Do I Need a Real Estate Closing Lawyer?

Many people don’t think they need a lawyer at a residential real estate closing because they’re just signing papers. This assessment is partially true. In Florida, an escrow or title agent handles most basic closing procedures. So, in many cases, people who are making small, uncomplicated purchases, like starter homes in ready-to-occupy condition, frequently don’t need lawyers at real estate closings.

Escrow and title agents don’t represent sellers. These agents want to sell the house to somebody, not necessarily the purchaser who shows up at closing. A St. Petersburg real estate lawyer, on the other hand, represents the purchaser who’s sitting at the table. This fact alone gives purchasers priceless peace of mind. Furthermore, if anything goes sideways, a St. Petersburg real estate lawyer is there to provide solid legal advice and, if necessary, aggressive representation.

Situations That Require a Lawyer

Florida home buyers need lawyers if they’re first-time buyers, the transaction is complex, and/or the buyers are out of state.

The paperwork at a real estate closing is not a matter of sign here, initial here, and claim your keys. Real estate closing paperwork is sign here, and here, and here, and here, and, well, you get the idea. That mountain of paperwork is enough shock and awe to overwhelm almost anyone. The effect is particularly bad if the buyer isn’t a native English speaker with a law school education.

A closing is almost impossible to undo. If buyers sign papers they don’t fully understand, they’re stuck with the promises they make.

Usually, a complex residential real estate transaction is anything beyond purchasing a small starter home for under $250,000 that’s never been occupied before. Such transactions are few and far between. A St. Petersburg real estate lawyer is intimately familiar with liens, easements, homeowners association procedures, and other such matters that many nonlawyers know little or nothing about.

A house is usually a good investment, whether the purchaser plans to live in the house forever, live there a short time, or use it as an Airbnb or other investment property. Out-of-state buyers, and even out-of-county buyers, are usually unfamiliar with local patterns and procedures. In these situations, a lawyer is basically a personal representative.

Finding the Best St. Petersburg Real Estate Lawyer

Alas, many lawyers think they can handle real estate closing matters, since they only watch buyers sign papers, or so they believe. But a good lawyer is more than a babysitter. A good lawyer must have the right combination of:

• Dedication: The best lawyer is dedicated to the cause and the client. A lawyer should care about the right of a buyer to make a fully informed and completely voluntary purchase. A lawyer should also want that property to be the right property for that person at that time.
• Experience: As mentioned, attending a real estate closing involves more than watching people sign papers. A St. Petersburg real estate lawyer must know what to do, and what not to do, during a residential real estate closing. Such lessons cannot be learned in school.
• Accessibility: Lawyers should be professionally and personally accessible. In the run-up to a closing, your lawyer, not a legal assistant, should promptly address your questions, comments, and concerns. Furthermore, the lawyer’s office should be conveniently located.

We’ve focused on residential transactions. Having a lawyer is a good idea in a residential transaction and an absolute must-have during a commercial transaction.

Contact a Diligent Sarasota County Lawyer

The essential estate planning process isn’t as complicated as many people believe it is. For a confidential consultation with an experienced estate planning lawyer in Lakewood Ranch, contact Drude Tomori Law. Virtual, home, and after-hours visits are available.

Source:

leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0400-0499/0475/Sections/0475.709.html