Real Estate Attorneys & Florida Closings
A closing is a proceeding at which the sale of a piece of property becomes final. These proceedings can be either quite simple, or can be complex, involving a host of different questions and understandings. If you are a buyer or seller approaching your closing, it is crucial to understand your rights and responsibilities during and after the process. Many small issues can appear if either party fails to do their due diligence. An experienced attorney can help.
Should A Real Estate Attorney Conduct Our Closing?
While an attorney is not strictly required at a real estate closing, it is highly recommended to have one. A real estate attorney can review the documents, such as the bill of sale and the deed, to ensure they are correct and unambiguous. In addition, with an attorney overseeing the process, it is more likely that legal deadlines are met, avoiding potential fallout involving fines and costs. In addition, a realtor or other “title agent” cannot actually provide legal advice; hiring an attorney is often simply the most practical course of action.
In terms of who actually bears the cost of an attorney to act as your title agent, it can vary from county to county, as Florida law does not specify any requirements. In Palm Beach County, for example, the seller of the property will often choose the title agent and insurance, and cover the costs for both parties, while in Hillsborough County, this custom is not observed. As long as both parties are able to come to a visible consensus, the law is satisfied.
How Is The Closing Concluded?
It is the responsibility of the title agent – in most cases, the attorney – to ensure that the closing is satisfactorily concluded. This includes ensuring that both parties are satisfied with what they are about to exchange. It is, theoretically, possible for a buyer or seller to back out of a real estate transaction, but by the time of the closing, it is far too late to do so, and an unhappy buyer or seller can cause issues for all involved. The most common area where errors occur is in verifying marketable title, but other problems can torpedo a real estate transaction with ease.
One thing to keep in mind when choosing a title agent is that support for a buyer or seller goes beyond the closing proceedings – most notably in recording the deed (and any mortgage, if one is taken out). The real estate attorney must send the paperwork to the appropriate county, and the closing is not considered completed until the official record book number and page are received, signifying that the deed has been recorded. If your title agent fails to fulfill this task, you may have cause to seek compensation.
Contact A Tampa Real Estate Attorney
Closings can be long, drawn-out endeavors, but the presence of an experienced Tampa real estate attorney from the Seward Law Office can help to ensure that everything goes smoothly. Attorney Alicia Seward has handled many of these cases, and will work hard on yours. Contact our office today at 813-252-6789 to schedule a consultation.
