(419) 353-4200
BOWLING GREEN REAL ESTATE ATTORNEY

Attorneys at Groth & Associates provide numerous services to both buyers and sellers in residential and commercial real estate transactions. We review, prepare and negotiate offers to purchase and purchase and sales agreements for both parties. If any issues arise during the executory contract period relative to the title examination, the inspections, or the mortgage, we work to resolve the disputes and dilemmas so the deal will close on time to the satisfaction of all parties involved. We conduct closings in our office and nearby real estate brokerage offices when we represent the buyer. During our representation for the seller, we prepare deeds and supplemental documentation, and travel to the closing location to attend the closing ceremony. There are a few typical questions regarding real estate transactions below. Please contact the attorneys at Groth & Associates for further questions.


What is title insurance? How much does it cost? Should I buy it?


Owner's title insurance protects the buyer of a property against undiscovered liens or defects in the title prior to the time of purchase. Title insurance insures the record title and protects an owner of property from losses arising from defects occurring prior to the date of the policy. Therefore, it differs from other types of insurance because it is retrospective in nature. It also differs from other types of insurance because there is only a single premium charge for title insurance, but the protection lasts for as long as you own the property. There are different title insurance policies, which protect both owners and lenders. Lender's title insurance performs the same purpose, but only for the lender in a transaction.


What type of claims are covered by Owner's Title Insurance?


The owner's title policy insures against loss or damages sustained by the owner by reason of historical discrepancies such as forgery, undisclosed but recorded prior mortgages, bankruptcies, liens or divorces, deeds not properly recorded, missing wills or heirs, and inadequate property descriptions.


Why do I need an attorney for a closing?

An attorney should always be present at a closing to answer legal questions and to resolve disputes. Most lenders require the presence of an attorney at all closings. You should always insist on an attorney instead of a title company, as we will help to resolve the problems which arise, and will not limit our scope to merely searching the title.


What happens if the house is not ready for me to move in on the day of closing?

If the house is not in the proper condition to move in at the time of closing, you will need to consult with an attorney. At our firm, if we are handling the closing, we will always strive to help the buyer with the predicament. Options include postponing the time of closing, giving a buyer credit, or escrowing funds from the seller until the property is in the proper condition.


What form of money should I bring to the closing?

Buyers should bring a bank check or certified funds to closing. If one of these options is not available, buyers should make arrangements to wire funds directly to the closing attorney at least one business day prior to the day of closing. If verifiable funds are not present at the time of closing, the recording of the documents will be delayed and the buyer may not be able to move into the new home.