Should I Get A Real Estate Agent Or A Real Estate Attorney In Florida?
The real estate bubble in Florida has been getting ready to burst for a while now, with unprecedented property transactions and acquisitions, particularly in the West Palm Beach area. Many of those selling and purchasing property are out-of-state or even foreign buyers who are using the property as an investment. Regardless of your specific reason for buying or selling, doing so is a huge financial decision that can have significant long-term impacts. Investing millions of dollars in a house that has a defective title can result in a catastrophic loss. One of the best ways to ensure that your purchase or sale is sound is to have the proper support.
Do I Need a Real Estate Agent in Florida?
You are not legally required to hire a real estate agent or broker in Florida, however, most people will find that doing so is in their best interest. While you can certainly attempt to sell your property on your own (think “for sale by owner” signs), most people do not have the necessary time or connections required to find a buyer for their property. Real estate agents make it their full time job to connect with people who are interested in buying or selling their homes and already have a network of interested buyers and sellers in most cases. They also have the time to dedicate to providing showings of your home. While it is not always the case, most people would not be able to sell their home without an agent, or at least not as expeditiously. An agent also works on a commission, which usually amounts to 5-6% of the sale price. While you may initially be inclined to avoid this cost, it is usually the case that the agent’s vested interest in getting as high of a sale price as possible to maximize their commission will also result in a higher sale price than you would have gotten on your own, and can negate or minimize the cost.
Benefits of Hiring a Real Estate Lawyer in Florida
Real estate agents and lawyers perform very different functions when it comes to buying and selling property. In order to complete a real estate transaction in Florida there are a number of documents that must be drafted and completed correctly, including the purchase or sale agreement, the real estate transfer deed, tax withholding documents, and a detailed closing statement. Errors in completing these forms can jeopardize the transfer. Additionally, lawyers perform due diligence to ensure that the property has a clean title free of encumbrances which would otherwise become your responsibility upon purchase. You are also not legally required to hire a lawyer in Florida when buying or selling real estate. In fact, some real estate agents may tell you that you don’t need a lawyer. You are only protected if you have one. At the Law Offices of Larry E. Bray, P.A., not only will your legal position be protected but we also act as closing and title agent and we write title insurance.
Talk to Larry E. Bray Today
If you are considering buying or selling property, working with a West Palm Beach real estate lawyer will provide you with the maximum amount of protection. Don’t sign anything until you have had a lawyer review it. Schedule a consultation with the Law Offices of Larry E. Bray today.