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    Lorraine336's Avatar
    Lorraine336 Posts: 1, Reputation: 1
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    #1

    Jan 19, 2009, 04:01 PM
    Title company vs Real Estate Lawyer
    I am about to make a short-sale in Arizona (I'm from New York). Should I close with a lawyer or a title company. In NY we use Real Estate Attorneys. I was told that it's not necessary in Arizona. Will I be fully protected using a title company as well as a lawyer?

    Thank you.
    LisaB4657's Avatar
    LisaB4657 Posts: 3,662, Reputation: 534
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    #2

    Jan 19, 2009, 04:12 PM
    A title company will make sure that the transaction is done properly. An attorney will make sure that all of your interests are protected.

    If this were a standard sale, and if it is customary to use title companies for closings in Arizona, then I'd say just go with the title company. But since this is a short-sale rather than a standard sale you may want to use an attorney to make sure that you are protected and that you are relieved of all liabilities/responsibilities after the sale is complete. The title company isn't going to make sure that issues between you and the lender are resolved after the closing. The title company is only going to make sure that the closing is complete, the lien is off the property and the title is clear.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Jan 19, 2009, 07:12 PM

    I would agree, you need to be sure that all liens are cleared,

    Also be sure and do that title search and purchase title insurance.

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