Buying and selling a home comes with a lot of paperwork, legalese and hassle. It’s often an expensive and time-consuming process, which means many people balk at the idea of hiring a real estate attorney in Miami, FL on top of working with agents. In Florida, you’re required to have an attorney involved for at least the closing process, if not every step of the way.
Hiring a closing attorney is not just required, it’s a smart decision—and you need to do it well ahead of closing. Here’s why it’s wise to work with an attorney throughout the home buying and selling process.
How an attorney can help
Some real estate transactions are simple, but most of them come with unforeseen delays, obstacles and other issues that can prevent you from going forward with the property of your dreams. Attorneys usually cost about $800 to $1,000 for real estate transactions—a fraction of the price you’re paying or receiving for the property—but their assistance is invaluable. They add another layer of protection for both the buyer and seller if things go wrong, or if there’s a dispute later.
After you’ve negotiated the selling price and the general terms, your real estate attorney will review your contract. After the home inspection is performed and they’ve done a title search, your attorney will work with the buyer or seller to negotiate additional terms, repairs and other solutions to protect your interests.
Hiring a real estate attorney at the outset will help with any issues that may crop up. For example, if you’re looking at a property that’s bank-owned, part of an estate sale, needs significant repairs or has liens on the title, you’ll need an attorney to help you determine whether it’s a good deal. Attorneys can also help you review contracts for properties in areas that are prone to natural disasters and other issues. The idea is to ensure that you have a knowledgeable partner who will look out for your interests—sometimes problems crop up long after the contract has been signed.
What a real estate attorney does
When you close on a property, your real estate attorney will first do a title search to make sure there are no liens or judgements against the property; if there are, they’ll need to be “cured” before you close. Next, they’ll review the contracts themselves to ensure the terms and conditions are appropriate, and no red flags were missed. Your attorney will also work with your agent during negotiations to talk about anything discovered during the title search and inspections.
Finally, your attorney will review all the fees and costs associated with your sale, including agent fees, mortgages and more. All of these duties are designed to give you additional peace of mind, especially when the property comes with legal or repair issues.
If you’re thinking about buying or selling property, you’ll need to find a qualified closing attorney in Miami, FL right away. Call Ruben J. Padron, PA today for assistance.
Categorised in: Real Estate Attorney