In Colorado we do not use an attorney to close a home. The closing is prepared by a title company under the direction of the listing broker. It is common place for the loan officer to attend the closing to head of any problems and explain the mortgage to the buyers.

Many loan officers do not attend closings, so when choosing one, it is a good question to ask.

Just as with anything else, if you are not an expert in the field then you should have someone working with you who will represent your interests only. In Pennsylvania, a real estate agent can represent the seller, the buyer, both parties or even neither party (called transaction licensee, they advocate for no one and are mainly there to fill in the paperwork). I will ALWAYS suggest a buyer be represented by a REALTOR they have taken the time to choose very carefully. The agent will be there for you through the entire process including at closing and if you are up front with them, they will know exactly what you want to achieve and help you do so.

Most (not all) real estate transactions through REALTORS make use of standard PAR ( PA Assoc. of REALTOR) forms. These forms are well balanced, favoring neither the buyer or seller, and help to ensure many of the issues of real estate are addressed directly and clearly. This is one of the reasons many buyers feel confident purchasing a home without a lawyer.

Speaking on a personal level, our clients have often been impressed with the service they receive. We make it a point to take care of every issue and potential challenge long before we reach the settlement table often fixing things before the buyer knows there is a problem. We find that having a good relationship and open communication with all the parties involved can make the transaction smoother and provides our client with a great experience. If a problem then occurs at the last minute, which does happen sometimes, our clients feel comfortable knowing we are right there doing everything in our power to remedy the situation.

I am a Mortgage Broker who attends all my closings. I can vouch that most title companies have closers that can at least read through a mortgage and note to help you understand costs, rates, payments, etc. As a Mortgage Broker that does show up, I can run down the costs and explain what they are and WHY they are as well!...
IF something is not right, I can also help institute a correction or a modification.

I do like having a real estate agent present - there is NEVER a situation where you cannot bring in your attorney to help you should you so choose... but a good and honest Mortgage Broker will help you just the same but most likely with a better level of experience of actually dealing with the way the lender puts things out for their borrowers.

Hi Bee,

I think I responded to your earlier questions. I hope any info I gave you was helpful. And, I hope you receive other answers that will aid you, also.

In reading your questions, I am wondering if you have an agent. It's really tough to do all of this on your own without any trusted advisors at your side.

Since I am in NJ, and we are an "attorney" state, buyers/sellers without agents at least have an attorney. While I know many good real estate attorneys, I see their role as quite different than the Realtor within NJ. Realtors and attorneys work together for the benefit of the client in NJ.

In states where closings happen routinely without attorneys, the Realtors have a much more hands-on role through the closing process. i.e. California uses escrow companies.

You mentinoned Quicken in a former question. To my knowledge, Quicken doesn't have a local office, and the transaction is managed online. Are you using Quicken for your loan? Do you have a loan officer that you can talk with, ask questions, gain direction and advice?

If you are closing a transaction with experienced real estate and lender professionals at your side who do this all the time, you can close smoothly and successfully without an attorney. (Oops, did I say that in NJ! ............. In NJ, I do recommend that my clients hire a real estate attorney, since that is the customary process.)

It is always still your right to bring in an attorney. You seem concerned, and I haven't heard you mention other advisors and the role they might have in your transaction.

Simply because it isn't necessary to have an attorney, does not mean that you can't. Don't hesitate to call one in, simply because you heard it wasn't needed.

Keep us posted on your decisons.....When is your closing?

Regards,
Deborah Madey - Broker
Peninsula Realty Group, Inc.
(800) 973-5855
Deborah@PeninsulaFirst.com

In Wisconsin we use "Buyers Agency" to protect buyers..all the way through closing.

Hi Bee, I attend all of my closings to help if there are concerns. Problems such as "we agreed to this, and it wasn't done" can easily and efficiently be taken care of at the closing table! For mortgage questions I do have some lenders that attend all closings, otherwise we get the lender on the phone.

Here in Texas buyers and sellers have the option of utilizing an attorney, but have never seen the benefits first hand. In fact one seller had an attorney and I was representing the buyer and got every concession I asked for.

In Philadelphia , we have buyers agent , sellers agents and Dual agents. To avoid most problems it is best if you are buying to find a buyers agent that will be dedicated soley to you. When an agent represents both sides there has to be a balance of fairness to each party. I myself when representing my buyers often keep open communications with the listing agent and the mortgage lender to avoid surprises. But when apply for a mortgage it is recommend to have a relationship with the mortgage broker as well. Usually the mortgage brokers do attend closings , and they can and will address all your mortgage concerns. And your buyers agent will be the one fighting for you with 100% dedication. I hope this helps a little. Here is a link to Pa consumer notice , that explains agency relationships
http://www.dos.state.pa.us/bpoa/LIB/bpoa/20/10/recconsnotice.pdf