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Do You Need a Closing Attorney in Columbia, SC?

January 24, 2022

: Real Estate

If you’re looking to buy or sell a home or commercial property, you know that it’s a pretty complicated process. And with a lot of money and assets exchanged in the process, you want to do everything you can to ensure things go according to plan. 

For this reason, many homeowners and business owners choose to hire a real estate lawyer to help with closing. In fact, it’s even required in some states. Let’s take a look at whether closing attorneys are required in Columbia, SC, and what benefits they can bring to your real estate transactions. 

Do You Need a Closing Attorney in Columbia, SC?

Yes, South Carolina is one of the few states that requires a licensed closing attorney. They’ll handle many major components of the closing process and work with you to ensure the transaction goes smoothly. This requirement is applicable to both residential and commercial real estate transactions. 

The Role of a Closing Attorney in a Real Estate Transaction 

A Columbia real estate lawyer has many functions that help buyers and sellers during the closing process. We’ll outline their main five responsibilities below: 

  • Gather necessary information from buyers and sellers (mortgages, deeds, loan payoffs)
  • Supervise the title search, commitment, and insurance
  • Communicate with both parties to agree on a closing date and time
  • Instruct both parties on what needs to be accomplished and signed
  • Supervise the escrow process and disbursement of funds

From these responsibilities, you can tell that having a lawyer is imperative to the success of the transaction. They’re truly there to help you throughout all stages of the process, leaving you with peace of mind that all of your assets are protected. 

3 Benefits of Working with a Closing Attorney in Columbia, SC

Yes, closing attorneys are required by law in Columbia, SC — but they’re also just nice to have. That requirement is there for a reason: they’re knowledgeable professionals who will help reduce the risk of something going wrong during the process. Even homeowners who live in states that don’t require them still choose to hire them. Here’s a little insight as to why:

1. A Closing Attorney Will Ensure All Documents Are Organized and Accurate

There are so many documents involved in real estate transactions. Just for the closing process, there are at least nine that need to be reviewed and signed. 

Luckily, your South Carolina real estate lawyer will keep track of them all. They’ll also read them over line-by-line, ensuring that they’re accurate and that they offer comprehensive legal protection. All you have to do is sign where they tell you to and ask questions when you have them. 

2. They’ll Help You Work Through the Legal Jargon

The real estate industry is full of confusing documents and legal jargon — most of which you won’t have time to decode, and your real estate agent won’t think to decode for you. With a South Carolina real estate lawyer, you’ll get to work alongside a professional with a robust knowledge of the industry. They’ll go through all documents to make sure they serve your best interest, and they’ll help you make sense of it. 

3. They’ll Negotiate to Get You the Best Deal Possible

In many real estate transactions, buyers want to negotiate repairs after the inspection comes back with issues. By working with a South Carolina real estate lawyer, you have a trained negotiator on your side. They can help you save thousands of dollars in repairs, so you’re not paying anything more than you need to. 

Trust the Columbia, SC Real Estate Lawyers At Bernstein & Bernstein

Bernstein & Berstein’s real estate lawyers have the experience to facilitate your home closing and/or commercial real estate transactions in South Carolina. Give our office a call or contact us online to further discuss the details of your upcoming sale or purchase, as well as how we can help you with it. 

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