Best Real Estate Lawyers Franklin, TN

Franklin, TN Real Estate FAQs

• What is the non-emergency contact number for the local police station in Franklin, Tennessee?

  The Franklin Police Department's non-emergency phone number is (615) 794-2513.

• Where can I get a copy of police reports for incidents related to my case in Franklin, Tennessee?

  To obtain a copy of a police report, the Franklin Police Department provides three convenient options. You can either contact them directly via phone at (615) 794-2513, or visit their physical location at 900 Columbia Ave, Franklin, TN 37064. Alternatively, you can complete a request form online using this link: https://franklintn.justfoia.com/Forms/Launch/52ba054d-5d07-498e-b3d1-1babb3a51be5.

• What items should you bring to a Franklin real estate closing as a buyer?

  As a buyer in a Franklin real estate closing, you must bring an official photo ID for notarizing documents. These documents may include a mortgage term description note and a deed of trust confirming the house as collateral. Additionally, you should bring a cashier's check for the remaining down payment and closing costs. It may also be necessary to provide a copy of a valid homeowner's insurance policy, including flood certification if applicable.

• What is the concept of escrow and how does it play a role in your real estate transaction in Franklin?

  Escrow is a designated location, often a bank account, where money or property is held until specific conditions are fulfilled. In Franklin real estate transactions, your closing attorney may retain earnest money and other funds until the closing or a specified event takes place. If you're financing the purchase, the lender may require an additional agreement to hold a portion of the money in escrow, which will be disbursed periodically. This arrangement ensures prompt and complete payment of obligations like taxes and insurance.

• How do you select the right closing attorney for you in Franklin?

  When choosing a closing attorney in Franklin, consider experience, expertise, cost, and personal preferences. Choose professionals who can cater to your needs, even if you're uncertain about those needs at present. For instance, some attorneys may specialize in matters concerning senior citizens, while others can facilitate connections between investor clients during the closing process. Certain attorneys may have expertise in USDA and other governmental loans. Various websites offer information about attorneys and can serve as a helpful starting point. However, it's also essential to consult your real estate agent and seek recommendations from family and friends.

• What are the various forms of compensation that a plaintiff can receive in a case involving the breach of a real estate contract in Franklin?

  In a Franklin real estate contract breach case, as a buyer or seller, you may potentially obtain:

  • Compensatory damages which cover various aspects, such as the money spent based on the other party's promise, the difference in property value from its represented value or the cost of purchasing similar property, diminution in value, repair or replacement expenses, lost profits, and punitive damages.
  • Treble damages (if intentional interference with the real estate contract occurred).
  • Attorneys' fees and expenses if the real estate contract allows for it.

• What does a title insurance policy in Franklin cover?

  Title insurance safeguards Franklin lenders and homebuyers in case any issues arise with the title during the ownership transfer process. It typically provides coverage for various situations, including:

  • Unpaid taxes.
  • Liens from creditors, homeowners associations, or other outstanding debts.
  • Deed-related forgery or fraud.
  • Property disputes like encroachments on property lines by structures.
  • Ownership disputes, such as contested wills or unknown heirs.