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HKQ Firm News

AN ATTORNEY CAN HELP YOU WHEN BUYING OR SELLING A HOME

HKQ Real Estate Lawyer Joseph E. KlugerFor most people, purchasing a home is one of the largest and most important investments they will make in their lifetime. It can be a daunting undertaking with its complicated procedures and complex legal documents. Fortunately, Joseph E. Kluger, Attorney at HKQ Law points out, “An attorney can help simplify the process, and protect your interests.” While real estate brokers/agents and lenders have a vested interest in closing the sale, they are not permitted to provide legal counsel.

A real estate attorney can objectively review all pertinent documents on the buyer’s behalf. One of the first documents a buyer may encounter is a buyer-broker contract, which defines the responsibilities of the broker/agent to you as well as the buyer’s responsibilities to the broker/agent.

The single most crucial document in the transaction is the purchase agreement. Although standard printed forms are often used, an attorney is helpful in explaining the contents of the document, and making changes or additions to reflect the buyer's desires. The preprinted form is sometimes deemed “seller-friendly” and simple modifications, when appropriate, may better protect the interests of a buyer.

A title search is an important part of the process. The purpose of the search is to determine if there are any financial liens or claims of ownership to the property beyond the seller’s ownership, or any other title issues that may adversely affect the interests of the property owner.  A real estate attorney can review the title search and see if they are any potential issues such as problems with adjoining owners or prior owners. The attorney can also explain the effect of any existing easements, covenants, or restrictions, as well as any future ramifications of zoning regulations.

To protect buyers from claims or liens that may be discovered after the purchase is complete, title insurance can be purchased. Not only is title insurance generally required by mortgage lenders, but Richard Williams, another estate lawyer at Hourigan, Kluger & Quinn states that “We strongly urge all buyers to obtain title insurance in the acquisition of any property.”

Mortgage financing has become increasingly complicated based upon regulations. The real estate team at HKQ is poised to assist you in simplifying the process by explaining what documents may be required, the typical time for loan approval, and the documents that will need to be signed at closing to complete the financing.

The closing (also known as the settlement) is the final step in the home purchase process. An attorney can explain the nature, amount, and fairness of closing costs, and assure that the deed and mortgage instruments are appropriately executed. At the closing, last minute disputes may arise. If you are not represented by an attorney, your rights could be at risk.

Legal Help For Sellers.

A real estate attorney can help a seller understand the often complex legal documents involved in the sales process. They include a listing contract, a Seller’s Disclosure and brokerage agreement.

Without a carefully crafted brokerage agreement, a seller may be liable for a brokerage commission even if a sale does not occur. Or, the seller may be required to pay more than one brokerage commission. A real estate attorney can explain the ramifications of multiple listings. The attorney can also negotiate the realtor's rights if the seller withdraws the property from the market, or can't deliver a good “marketable title”. Time parameters of the contract, fee structure and agency arrangements are all concepts that should be reviewed with an attorney before signing a broker agreement.

The all-important Purchase Agreement should be reviewed to make certain that it best meets the seller’s needs. An attorney can recommend beneficial changes or additions to the agreement.

A seller will need a deed prepared for the sale of the property. Attorney Brian Stahl in HKQ Law’s real estate department says “The paralegals and lawyers at HKQ Law have prepared thousands of deeds over the years for our law firm’s clients.”

The title report should be reviewed by a real estate attorney in order to identify any legal issues which may delay a sale. If a problem is found, the lawyer will work to address it prior to the sale.

At the closing, an attorney can help the seller negotiate any sudden changes that may enter into the agreement and ensure that the distribution of the sale proceeds are handled appropriately.

HKQ Real Estate Lawyer Richard Williams HKQ Real Estate Lawyer Brian Stahl

Matters Handled By The Real Estate Attorneys At HKQ Law Include:

  • Acquisition and sale of commercial and residential property
  • Closing services for real estate acquisitions and sales
  • Deed preparation
  • Drafting, review and negotiation of purchase agreements and finance documents
  • Review of easements, right of ways, covenants, conditions, and private road agreements
  • Preparing Installment Sales Agreements
  • Land use and zoning requirements
  • Quiet title actions
  • Drafting leases
  • Preparing or reviewing the purchase agreement
  • Providing or reviewing seller's required disclosures
  • Title search and title insurance
  • Review of mortgage lending commitment and loan documents

To discuss how the real estate team of attorneys and paralegals at HKQ Law may be of service to you, call us at 570-287-3000 to schedule your consultation.

About Hourigan, Kluger & Quinn, PC

Hourigan, Kluger & Quinn is considered one of the top civil litigation and commercial law firms in Northeastern Pennsylvania. The firm’s Personal Injury Team, led by Attorney Joe Quinn, has won some of the largest verdicts and settlements in the region's history, totaling over a half billion dollars on behalf of injured clients. HKQ Law was recently recognized for one of the top 20 Verdicts in Pennsylvania, 2015.

The Personal Injury Team focuses on a wide array of personal injury claims and civil litigation, including medical malpractice, auto and truck accidents, aviation accidents, unsafe vehicles, dangerous or defective products, workplace injuries (worker's compensation), construction site accidents, claim denials by insurance companies, dangerous drugs, defective children's products, nursing home abuse and neglect, and falls due to unsafe conditions (slip and fall).

Attorney Joseph A Quinn is one of only 100 attorneys in the United States (and one of only three in Pennsylvania)
honored with membership in the Inner Circle of Trial Advocates, and one of only 500 attorneys worldwide chosen to be a Fellow of the International Academy of Trial Lawyers. He has been a Pennsylvania Super Lawyer every year since the program began and has been listed in The Best Lawyers in America every year since the publication was established in 1987. Best Lawyers also named him top personal injury attorney for Northeastern Pennsylvania and the Lehigh Valley. In addition, Best Lawyers, in conjunction with U.S. News & World Report, has designated HKQ a Tier 1 Best Law Firm for personal injury and medical malpractice litigation in Northeastern Pennsylvania and the Lehigh Valley.

Since the inception of the firm, the Commercial / Corporate Team led by Attorney Allan Kluger has provided comprehensive, integrated legal services to many of Northeastern and Eastern Pennsylvania's largest corporations, businesses, banks, non-profits and institutions, handling matters involving labor and employment, wills, trusts and estate planning, estate administration, elder law, commercial transactions, residential and commercial real estate, zoning, land use and development, telecommunications, mediations and arbitrations, commercial litigation, title insurance, business planning and business succession, corporate/business structuring, employment discrimination law for employers, banking, creditor’s rights, finance, lender liability defense, covenants not to compete, construction law, mergers and acquisitions and other business matters.

				

 

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