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DO I NEED AN ATTORNEY TO CLOSE MY HOME PURCHASE?

Posted by: Unknown on Tuesday, May 3, 2011 at 12:00:00 am

DO I NEED AN ATTORNEY TO CLOSE MY HOME PURCHASE?

Yes and No.  From our Past Experience & our Team strategy, we like to base our decision on how well the negotiations have gone during the home offer process.

There are transactions where everyone is reasonable, they play nice together and there are transactions where too many of the players have personal agendas and egos that get in the way of the progress.

In Florida, a title company or an Attorney can process your closing, and many title companies are owned or operated by Attorneys.   Each County can have a different standard where the seller or the buyer pays for the title insurance, so they get to select the attorney or title co. first.  Then the other side get to decide if they want to use the same title co. or in some cases hire a separate attorney.  Attorneys & Title Companies provide the same basic services, which include working with the lender to ensure a timely closing, ordering surveys, ordering lien searches to be sure there are no outstanding permits or code violations, ordering estoppel to be sure there are no special assessments or past due payments due and ordering sellers’ payoffs.  The major difference is that an attorney can represent the Buyer in the transaction – a title company cannot. 

The main goal of the title company and real estate attorney is to ensure clean insurable title to the new homeowner, free of any liens so you can begin ownership with a clean slate.

 

Article was submitted by: Joy Carter of Prudential Florida Realty - Joy Carter & Jeff Booker

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