Closing a real estate transaction in Florida can be a complex task. Depending on the circumstances involved in the transaction, the closing process may result in a lengthy and time-consuming experience.
In this article, you will discover whether it is better to work with a real estate attorney or title company for closing in Florida.
Real Estate Attorney vs. Title Company – An Introduction
A title company is a business focused on helping customers identify whether the title of a property has no ownership conflicts or other clouds that may negatively affect the parties involved in the transaction in the post-closing phase.
One of the most important procedures handled by a title company is the title search. This research process is crucial to verify the legitimacy of property ownership and confirm whether the seller has the right to transfer ownership of the asset.
During the research, the title company will uncover the property’s chain of title to discover title defects and encumbrances. In some cases, the company may also issue a title insurance policy to protect the customer against unexpected liabilities.
On the other hand, a Florida real estate attorney is a professional legal advisor licensed to practice real estate law within state jurisdiction.
While title company workers are legally prohibited from providing legal advice without a proper license to practice law, an attorney can serve as a closing agent and provide legal advice throughout the closing process.
Real Estate Attorney vs. Title Company for Closing in Florida – What is the Best Option?
Whether you are buying or selling a property in Florida, the best strategy is to work with a well-versed real estate attorney. This is the option with superior cost-benefit and guaranteed efficiency.
In addition to an extra layer of protection for your real estate closing, a licensed closing attorney in Florida can help by:
- Identifying whether the seller has full or partial ownership of the property
- Revealing the existence of any liens, judgments, or other claims against the title of the property
- Uncovering deed restrictions and covenants
- Discovering any existing breaks in the chain of title
- Finding the appropriate solution to resolve any clouds and encumbrances affecting the title
- Providing valuable advice on title insurance
- Arranging the purchase of a title insurance policy
- Reviewing the paperwork involved in the transaction
- Negotiating terms to protect the client’s interests (if necessary)
- Double-checking the amount involved in the transaction and how the capital will be allocated
- Preparing any necessary documents (i.e., deeds, affidavits, etc.)
- Reviewing the mortgage documents and clarifying the terms to the client
- Properly allocating taxes, utility charges, HOA fees, and other similar expenses in the contract
- Drafting a proper settlement statement
- Overseeing the closing process and confirming both parties have satisfied their contractual obligations
Real estate transactions involve several tasks. From home inspection to mandatory disclosures, a real estate attorney can guide the parties involved and ensure a smooth closing for the transaction.
Do You Want to Ensure a Successful Real Estate Closing? – Immediately Contact Attorney Romy B. Jurado
With years of experience handling well-succeeded closings in Florida real estate, Attorney Romy B. Jurado willingly wants to help you as well. Contact us by calling (305) 921-0976 or emailing [email protected] to schedule a consultation.