Charlottesville Real Estate Closings & Settlement

Experienced Real Estate Settlement Attorney with offices located in Charlottesville and Lake Monticello

 

Why people choose Tucker Griffin Barnes for their Purchase, Sale or Refinance settlement

Buyers, sellers, and real estate agents often seek counsel from Tucker Griffin Barnes with real estate closings at our Charlottesville and Lake Monticello real estate offices.  They know we fully understand real estate law, and can guide them through any pitfalls that may arise during property transfer.

Our Charlottesville and Lake Monticello real estate attorneys and staff provide closing/settlement services for the following transactions:  Sales, Purchases, Refinancing, Deed Drafting, Construction, For Sale By Owner, 1031 Exchanges, Reverse Mortgages, Title Problems, Partition Suits, Right of Way, Boundary Disputes and Family Land Disputes.

What to expect when you close with our law firm

• Responsive Communication.  Consistent contact with everyone involved.  Phone calls or emails returned same day or within 24 hours - we want to avoid all surprises.
• Solutions to Problems.  Creating solutions when the unexpected happens - it's what we do best.
• Family Friendly.  Casual environment with play areas for children - a unique law firm with deep roots in the community.

What some of our clients have said

•  "I cannot thank you enough for all your work.  I wish everyone had your work ethic and attention to detail and level of customer service.  This would never have gone through had you not been on the case.  We thank you from the bottom of our heats." - Kenneth L.

• "With the given situation it has been a blessing to work with such a professional and dedicated group of people.  We truly thank you all for all that you have done to keep this as painless as possible." - Julia W.

 

Recent Awards and Recognition:

• Voted Charlottesville's "Favorite Law Firm," 2011 Daily Progress.
• Voted Charlottesville's "Best Of" Law Firm, 2011 C-Ville.
• Voted Charlottesville's "No.1 Family Lawyer," 2010 Albemarle Family Magazine.
• Recognized in BestAttorneyOnline.com for "Best Accident & Injury Law Firms" in Va.
• Recognized in Guaranteed Lawyers for our "Personal Injury Practice."
• Recognized in the Super Lawyers "Virginia Rising Stars" list.
• Listed in Martindale-Hubbell's 2011 "Directory of Distinguished Attorneys."

 

Our real estate closing attorney

William Tucker

Frequently asked questions about Virginia real estate closings

Why should I close with a law firm versus a settlement company?

• Attorneys can protect your legal rights.  Closing are more contentious now than ever before.
• Attorneys can help when needed most.  They can often keep your closing from falling apart if unexpected legal problems develop.
• Settlement companies can only watch you sign papers.  They are not allowed to give you legal advice, even if they notice something is not in your best interests.
• Settlement companies quote purchasers low closing fees as a hook.  They then require you to purchase their expensive title insurance.

Should I order a survey when purchasing property?

Yes.  It is not uncommon to discover a fence is not the boundary line or a neighbor's shed is on your property.  Without a survey, you are buying the seller's problems. 

A settlement company will not advise you to get a survey, since surveys identify any legal problems with the property.  If a survey identifies a problem, settlement companies are not allowed to point out the problem, or provide advice on which course of action you should take. 

Should I use Cashier's Checks or Bank Wires?

For many years, it has been local practice to require certified or cashier's checks for all closings.  Recently, the Federal Reserve has been putting random holds on these checks, thus causing local banks to sometimes not give immediate credit when deposited into escrow.  This Federal Reserve policy is due to the recent increase in counterfeit cashier's checks.  One way to avoid the difficulties, and delays these holds can cause is to use bank wires instead of cashier's checks.

After consultation with your settlement attorney, buyers should arrange with their bank to be able to wire to the settlement attorney the necessary funds to close.  As long as buyer's arrange for the wire ahead of time, this practice may actually be easier for the buyers, as they do not need to rush to their bank to get a cashier's check.  Also, as the exact amount needed to close may not be available until just before closing, the final amount of the bank wire can be adjusted accordingly.

What happens if my Good Faith Estimate (GFE) changes?

We work directly with your lender to assure that the settlement charges estimated on the GFE are not exceeded by the allowed tolerances, and in fact may be less than estimated.  But if a changed circumstance occurs, we will work directly with your lender to ensure your best interests are protected.

Will I have help understanding the Settlement Statement (HUD-1)?

The HUD-1 form is a statement of all the actual settlement costs.  It also provides a comparison of the GFE amounts and any HUD-1 changes.  We will guide you step-by-step through the settlement statement and help you understand the numbers.

What is involved in recording the title?

When you purchase real property, you receive the deed that transfers ownership or title of the property to you.  The conveyance of real property is not complete until the deed is delivered to you or your authorized agent.  The deed should then be filed with the recorder in the county or city where the property is located for public notice that you own the property. 

When title insurance is purchased, the title insurer checks the change of title to determine whether any defects occurred in prior conveyances and transfers—defects may then be pointed out and excluded from coverage.   It is critical to ensure that each time the property was transferred, the previous purchasers obtained clear title.

What is your fee structure?

We handle most closings on a flat-fee basis.  Please contact us for specific costs.

 

We work with many professionals in the real estate community, including the following:

James Friend Dickerson, Re/Max Assured Properties

Yates Nobles, Associate Broker, Montague, Miller & Co - Downtown

Kevin Holt with ERA Bill May Realty Co.

Michele Sheffield-Roy Wheeler Realty Co.

Gerri G. Russell, Sales Associate, Farms & Estates

Tucker Griffin Barnes - Where deep insight equals powerful advantage.

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Please contact Tucker Griffin Barnes in Charlottesville, VA, or Lake Monticello, VA, when you need legal advice.  We have helped people in many areas of the law, including those injured in an automobile accident, car accident, tractor trailer accident and on the job.

We are a full-service law firm and represent clients in matters ranging from personal injury, workers compensation, and Social Security Disability to criminal law, divorce, and real estate.

Our geographic reach is broad.  We provide legal services all over the state of Virginia, but especially to locations in our immediate area:  Charlottesville, Crozet, Ruckersville, Earlysville, Scottsville, Lake Monticello, Palmyra, Stanardsville, Barboursville, Gordonsville, Waynesboro, Albemarle Co., Greene Co., Madison Co., Culpeper Co., Orange Co., Fluvanna Co., Louisa Co., Nelson Co. and Augusta Co.

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