For many buyers and sellers, it may seem like having an accepted offer is the homestretch in any property transaction. In reality, however, selecting a home or finding a buyer is only the tip of the iceberg. There are many important steps to closing on the purchase or sale of your home. Here we discuss some of the steps involved, and how having a qualified licensed Florida Real Estate Attorney can save you time and hassle.
Coordinating the Parties AND Paperwork
There is a lot of information that needs to be collected and coordinated in a real estate transaction. Property address, selling price, buyer and seller names, the name of the lender and the amount and identity of any current mortgages. An experience real estate attorney will collect this information for your transaction once and then use it to prepare all future documents, saving you time and energy. This also ensures accuracy and eliminates the potential for errors since all of the data will be coordinated by one centralized person.
The Importance of a Title Search
One of the most invaluable tasks of a real estate attorney in the real estate closing process, is the title search. Your attorney will order a title search for the property. This will show the full history of passing of ownership from one party to another over the years, which ensures a clean history of title to the property. This will also determine if there are any liens, outstanding tax bills, or other claims to title which could complicate your legal ownership of the property.
The Documentation
Preparing for the closing process of buying a home can require a great deal of documentation. Final paperwork for the closing must be sent to the real estate agents for both parties, the buyer's lender, the seller's old lender, the local government agency and various other parties. Multiple copies must be prepared, all with accuracy and attention to detail in order to ensure that the final closing date goes off as smoothly as possible for the buying and selling parties. A Florida Real Estate attorney is knowledgeable of all of the documentation requirements for the sale and purchase of property in the state and ensure that your closing goes off without a hitch.
The Signing
The Big day has finally arrived. All of the steps in closing on your new home culminate in the final signing and closing services. A real estate attorney can provide not only the location for signing the multitude of documents, but can review and prepare everything in advance to make sure the process occurs quickly and smoothly. Your Florida real estate attorney will also make sure that any last minute hiccups are dealt with swiftly. They will verify final wiring of funds to all parties, ensure the lender's calculations are accurate and overall provide assurance that your closing and settlement goes off without a hitch.
If you are in need of a qualified Florida Real Estate Attorney for your next purchase or sale, contact the law offices of Justin McMurray, P.A. for a consultation today.