You can choose the attorney or law firm that you want to represent you in the purchase of your home! This is a very important decision and if you have an attorney or law firm in mind you need to immediately notify your real estate agent and/or lender of your choice. You need to do this because in some closing transactions the buyer has to include their choice of attorney in the actual Offer to Purchase contract in order to have said attorney handle the closing for buyer. For example, if you are buying a home from US Department of Housing and Urban Development (“HUD”) they will most likely try to dictate that you, the buyer, must close with HUD’s approved attorney. In order to use your choice of attorney in a HUD closing you need to have your agent include the attorney or law firm in the Offer to Purchase. The language needed to be added to the contract can be as simple as “The closing shall take place at the law firm of Conrad Trosch & Kemmy, P.A.” Once the contract is signed you have effectively guaranteed that you will be able to use the attorney of your choice.
As a buyer you need to be aware that in some circumstances sellers will try to induce you to use their closing attorney. This happens often when buyers are purchasing a home from a builder. The builder or their lender will offer to pay a portion of your closing costs if you agree to use builder’s closing attorney. While saving money on closing costs is enticing, you need to be aware that the builder’s attorney represents the builder and NOT YOU! Therefore, if you are concerned about making sure your interests are protected at closing, YOU NEED TO CHOOSE the closing attorney. If you still want to take advantage of the builder paying your closing costs you can agree to close the transaction with seller’s attorney and at the same time hire your own attorney to review all of the closing documents prepared by seller’s attorney. This way, you get the benefit of a portion of your closings costs being paid along with the added benefit of having a licensed North Carolina attorney representing your interests in the closing. The benefit received from hiring your own attorney will far outweigh the very small fee that most attorneys would charge to review the closing package prepared by the builder’s attorney. As the purchase of your home has the potential to be the largest, most expensive purchase of your life it makes all the sense in the world to either (1) choose the closing attorney who will represent your interest at the closing or (2) hire your own attorney to represent you even if that attorney is not acting as the closing attorney! When you get ready to make the purchase of your new home, remember that you CAN choose the closing attorney and remember that Conrad Trosch & Kemmy, P.A. is ready to assist you in any way we can.