Buying or selling property can be exciting, but it also involves a series of important financial steps before the deal is complete. One of the most important of these is closing costs. These fees can come from several directions—lenders, local government, and service providers—and if we don’t review them closely, they can catch us off guard. Working with a trusted legal partner helps us understand where each dollar is going and make sure the final numbers are correct.
What closing costs include
Closing costs are the combined fees and charges paid at the end of a real estate transaction. They can cover loan origination charges, title search fees, transfer taxes, and recording fees. In some cases, they also include escrow account funding or prepaid interest. Both buyers and sellers may have obligations at closing, though the amounts and specific items will differ. Reviewing each line item with a lawyer before signing is an important step to protect our financial position.
Reviewing documents before closing
One of the most valuable services we provide is reviewing the settlement statement before closing day. This document outlines every charge tied to the transaction. We check for accuracy, confirm that any negotiated terms are correctly reflected, and flag any unexpected charges. If something doesn’t match the agreed terms or standard practices, we raise the issue with the other party or the title company to correct it before funds are transferred.
Avoiding disputes after the sale
A careful review of closing costs before finalizing the deal can prevent disputes that sometimes arise after the sale is complete. Disagreements over who should pay certain fees or whether charges were valid can lead to delays, refund demands, or even legal claims. By addressing these issues early, we reduce the chances of a post-closing problem and keep the transaction moving forward.
Negotiating certain costs
Not all closing costs are fixed. Some service-related fees can be negotiated between the buyer and seller, or between the client and lender. In certain transactions, the parties agree to split costs differently to make the deal work for both sides. We help identify which costs are flexible and guide our clients through requesting adjustments, so they are not paying more than necessary.
Why legal guidance matters
A property purchase or sale is a major financial commitment, and the closing process brings together many moving parts. Having an experienced lawyer review, explain, and confirm each cost gives us clarity and peace of mind. For those working with our Troy, MI real estate lawyer, this support can be the difference between a smooth transaction and a costly oversight.
Closing costs are more than just numbers on a page—they represent a final step toward property ownership or the successful sale of an asset. At Gudeman & Associates, P.C., we work closely with our clients to review every detail, resolve concerns, and keep the process moving efficiently. If you are planning a property transaction, we invite you to contact us today so we can help protect your interests and make the process as straightforward as possible.
