Under Florida law, it is not mandatory for state residents to have an attorney involved in real estate transactions. It is possible to find a property, negotiate the terms of the sale, and close the transaction without either an attorney or a real estate agent.
However, each case is different. In certain circumstances, the help of licensed professionals may be crucial to ensure a successful closing. In this article, you will find out the difference between realtors and real estate attorneys in Florida.
Real Estate Agent and a Real Estate Attorney – Key Differences
In Florida, real estate agents are licensed professionals who represent buyers or sellers involved in real estate transactions. As an expert in real estate negotiations, a real estate agent must:
- Value properties based on market analysis
- Guide clients looking for properties to buy
- Assess and filter the best deals based on the client’s needs and purposes
- Know neighborhoods and surrounding areas in detail
- Represent buyers and sellers during negotiations, submitting and negotiating offers
- Help clients to identify potential defects in a property
- Assist clients to negotiate for repairs or upgrades (if applicable)
- Prepare the contracts in the transaction’s closing
The performance of a zealot real estate agent may directly impact the conditions and value of a real estate purchase. To perform well, real estate agents need to ensure clear communication, trustworthiness, reliability, and pragmatism.
While real estate agents might have considerable knowledge of Florida real estate laws, they cannot provide legal advice during real estate transactions. Under state law, only licensed attorneys can provide legal guidance for buyers and sellers involved in a potential deal.
Why Should You Hire an Expert Real Estate Attorney in Florida? – In Detail
Real estate agents cannot provide legal advice, but real estate attorneys can perform all the duties of a real estate agent. A local attorney with years of experience in Florida’s real estate market may help clients by:
- Identifying the best opportunities for clients
- Valuing properties based on legal experience
- Providing valuable legal insights throughout the process
- Protecting the client’s interests when negotiating with lenders
- Identifying potential financing benefits associated with a client’s personal condition (e.g., VA Home Loans)
- Performing title searches
- Identifying title clouds, judgments, liens, and other title defects
- Drafting and handling the documentation involved in the transaction
- Handling potential liabilities
- Identifying potential tax benefits and using them to favor a client’s transaction
- Reviewing all documents and contracts to ensure the client’s legal protection
- Representing clients during negotiations
- Using negotiations techniques to obtain better pricing conditions
- Identify “unusual” opportunities (e.g., foreclosed properties in excellent physical condition selling at low prices)
- Shielding clients against title clouds, imprecise contracts, and other potential legal issues
- Ensuring full legal compliance throughout the process
An experienced attorney may guide clients on whether they benefit more from certain types of ownership, such as joint tenancy, tenancy by the entirety, or even LLC ownership.
Depending on the transaction’s circumstances, an attorney may examine the terms under which a client’s deposit is held and get the amount back from the seller if things do not go as expected.