A real estate transaction is the process that occurs when a seller offers their home for sale, and a buyer agrees to purchase that property.
There are many steps involved in buying a house, and the steps vary depending on the type of transaction and state regulations. Before the closing can take place, and before the title of the property transfers to the buyer, a multitude of activities and tasks must be completed on time.
Some items that need to be taken care during a real estate transaction include:
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Despite Florida law not requiring either party to a residential real estate transaction to hire a real estate attorney, doing so has undeniable benefits. While most real estate negotiations in Florida involve only the parties’ real estate agents, hiring a Florida real estate attorney not only serves to protect each party’s interests but also expedites the entire process and helps to streamline the contract negotiation, the closing process, securing title insurance and communicating with lenders.
In addition to being able to handle the more complicated matters that develop, an attorney may also help both the buyer and seller of Florida residential real estate to ensure that all contracts are drafted to suit their personal objectives, that they only sign documents that they are legally obligated to sign, that they are not affected by any liens that are discovered throughout the title search process, as well as, a host of other legal issues that regularly arise in real estate transactions. However, to guarantee each party’s rights are being fully protected, an attorney may not represent more than one party to any given transaction.
