Attorneys play different roles in real estate transactions. One attorney is the bank attorney paid by the buyer as part of the closing costs. The buyer may also have their own attorney, however this is optional.

Bank Attorney
  • Conducts a search of the title

  • Reviews documents, such as the smoke detector certificate and insurance binder

  • Orders the Plot Plan

  • Obtains Bank’s Title Insurance

  • Prepares loan closing documents

  • Schedules the date and time of the closing

  • Disburses all funds, i.e. to Sellers, brokers, municipal taxes, etc.

  • Provides you with the HUD 1 Settlement Statement

  • Records new deed and mortgage at the Registry of Deeds

Buyer’s Attorney
  • Fee is paid by the Buyer and is not part of the closing cost

  • Reviews the offer and Purchase and Sale Agreement

  • Advises you on any issues

  • Interacts with the Bank Attorney and Sellers' Attorney

  • May attend the closing