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The Benefits of Having a Buyer Representation Agreement When Purchasing Real Estate in Florida

Posted by Jane F. Bolin, Esq. | Mar 15, 2023 | 0 Comments

Having a legal professional assist with the closing process provides peace of mind when buying property.

Key Takeaways:

  • Buyer representation can streamline the property-buying process
  • The service includes title searches and coordination
  • This results in greater peace of mind when buying a property
  • PeytonBolin provides this service to our clients

Purchasing a residential or commercial property is one of the most significant investments you'll ever make, and you want to ensure you're adequately protected. Taking even a minor risk as you close this deal could have severe consequences for you in the future, so taking the time to close the right way is essential.

For that reason, speaking with a real estate attorney is highly recommended. These professionals will review your contracts, check the property's title, and explain every step to you in detail. The result is peace of mind when you close and the confidence that your purchase will go through without a hitch. 

Buying real estate doesn't have to be stressful when you have the right experts on your side. This article provides some information on the benefits of having a buyer representation agreement in place when purchasing a property in Florida.

Understand the process

It might sound like a simple job, but the first thing your real estate attorney will do is ensure you understand the closing process. There can be a lot of confusion for first-time buyers as they attempt to navigate the situation, and they might feel anxious as time goes by without finalizing the deal.

Your real estate attorney will speak with you about the methodology and answer your questions about what's happening throughout the process. Having a calming presence on your side is invaluable as you wait for the back-and-forth between your lawyer and the seller's representation to complete. This information ensures you know where the sale stands at any given moment. 

Your buyer representation will keep the process running smoothly and address any issues that arise, too. The result is less stress before, during, and after closing and a real estate purchase free from surprises.

Review all documents

A buyer-broker agreement Florida is vital because it allows your attorney to review all the closing documents associated with the purchase. There could be some negotiations as this process runs its course, and your lawyer knows the ins and outs of this situation, guaranteeing all details are handled with the utmost care. 

It's also essential that your lawyer looks at the contract terms and confirms they're favorable for you. If you don't have a lawyer on your side, it's entirely possible the seller's attorney could, without your knowledge, include some conditions that put you at a disadvantage if the deal falls apart. However, your lawyer will have seen it all and can address these problems before they cause any issues.

Your buyer representation agreement reduces any risks you could face while finalizing your real estate deal in Florida. That way, you can move forward with your purchase while having a professional address any hurdles you may encounter along the way.

Ensure the title is clear

One of the most critical ways a buyer representation agreement protects you is through the title search it includes. Your attorney will initialize a title search early in the process so you can be confident that the seller is the valid and legal owner of the property and that you won't run into problems later in your ownership. Without this search, the property could revert to the proper owner if it's discovered later that a disqualified seller signed the sale documents.

This title search could include a chain of title, which provides a complete history of the home's ownership so your attorney can identify potential ownership issues. It also looks for existing liens on the property that could put you on the hook for additional expenses if the owner hasn't paid some taxes or owes money to contractors. 

Having a clear title is critical to the home-buying process. If there is a lien on the property, it gives you another aspect to negotiate before closing the deal. Otherwise, you might be better off walking away from the sale and looking for a property with fewer strikes against it. 

Coordinate with the title company

The title company does more than check the home's title for liens and ownership – it also issues title insurance policies, manages escrow accounts, oversees lender documentation, and coordinates the closing. During this process, your attorney will coordinate with the title company to keep in touch regarding the property's status and ensure all the necessary documentation is ready by the closing date.

Because the title company handles so many jobs, having your attorney work with this service provider can help eliminate stress by putting your mind at ease. Your attorney will also thoroughly explain every document you must sign to complete the sale and ensure the seller's legal representative receives this paperwork and has it all signed in time. 

Coordinating a real estate sale is a complicated process, but real estate attorneys know what they're doing and will handle this for you before closing the deal. The sales contract will set a timeframe for completing this work, and your attorney will have everything completed for you by the closing date.

Peace of mind when buying a property

The benefits a buyer-broker agreement Florida provides for you are significant. Having an attorney on your side can eliminate many of the issues you might encounter while ensuring you always understand the status of the deal. Working with a professional minimizes your stress and eliminates mistakes, so your real estate transaction works out the way you envisioned. 

PeytonBolin offers buyer representation for clients closing real estate deals in Florida. Our team understands how complex these situations can be. Our legal experts work closely with you throughout the process, explaining every deal and coordinating with the title search company. Contact PeytonBolin for more information on a buyer representation agreement for your next Florida real estate transaction.

About the Author

Jane F. Bolin, Esq.

Founding Member, Managing Partner


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