Although experienced real estate agents may guide clients throughout the process, they cannot provide legal advice. A Florida lawyer will not only protect the interests of the parties involved in the transaction but also guarantee a streamlined negotiation and expedited closing process.
Does Florida require the parties in a real estate transaction to hire a lawyer? Keep reading to find out.
Does Florida Require a Lawyer for Real Estate Transactions? – The Verdict
There are no statutory rules in Florida that require the parties in real estate transactions to hire a lawyer for legal representation. Although it is not mandatory, buyers and sellers may benefit from expert legal counseling to protect their interests and guarantee a successful closing.
Every real estate transaction involves several documents, such as purchase and sale contracts, transfer deeds, seller disclosures, home inspection reports, and many others. Dealing with the amount of paperwork involved is a complex task without proper legal guidance.
Many individuals believe that real estate agents may handle legal tasks, as they are presumably familiar with the documentation involved in this type of transaction. However, only licensed attorneys can provide legal advice and guide clients on possible outcomes of a given negotiation offer or contract.
Why Should You Seek Guidance from a Real Estate Attorney in Florida? – In Detail
Despite what many may think, real estate transactions in Florida involve more than document preparation. The services provided by an expert real estate attorney include:
- Helping clients to handle property appraisals
- Negotiating for repairs and improvements in a property
- Reviewing all the documentation involved in a real estate transaction
- Anticipating potential legal issues and avoiding future litigations
- Explaining the effect of signing a specific contract
- Advising each party involved in the process of their responsibilities under the terms of an agreement
- Negotiating with lenders on the client’s behalf (if the purchase is being financed)
- Explaining the implications of the loan on the sale (if the purchase is being financed)
- Educating clients about their rights and obligations if the sale falls through due to a lender’s failure to meet specific requirements (if the purchase is being financed)
- Providing valuable insights during home Inspections
- Clarifying the terms of financial documents to buyers
- Performing title searches
- Helping clients to acquire the necessary zoning licenses and permits (if the purchase involves commercial property)
- Preparing and reviewing closing documents, such as the transfer deeds, closing statements, buyer and seller affidavits, among others
- Working with a licensed CPA to handle tax liabilities
- Providing legal advice on matters such as tax prorations, tax withholding, surveys, etc
- Guaranteeing the process takes place without unnecessary delays
- Protecting the interests of clients throughout the whole process (from negotiation to the signature of closing paperwork)
- Identifying the various deadlines to which each party is held and ensuring they are properly met
- Acting as an escrow agent for the buyer’s earnest money deposit (if applicable)
- Handling unexpected issues that may arise during the title closing process
- Acting as a zealot defender in the event a legal dispute arises