At the Law Offices of Lipsey & Clifford, P.C., we are committed to protecting your legal rights and guiding you through the maze of steps in a real estate transaction. We specialize in the "First Time Homebuyer," understanding the anxiety that is involved in what is probably the biggest transaction of your life. Our attorneys have handled thousands of residential real estate transactions, and have lectured extensively on the subject.
Purchasing a home is one of the most important transactions you will ever make, regardless of whether it is your first home or your tenth. It will affect the happiness and wellbeing of you and your family for years to come. At times, the process can be confusing and difficult. At the Law Offices of Lipsey & Clifford, P.C., it is our job to make it as smooth and easy as possible. The following reviews the overall process of purchasing a home.
The First Step…
When you contact The Law Offices of Lipsey & Clifford, P.C., we will ask for all of the information available at that point that is vital to the transaction. When our office receives a copy of the "Purchase & Sale Agreement" (P&S) from the broker or from the seller’s attorney, we will review it to make sure that it is consistent with the information provided by you, as well as in your accepted "Offer to Purchase Real Estate". It is important that you provide us with all the vital information regarding your transaction as soon as it becomes available to you.
Next, we will assist you with understanding your financing options. As of January 1, 2010, any loan application will require the lender to provide you with the new three page Good Faith Estimate ("GFE"). The purpose of the new GFE is to provide clarity and transparency to the process. Unfortunately, because it is three pages in length, it can become a little confusing. You should review a sample GFE and speak to an attorney at Lipsey & Clifford, P.C. before submitting your application so you know the important questions to ask your loan officer when completing the application. Between the time you submit your application and the closing, it is very important that you submit any requested documentation and/or information in a timely fashion. Finally, remember that the most important thing is to ask lots of questions so that you understand each and every step of the process.
Click here to view sample GFE
If you have any questions or concerns, please contact attorney Scott Clifford or one of our many office locations across the South Shore.