Why you Need a Florida Real Estate Attorney?
Buying and selling real estate can be an exciting time, regardless of whether it is your dream home, Florida vacation property, timeshares, or commercial property. However, real estate closings in Florida can also be complex.
You want to be sure that the property you are purchasing has a clear title. As a seller, you want to ensure that the purchaser is serious and committed to buying your property when you enter a contract. Hiring a Florida real estate attorney can give you the peace of mind that your best interests are protected throughout the real estate closing process.
Five Reasons Why You Need an Experienced Real Estate Attorney in Daytona
Many people assume that they only need a real estate agent or realtor to guide them through the process of buying or selling real estate. However, this assumption can cost you time and money if you encounter a legal issue during the process. Realtors may understand the closing process, but they rarely understand Florida real estate law and how it can impact a real estate transaction. A Daytona real estate attorney can help protect your investment throughout the entire process of transferring real property.
• Negotiating a Purchase Agreement
When you enter a Purchase/Sale Agreement, many terms and conditions mustbe negotiatedwith the other party. Some of the terms of a real estate contract include the sales price, ownership interests, inspection periods, closing costs, financing, zoning and environmental issues, and contingencies. A real estate lawyer assists with the negotiations, but he also explains the legal consequences of the contract. He can help you determine the best way to take title to the property based on your unique financial position.
Many of the terms in a sales contract can have serious legal consequences. You need to understand each term and condition fully before signing the contract,or you could lose money on the deal. Your Daytona real estate lawyer ensures that there are no vague or unclear terms in the contract that could cause a dispute or issue during the transaction.
• Providing Title Searches
If you are the purchaser, you want to ensure that you receive clear title to the real property. There should not be any liens, title defects, unknown easements, or unknown restrictions that could negatively impact your ownership of the property.
Real estate attorneys review the title search to determine if the current owner has a free and clear title or if they are issues that must be addressed before closing. In some cases, an old mortgage lien may still be on record or a descriptionon a deed may be incorrect. Even minor issues such as these can create a major problem when you are ready to sell the property. An attorney can assist in clearing title so that you can proceed with the real estate closing.
• Sellers Need Attorneys Too
Many sellers simply allow the buyer's attorney to prepare the deed and handle the real estate closing. However, sellers can benefit from hiring a Daytona real estate attorney too.
The closing attorney represents the purchasers. Your realtor represents you in the transaction, but a realtor is not an attorney. If a dispute arises, the closing attorney protects the buyer's best interests. When you are selling high-value real estate, you have liens or judgments against you, you know there is a title defect, the property is in probate, or you are selling commercial property, you need a real estate attorney who will protect your best interests. Even if you anticipate a simple real estate closing, it is still beneficial to have your own attorney.
• Purchasing Rental Property
If you purchase property that is currently occupied by renters or the seller desires to remain in the property for a few months after closing, you instantly become a landlord at closing. Florida's landlord/tenant laws can be complex, and they typically favor the tenant. Therefore, you need an experienced Daytona real estate lawyer to explain your rights, duties, and responsibilities as a landlord before you sign the purchase agreement or close on the property.
• New Florida Residents or Out-of-Town Buyers
If you are new to Florida or you are purchasing property without physically visiting the property, you want someone who understands Florida real estate laws and who will protect your interests throughout the real estate closing process. A Daytona real estate lawyer can explain the local and state regulations and laws that could affect the value of the property. In addition, the attorney will ensure the contract is written to provide you with the most protection from disputes and issues.
Call a Daytona Real Estate Attorney
The above reasons are only five of the many reasons you need a real estate lawyer for a real property transaction in Florida. Call (888) 316-2131 to discuss how our Daytona real estate lawyer can help you as you sell or purchase property in Florida.