In the interests of full transparency, we should note that the state of Florida does NOT require homebuyers or sellers to retain the services of a real estate attorney before closing on a house. Plenty of other states do, however, and for more than a few good reasons. Even though you can get away with closing on your dream home by relying on a realtor and title insurance provider, there are several compelling reasons to hire an attorney long before you sign the purchase agreement.
- Your attorney can review the contract before you sign and negotiate on your behalf. Home purchases, for many people, are the most complex financial transactions in which they will ever be involved. Even after you sign a contract with the seller, there are many more steps to complete before you will be recognized as the legal owner of a home. A well-negotiated contract will make it clear that your offer is contingent upon a thorough home inspection. In other words, you have leverage if the inspector turns up any major issues that the seller did not disclose. A quality attorney will be able to make sure the contract is airtight.
- If a title search uncovers any issues, you will need an attorney anyway. Some homebuyers in Florida choose to rely on a title insurance company when closing. Title insurance companies are useful for homebuyers and provide an invaluable service, but there are limits to what they can do. Buying a home means the legal right of ownership is transferred. Unlike title insurance companies, attorneys understand the legal complexities and nuances of Florida real estate law and can help navigate your way out of a stressful situation. Plus, while title companies are performing a service for you, they do not have as strong a fiduciary duty to you as your attorney does.
- Purchases of houses involved with foreclosure or probate issues are quite complex. There are countless scenarios in which the purchase of a home can intersect with other legal areas. Sellers who are forced to put their homes on the market by way of a short sale (an alternative to foreclosure) represent a unique situation. Houses that were foreclosed on might still be tied up in litigation. Shortly after an economic downturn (like the one caused by COVID-19 and subsequent health orders), there are many foreclosure properties up for sale. Hiring an attorney to be on the safe side could be one of your best decisions.
Alvarez Law Group Can Ensure a Smooth Closing
Once you’ve found your dream home that you will raise your kids in and, perhaps, enjoy in your golden years, wouldn’t you want the closing process to go off without a hitch? Hiring an attorney is arguably the best way to make that happen. Our firm can help you close on your future house and be there much earlier in the process so we can represent you at every turn. Reach out to our team here to find out how we can meet your legal needs.
Alvarez Law Group
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