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Why do I need a real estate attorney when buying or selling property?

house_for_saleFor many people, buying and selling real estate is the largest financial transaction they will ever make in their lifetimes. In addition to the pressure of inspections, negotiations, and closing, there's also the added pressure of setting a price that will meet your needs. The buyer and seller may attempt to make the transaction on their own, or each one can hire someone to act on their behalf—and hiring an attorney for the process can off many advantages.

What Your Attorney Does During the Course of a Real Estate Transaction

While Florida law doesn't require buyers and sellers to hire lawyers for real estate transactions, deals are usually brokered using either real estate agents or real estate attorneys. A real estate attorney can facilitate price negotiations, as well as help save you money and avoid legal liability or unforeseen costs.

We can protect your interests in a real estate transaction involving:

  • Negotiations. First-time buyers are often not sure how to negotiate a fair price for the home or space they want, leading to overpayment or the offer falling through. A good real estate attorney will advise you on the worth of the property and how much you can afford, and will know how to negotiate with a seller or seller’s agent.
  • Financing and lease agreements. When buyers need a lender to provide the funds for the sale, attorneys can explain the details and terms in the mortgage contract and communicate with the residential or commercial lender on your behalf. If you're purchasing commercial property, an attorney can help you draft and enforce a lease agreement with your future tenants.
  • Commercial transactions. If you're buying commercial property, there are special considerations and additional legal issues that may not arise in a home buying transaction. Buyers must consider environmental issues, easements, federal and state zoning requirements, tenant claims, and other issues. Our attorneys can help you file applications for land use permits, address your current and future liability, and take action to secure the investment on your behalf.
  • Document drafting and interpretation. Real estate sales involve the signing of many different documents, any one of which contains ambiguous language that leads to future legal battles. We can draft purchase and sale contracts, transfer deeds, leases, tax withholding documents, closing statements, and other documents in a way that clearly establishes liability and associated deadlines.
  • Out-of-town buyers. A seller or buyer from out-of-state may not be aware of Florida’s requirements and regulations for real estate transactions. A local real estate attorney is in a better position to investigate and negotiate tax and transfer requirements that may apply to the property.
  • Short sales. Bank-owned properties such as foreclosures and short sales involve specialized buying processed and requirements that can place an undue burden on the buyer. Your attorney can negotiate with the bank on your behalf and review the title to make sure you're paying a fair price.
  • Seller disclosures. Sellers have a duty under Florida law to tell potential buyers about known hazards on the property before the land, home, or structure is sold. We'll draft a seller disclosure statement that identifies any potential problems, whose responsibility it is to fix them, and who can be held liable in the future.

It can be difficult to know when to involve an attorney in the real estate process. Some people prefer to have an attorney at their side from the beginning, while others will go it alone until a problem arises.

Even if you don't need a lawyer at the start, you shouldn't hesitate to ask an attorney to examine the closing documents before signing. At the very least, an attorney’s guidance gives you peace of mind that all documents are in order—and if they aren’t, you could avoid paying thousands of dollars in unforeseen costs or living with a bad business deal for the rest of your life.

We're Here for You

Whether you're buying a home, a lot of land, or a commercial space, your purchase is a significant investment. Our attorneys tailor services to your specific needs, allowing you to get the right price, financing, and location that works for you.

In addition, we take the time to explain your options in a way you can understand, allowing you to make choices about the future with confidence. Simply fill out the quick contact form on this page to set up a consultation with one of our real estate attorneys.

 

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