It's very likely the single largest purchase you'll ever make. You should have someone there who will represent your interests. Exclusively.

That's why it is recommended that you have a real estate attorney there throughout the entire process - ideally before a contract is prepared. He or she can explain the things essential to your purchase, such as:

• Your liability if assuming an existing mortgage
• The effect of any existing mortgage and construction liens
• Alternative means of financing, including the effect of mortgage pre-payments
• Where and how to file for homestead exemption
• The seller's liability after the sale
• Post-contract liability for fire and other hazards.

And he or she will ensure the following is executed:

• Obtain a title search, evaluate the status of the title, and require appropriate legal remedies to clear defects
• Prepare or review the Closing Statement and other closing documents and inform you of stipulations that affect your interests
• Prepare a bill of sale to cover any personal property such as drapes and appliances that are included in the sale
• Advise you how title should be taken and how this affects your overall business and personal estate
• As required, investigate zoning ordinances and other governmental use restrictions
• Relate the income, estate, and gift tax consequences to your estate
• Check unrecorded municipal liens, including sewer and special assessment liens
• Advise on what the title policy does not protect against, with emphasis on insurability and marketability.

The final stage of the process is the closing. It is here that your attorney will make sure the documents carry out the parties' actual intent as originally expressed in the contract, and meet requirements for a marketable title. Beware: if an attorney has not been included in the process, at the time of closing, you are taking a chance.