A Trusted Providence Real Estate Lawyer For Home Buyers And Sellers
Buying a home is a major milestone in life. At the Law Offices of Lawrence J. Signore, our lawyer guides homebuyers through the real estate closing process with care and attention to detail. Attorney Lawrence Signore looks for any potential problems when performing title searches and reviewing the home inspection report, and he works to swiftly resolve issues that arise. His mission is protecting our clients’ investments so that they can enjoy life in their new homes.
He also advises home sellers to ensure that no unwanted surprises lead to unnecessary liability issues.
A Skilled Attorney For Researching Property Value And Title Issues Before Closing
In Rhode Island, the buyer has the right to choose a title attorney, though the seller will often have a lawyer present. Our attorney can represent the buyer or the seller in these transactions. When clients choose our firm, they can expect his dedicated assistance with any of the following:
- Transaction contracts: The provisions of a home sale are detailed in a contract signed by both the seller and buyer. The contract outlines each party’s legal responsibilities as well as the ways in which the transaction agreement can be invalidated. It is wise to have an attorney review the contract before you sign it.
- Disclosures: Sellers must disclose any flaws or issues with the property so that the buyers have a full understanding of the condition of the home they are obtaining for the agreed-upon price. Our lawyer meticulously reviews these disclosure forms, looking out for anything alarming or troubling.
- Initial inspections: The initial inspection is a crucial part of the closing process, as it informs buyers and sellers alike of the true state of the property. An inspection report can help buyers determine whether they will need to put extra money into repairing or maintaining the property.
- Title searches: A title search reveals whether there are any previous claims on the home title, such as liens for unpaid property taxes or home repair bills. A seller may not know about issues with their home title, so the title search is essential to give buyers a clear understanding of what they’re getting into.
Attorney Signore can address your concerns about the mortgage process as well. The many steps it takes to secure financing for your home purchase can be frustrating. If you need more time than the financing deadline that you agreed to in your contract, he can help you request an extension from the seller.
Our Lawyer Facilitates Smooth And Timely Property Sales
On the actual closing date, the buyer and seller come together to complete all final paperwork and exchange payment and keys. Attorney Signore will be by your side throughout the process.
Once the transaction is complete, he can file the necessary documentation to record the sale with the proper municipality. If any unexpected problems come up, he will pursue solutions aimed at protecting your personal and financial interests.
Real Estate Transaction Questions Answered
Whether you’re purchasing a home or a commercial property, you likely have a lot of questions that demand answers. Our attorney can provide you with the information you need. Below are answers to some of the most common questions he receives.
How long does a typical real estate closing take in Rhode Island?
The typical timeline for a real estate closing is 30 to 60 days, but that’s only if everything is going smoothly. Unexpected challenges and basic setbacks can vastly extend the closing date.
The process can take longer if the other party is slow to respond, there are problems with the inspection or another challenge pops up. But, our committed lawyer and staff will see you through.
Can I back out of a real estate purchase in Rhode Island after signing a contract?
It is possible to back out of a real estate purchase after signing the contract, but it is not without challenges, risks and major consequences. First, there are only a few scenarios in which this is possible They include the following:
- Financing falls through
- Inspections fail
- Appraisal errors occur
Second, when you try to back out of a contract, you may be pursued for breach of contract. This is a serious, expensive issue. If you find yourself in that situation, you can work closely with our real estate attorney to minimize the fallout from such an action.
How does Rhode Island’s property transfer tax work?
In Rhode Island, the property transfer tax is called the real estate conveyance tax. The state places a tax rate on the sale price of the property, which is usually paid by the seller.
Our real estate attorney can talk to you about the potential rate for your sale, which can vary from town to town.
Contact Us Today
Our lawyer is here to help with your real estate closing. To schedule your free consultation, please call the Law Offices of Lawrence J. Signore at 401-273-3000 or complete our contact form. He advises and represents clients in Providence and throughout Rhode Island. Se habla español.
