Don’t Take Chances – Use an Attorney for your Closings

On Behalf of | Jul 30, 2015 | Uncategorized

Article 13 of the Code of Ethics says: “Realtors shall not engage in activities that constitute the unauthorized practice of law and shall recommend that legal counsel be obtained when the interest of any party to the transaction requires it.”The rules allow Realtors to fill out standard contract forms and addenda, but not much more. Realtors are not supposed to prepare special agreements, contingencies, etc. that are not covered in the standard forms of contract and addenda. So why take a chance that you might violate either the prohibition against Realtors engaging in the practice of law. When real estate attorneys will do closings for the same price as title companies charge  (promulgated rate), doesn’t it make sense to afford yourself the extra protection which comes from having your closings done at an attorney’s office that specializes in doing closings and issuing title insurance?As you should know, when you have such a referral relationship with an attorney’s office, the attorney will know you on a first name basis and will assist you in other ways to help you keep out of trouble in this litigious age we live in. If an attorney has the closing from the start (and is also available to assist you with other issues and drafting), you do not have to be concerned that a closing that looks like it will he trouble free may suddenly raise a legal problem that would require you to suggest legal representation in order to avoid an Article 13 violation. In other words the transition point between “a title company can handle this” and the Article 13 requirement to refer to an attorney is often hard to determine, so why not get the closing to an attorney in the first place.