In the simplest terms, a Real Estate Attorney is a lawyer that dedicates most of their time, effort, and knowledge to the rules, regulations, and laws governing real property transfers. However, this hardly does justice to the broad scope of services and solutions they can offer.
When hiring a Florida Real Estate Attorney, chances are you are looking for someone professional, competent, and trustworthy. After all, you are relying on them to ensure your transaction goes smoothly and you receive something of considerable value (be it real property or significant funds).
With that in mind, here are some things your Real Estate Attorney should be able to answer.
How Does the Work of a Real Estate Attorney Affect a Real Estate Transaction?
In essence, a real estate attorney assists either the buyer or seller with the property transaction. This assistance ranges from helping a client with their contractual rights and responsibilities, to representing the best interest of the client at the real estate closing.
Real estate transactions have different phases, from negotiation to closing. Consequently, a real attorney will be present at all stages to protect the client’s best interests and avoid potential issues.
Regardless, if there are issues that require immediate attention—which is an ever-present possibility in any transaction—a real estate attorney should be ready to react quickly and deploy the skills and expertise needed to get the matter resolved and protect their client’s interest.
Ultimately, legal guidance may be the difference between a successful and a failed deal – which is why it so important to have an experience real estate attorney by your side.
Why Should Homebuyers in Florida Hire a Real Estate Attorney?
You might think that buying or selling a home is a lot less risky than a commercial property or multi-unit development, and that only the latter need real estate attorneys involved.
Yet without adequate guidance, homebuyers may also be exposed to several hidden or overlooked issues that could jeopardize their transaction or saddle them with costly liabilities. Matters that a real estate attorney will be able to assist with include:
- Clarifying any complex legal terms (e.g., clauses in purchase contracts, mortgage agreements, etc.)
- Holding the earnest money deposit (i.e., escrow deposit) in an attorney trust account
- Identifying and adjusting any problematic (or potentially problematic) clauses in contracts
- Performing a title search to identify title defects (e.g., liens, easements, covenants, etc.)
- Preparing a detailed title report
- Issuing a title insurance policy
- Advising on ways to take title to real property
- Registering the property in the new owner’s name (an overlooked but crucial aspect)
- Assisting with questions regarding financing and mortgages
- Ensuring there are no liabilities associated with HOAs or condos
- Facilitating the closing process
- Drafting and handling all required paperwork
Why Should Property Sellers in Florida Hire a Real Estate Attorney?
Property sellers are no less vulnerable to risk when putting a residential or commercial property for sale in Florida. An expert attorney can help sellers with proper legal guidance with regard to the following matters:
- Conducting a lien and title search to find and correct any title defects
- Negotiating the terms of the deal with buyers and their legal representatives
- Drafting a thorough and detailed sale and purchase agreement
- Assisting with mandatory seller disclosures
- Drafting legal documents (the deed of conveyance, bill of sale, closing affidavit, etc.)
- Using powers of attorney to represent clients located out of state or abroad
- Identifying any potential grounds for future liability to mitigate risks
- Assisting with financial management within the transaction (e.g., security deposits, loan payoffs, expenses associated with maintenance and repairs, etc.)
- Preparing the closing statement
- Handling disbursements of funds at closing and paying off any required debts
Do Not Take Chances – Work with Farshchian Law Today
Farshchian Law is operated by a seasoned team of real estate professionals who can answer your questions, address your concerns, and be there every step of the transaction to protect your interests. To learn more or to schedule a free consultation, contact us by calling (800) 604-1871 or by email us at Info@JFRealEstateLaw.com. We provide real estate, title, and closing services throughout the State of Florida.