What is the function of the closing attorney?
The function of the closing attorney consists of several steps. There are activities which take place before the closing which include the Title Search, evaluations of possible Surveys and Termite Certificates, evaluation of hazard insurance policies and possible flood certificates and insurance, ordering and receiving the loan package, determining what documents which must be completed by the attorney himself, determining what information each lender form needs, and completing the HUD1 or Closing Statement. There are the activities of the closing itself including having all the appropriate documents signed, explaining lender’s and owner’s title insurance and explaining homestead exemption. There are, then, the activities which take place after the closing but which must be properly completed for the closing to be final, such as disbursing the closing proceeds, the disposition of the records created at the closing, and transmitting all the documents and payments to the proper persons o
