Why You Should Hire a Florida Real Estate Attorney When You Purchase a Home
Unlike some states, Florida does not legally require you to hire an attorney for the real estate closing process. Some real estate agents may try to dissuade you from hiring a real estate attorney for your closing, but there are plenty of reasons to consider retaining one anyway. A West Palm Beach real estate attorney can help protect your rights and expedite the process.
Assist with Contracts
Negotiating is often a big part of the real estate purchase process. The terms of your real estate purchase will be memorialized in a written contract that is legally binding on all parties. You want an attorney to help you through the negotiations and make sure the contract is drafted in accordance with all applicable laws. In addition, your attorney can address any issues that might come up with property use in the future.
Conduct Title Searches
An attorney can also perform a title search, which will ensure that the property you are buying has no legal encumbrances, like a judgment or a lien. The results of the title search are very important because they reveal whether the seller can legally sell the property that you are trying to buy.
Some real estate agents will argue that they can perform the title search themselves, but real estate attorneys can conduct them faster and often for less money. Attorneys that specialize in real estate closings even have relationships with title search companies who specialize in verifying that properties have clean tiles.
In the event there is a problem, your attorney can advise you on how to proceed. Real estate agents are not licensed attorneys, and therefore they cannot give you legal advice. For example, what happens if there is an outstanding lien that needs to be paid? Your attorney can work to negotiate with the seller to come down on the property’s price to compensate you for the delay in closing.
Filing Real Estate Deeds
Getting the real estate deed filed is also a task your attorney can assist with. This is especially important if you are purchasing a commercial property. There may be red tape involved with making sure that there is a tax id number and that your business structure is established. You need to be a valid business entity for tax purposes. Failure to file the right documents can have negative consequences for you as the buyer.
When one party is a partnership, corporation, or a trust, the process can be more complex. Florida real estate attorneys have the necessary experience to help facilitate these types of arrangements. Your attorney can help make sure that the contract not only follows all laws, but that it doesn’t violate the corporation’s, partnership’s, or trust’s charter agreement.
Contact a Florida Real Estate Attorney
These are just a few of the ways a West Palm Beach real estate attorney can help with real estate transactions. If you need assistance with purchasing a property in Florida, contact the Law Offices of Larry E. Bray, P.A. today to schedule an initial consultation.