Don't try to sell your property alone. Hiring the right real estate attorney helps you take all the right steps to ensure a smooth closing process.
- There are many reasons to hire an attorney as a seller.
- An attorney can help with paperwork and ensure you avoid charges from the title company.
- They also defend your interests and provide expert legal advice.
- Attorneys can ensure you know your responsibilities after closing, understanding closing costs, and have peace of mind when your transaction is completed.
If you're selling your property, you have a lot on your plate from hiring an agent and getting everything in tip-top shape for the listing to the showings and beyond. Each real estate transaction is different, and some are much easier than others. But, you never know what could come up when you're selling your property – even if you think that your closing will be straightforward.
This is why it's important to have a team – your real estate agent, title company, and a real estate attorney – on your side. It's not a legal requirement in Florida to hire an attorney to seal the deal, but it's probably a wise choice. Here's what you need to know about the key benefits if you're considering getting seller representation for closing.
1. Help with paperwork
Anyone who has gone through a property closing knows how much paperwork is involved. You often have to sift through a large pile of documents, and you may not be exactly sure what you're looking at or what you should be doing with it. A real estate attorney helps you make sense of it all so the process is much smoother and you can feel confident that the paperwork is being completed correctly.
2. Avoid charges from the title company
Your title company will charge you to prepare all the necessary documents, but that amount doesn't include legal representation. Consider using the fee you would pay to them to instead hire an attorney. Your real estate attorney will prepare the same documents while giving you actual legal guidance.
3. Defending your interests
The point of having a real estate team working for you is to ensure your interests are being considered. There are many things that could go wrong or slide under your radar and end up putting you in a tough position. An attorney will negotiate for your best interests, plus alert you if anything that arises won't benefit you or will do you harm in the long run.
4. Expert legal advice
Real estate agents know their stuff about the market and the home buying and selling process, but they cannot give you legal advice or services. Why risk agreeing to bad terms or getting into a tricky legal situation? Instead, consider hiring an attorney who ensures you never do.
For example, a title company will investigate whether there are legal issues with the transfer of ownership. If they find something, you will want legal help to back you – and your position – up. Another example would be if your buyer finds an issue with the property during the inspection period. You will need assistance in negotiations and while taking all necessary steps to come to a resolution. An attorney is best equipped to handle this for you.
5. Knowing your responsibilities
Both the seller and buyer have specific obligations during a real estate closing. The sale contract will stipulate whether any possessions – like appliances – are staying on the property and what you must remove before the transaction is finalized, for example. You may also be required to make certain repairs or additional disclosures that ensure you won't land you in legal trouble down the road. An attorney will help you take each action to make sure things are smooth and properly managed.
6. Understanding closing costs
The amounts that the seller and buyer pay during closing varies. As a seller, you may be responsible for paying for both your agent's and the buyer's agent's commission, the buyer's closing costs, outstanding amounts owed, or other costs. It can be challenging to understand which fees you must pay and when. An attorney will confirm that you understand everything you're paying for, plus the pros and cons of certain arrangements over others.
7. Getting peace of mind
There are many moving parts when you're selling a property. You're worrying about costs, the state of the property, showings, repairs, and contracts, as well as about ensuring that you follow the appropriate legal process after an offer is accepted. That includes negotiations, title considerations, the timeline, and more. Never leave these steps to chance. Working with a real estate attorney means you have someone on your team focused on your best interests and ensuring you're doing everything the right way.
When you need seller representation at closing in a Florida real estate transaction, the experienced PeytonBolin team is here to help. We are a full-service real estate law firm, and our attorneys can break down the law for you to get you the results you want. We negotiate for you, put your interests first, help you see the bigger picture, and assist you in reaching your long-term real estate goals.
Hire our team to get the experts on your side when selling your property. Contact PeytonBolin now for a consultation.