Selecting Your Lawyer and Securing Your Loan

books sit on a staircase

If you have already worked with a lender or a Mortgage Advisor (as discussed above), the next steps can move forward without delay.  If you have not, valuable time may be lost while you begin the loan qualification process.  Remember:  the sellers are free to accept any other offers and to reject your accepted offer up through the end of the attorney review process.  The best advice:  be prepared to move forward once you have a pending offer and waste as little time as possible.  This means that you should begin to work with your attorney as soon as possible as well. 

If you do not already have an attorney, your real estate agent can recommend several.  This person should first and foremost be someone who primarily practices real estate law, and secondly, who is familiar with the area you are buying into and its particular rules and regulations.  Your attorney will guide you through the possible revisions of the contract, the home inspection process, the Title Search and any other communications you may need to have with the sellers during the attorney review. 

Once attorney review is concluded, each party is obligated by the terms of the accepted contract and you are moving toward your closing date.