During a real estate transaction, the parties involved – buyer and seller – must defend their interests while securing a fair deal for both parties.
In Florida, a typical real estate transaction will require the participation of multiple actors besides the buyer and seller. These professionals will provide support throughout the process, avoiding risks and paving the way to a successful closing.
In this article, you will discover the professionals that you may need to successfully sell or buy real estate in Florida.
Which Professionals Do You Need in a Florida Real Estate Transaction?
Real Estate Attorney
Although it is not mandatory by law that a buyer or a seller in a Florida real estate transaction must hire an attorney, it is still the most recommended approach.
Most of the procedures conducted within a real estate transaction involve multiple agents, including the buyer, the seller, a real estate agent, a title company, a lender, etc. Considering the complexity involved in the process, it may become an overwhelming experience.
Accordingly, it is fundamental to seek legal advice from an experienced real estate attorney in Florida. An expert legal advisor will not only draft and handle the required paperwork but also defend the interest of their client through the negotiation to ensure and coordinate everyone’s efforts towards a common goal.
It is not uncanny to find transactions wherein complications or issues arise, exposing the parties involved to financial, contractual, or even legal risks. The guidance of an expert legal advisor will make the experience safer and more convenient for everyone.
Real Estate Agent
If the buyer or seller are not real estate investors who regularly transact properties, the transaction will likely need a real estate agent. In short, the role of a real estate agent is to help the client to navigate the transaction, finding the property that meets the client’s needs at the best price.
When selecting a real estate agent, it is fundamental to choose only licensed professionals. In this sense, the real estate agent must be licensed by the Florida Real Estate Commission (FREC), which is the government office that regulates realtors’ licensure within the state.
While realtors may be able to provide valuable services, they are not allowed to offer legal advice. In Florida, legal activities are conducted exclusively by licensed attorneys.
During a real estate transaction, the buyer may borrow money from a bank, a credit union, a mortgage company, or a government agency.
Ultimately, the main goal is to obtain pre-approval for a mortgage loan, which will ensure the process will be smoother and more expedited.
Usually, most real estate transactions include an in-depth inspection of the property before closing. During the inspection, a professional inspector will assess the existence of any problems affecting the property and disclose them before it is too late.
Title & Insurance Agent
While it is possible to hire distinct companies to perform title and insurance services separately, the best approach is to seek an attorney-owned solution under a single roof. In fact, licensed attorneys can act as title agents and insurance providers in Florida, which is an advantage for buyers.
Title search and clearance are crucial to ensure a smooth closing in any transaction, while title insurance is essential to cover any unforeseen or unexpected issues that may arise after both parties already signed the purchase and sale contract.
What Is Required To Sell or Buy Real Estate in Florida? – Seek Professional Guidance Today
Jurado & Associates P.A. is a Miami-based law firm wherein you will find the best legal services for real estate and business transactions. Waste no time – call Attorney Romy B. Jurado today at (305) 921-0976 or email [email protected] to schedule a consultation.