Florida law does not require an attorney to be present at real estate closings. Buyers can secure a mortgage and move through the closing process without legal counsel, but is it a good idea?
No, not really – if for no other reason than to ensure that one of the biggest investments most people make in their lives will remain theirs for as long as they choose to own it. If you have questions about the role attorneys play in real estate transactions, here are some specific ways they help reduce risk and protect your rights and interests.
What Role Do Attorneys Play in Real Estate Closings?
In Florida, real estate transactions are often facilitated by title companies, real estate agents and real estate attorneys. While the law doesn’t mandate attorney involvement, many parties choose to engage an attorney because the stakes are simply too high not to. Because each property in Florida is unique, buying a new home presents a lot of risk for investors.
The property could be a foreclosed home, it could have a less-than-ideal inspection history, it may contain defects that are not disclosed, the title history could be in question, and the list goes on. The more complicated the transaction, the more imperative it is to have a lawyer at your side.
When you engage a real estate lawyer, you are hiring them to act on your behalf and serve as your fiduciary. That means they must ensure your rights and best interests remain front and center. Attorneys do this by providing legal advice, reviewing contracts, and addressing specific legal issues that may arise during the transaction. One concern some people have about contacting a real estate lawyer is they worry it will be too expensive.
The truth is it’s far cheaper to protect yourself upfront against potential legal issues than it is to pay for lengthy litigation, or worse – lose your home due to a title dispute. Buying a home without a lawyer at your side could lead to serious ownership issues down the road. If you are purchasing real estate in Florida, we strongly encourage you to consider the risks and benefits of going it alone.
The easiest way to reduce your risks and protect your interests is by turning to our team at the Law Offices of Alex D. Sirulnik, P.A. and ADS Title Services, Inc. To learn more about how we can help you, contact us to request a free consultation.
