REAL ESTATE

The most important document that you sign, a purchase contract, is the document that defines the obligations and responsibilities of the Buyer and the Seller until the closing occurs. In South Carolina, an attorney is required to supervise the title search, preparation of the loan documents, the closing and recording the documents. Along the way there are decisions that you must make that will affect your home ownership. The right to choose the closing attorney
belongs to the Buyer and not the agent, seller or lender, so you have the right to choose any attorney, even if a list is provided to you.

The most important document that you sign, a purchase contract, is the document that defines the obligations and responsibilities of the Buyer and the Seller until the closing occurs. You should know that the closing attorney is representing the Buyer and the Lender and may have ties to the real estate agent. The seller is required to execute and provide several legal documents at closing as well, so as the Seller, you should have your own competent legal counsel.

A short sale is defined as the Seller is attempting to sell his property for less than the total amount of liens that are attached to the property. Typically, this involves one mortgage, but it can involve more than one mortgage as well as additional lien holders. The process does not begin until the contract has been signed. It is then submitted to the lender for their consideration. It may be accepted or require additional negotiations before a deal is made that the lien holders will accept.

The process can be very long and emotionally challenging for all parties. The seller may remain responsible for the deficiency amounts owed after closing. Particularly with such complicated real estate matters, all parties should have their own legal counsel to guide them through this process.

In South Carolina, an attorney is required to supervise the title search, preparation of the loan documents, the closing and recording the documents, even when you are refinancing. These documents have legal consequences with which you should be comfortable, and you should have trust in the attorney representing you.

If you are modifying your loan, it generally means that your account is delinquent. The process may be cumbersome and slow, and the lender may cause you to unknowingly make mistakes that could cause you to lose your home. All documents received by you should be reviewed by your attorney to prevent any mistakes being made.

Losing your home is an emotional and tragic event that will understandably cloud your judgment. Decisions must be made that could affect your financial situation for years to come. If your loan goes into foreclosure, before deciding how to proceed, all documents should be reviewed by your attorneys.

Property bought at a tax sale does not guarantee title and by the very nature of the transaction a suit will need to be filed after you receive the tax deed. We recommend that you allow us to examine the title to any property you are considering purchasing at a tax sale.

Heir property is created when property is passed from generation to generation without estates being administrated or probated. You will need an attorney that is familiar with adverse possessions statutes and knowledgeable in this area to file suit on your behalf. The attorneys at Brush & Lanning have been clearing titles for more than thirty years.

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