Speaking with a real estate attorney ensures your purchase goes as smoothly as possible.
- Legal consultation is available for real estate buyers and sellers
- A lawyer will ensure you understand the transfer process
- This attorney can also identify and solve potential issues
- PeytonBolin offers our clients 30-minute legal consultations
Real estate transactions are often life-changing, as the property is most likely one of the largest and most expensive purchases you'll ever make. For that reason, you won't want to leave anything to chance.
A seemingly minor error could jeopardize the entire purchase or leave you on the hook for additional expenses in the future, quickly turning your dream into a nightmare. In more extreme cases, it could also force you to forfeit the property.
You'll more than likely have a real estate agent representing you while you purchase your property. While these agents are typically good at their jobs and will review all the documentation, they don't have legal backgrounds and could overlook certain elements.
Seeking a consultation with a lawyer before signing any documents is essential because it minimizes the problems you may encounter when buying real estate in Florida. The attorney you choose will have significant experience with local laws and procedures, protecting your interests and putting your mind at ease.
Buying property without speaking to a lawyer is simply too risky to attempt. Here are five reasons to meet with a real estate attorney in Florida before purchasing residential or commercial property in the state.
1. Understand the legalese
A typical problem buyers experience when going through their real estate documents is difficulty in comprehending the complicated language they use. These contracts often use complex legal terms you might need help understanding, which can add to your stress as you finalize the deal.
Your real estate attorney can quickly summarize these documents in plain language so you know what you're signing and understand your responsibilities and liabilities. The result is a streamlined buying process with fewer misunderstandings in the future because of this legalese.
2. Identify potential legal issues
Meeting with a real estate lawyer helps you discover problems with your contracts, inspections, appraisals, leases, and legal documents that you could miss when going through the paperwork on your own. Issues with these documents could cause more significant problems later on, so identifying them early in the buying process is in your best interest.
For instance, your contracts must adhere to state laws before you can file them with local authorities. If you don't, officials could put your ownership of the property into question. You could also run into issues that affect your future use of the property, which you'll need to address before finalizing the deal.
Your attorney can negotiate solutions to any problems they may uncover during your consultation, which could help you secure better terms. At the very least, you won't end up buying a property that will cause you significant stress down the road.
3. Perform a title search
You can have your attorney perform a title search on the property to ensure it has no claims against it. This service is vital even if you aren't planning a formal consultation with a lawyer because it limits your chances of inheriting the seller's legal problems or debts.
A title search also confirms that the seller legally owns the property and is permitted to transfer the property to you. The result is peace of mind that you're becoming the valid owner of the land and aren't falling victim to a scam.
4. Complicated property transfers
Buying a property from a corporation, trust, or partnership can create a complicated legal situation you must address before finalizing the deal. The contract preparation and negotiation processes will have some specific protocols you'll need to follow, as there's a chance multiple parties will have to be involved in the sale to make it official.
Real estate attorneys understand the legal boundaries for these types of property transfers, helping you navigate the situation according to the seller's charter agreements and local regulations. Having a lawyer on your side ensures your contract meets all the requirements, allowing the sale to be completed without any issues.
5. Answer your questions
In some situations, all you need is some answers to your real estate questions before you proceed. While you could spend hours researching the topic, it's far easier to book a consultation with a lawyer to answer your queries quickly and accurately.
Your real estate attorney can provide insight into any topic you're unsure of and offer the information you need to make an informed decision. The result is a faster buying process and the confidence you need to finalize your purchase.
Lawyers for sellers
Buyers aren't the only ones who can benefit from speaking to a real estate attorney in Florida, as sellers also need legal assistance. Although hiring a lawyer isn't mandatory, you can decrease your chances of encountering lawsuits in the future because your attorney will ensure you disclose all necessary information to the other party.
Your attorney will also review all your sale documents before you sign, assist with any necessary negotiations if the buyer finds issues before completing the sale, remedy any title issues that appear, and exchange all the mandatory legal documents with the buyer's attorney. The outcome is less worry of legal ramifications after selling a property in the state of Florida.
Get the help you need
Even a quick consultation with a real estate attorney can put your mind at ease as you close a real estate transaction. This appointment allows you to ask questions about the buying or selling process and have the legalese simplified for you, helping you understand your rights and responsibilities as you purchase or sell property in Florida.
PeytonBolin offers 30-minute legal consultations to our real estate clients. We also provide buyer and seller representation when closing a deal. Contact PeytonBolin to book a consultation with a lawyer before completing your next real estate transaction.