Who is authorized to give legal advice during a real estate settlement?

The correct answer is that a licensed Virginia attorney is authorized to give legal advice during a real estate settlement because only licensed attorneys are qualified to provide legal counsel in any legal matters. This includes interpreting contracts, advising clients on legal rights and obligations, and addressing any legal issues that may arise during the transaction process.

A licensed title agent can assist with the closing process and may provide information regarding title insurance, but they do not have the legal authority to give advice about the law or specific legal issues. Similarly, while a lender can guide borrowers through financing aspects, they are not permitted to offer legal advice regarding the transaction itself. A real estate broker can provide guidance and assistance with property transactions but also cannot give legal advice, as that is strictly the domain of licensed attorneys.

Thus, a licensed attorney is the only party equipped with the necessary legal training and authority to provide legal advice during a real estate settlement.