do i need an attorney when purchasing an approved short sales in palm beach florida

Attempting to go through a short sale approval on your home by yourself is not recommended. Using an experienced Florida real estate attorney can make the difference on whether your short sale is ultimately approved or not.

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Do I need a lawyer to buy a house in Florida?

Foreclosure Help? Contact your Short Sale Lawyers in West Palm Beach, Florida at (954) 990-7552. Learn about the Process and how you can protect yourself.

Should I hire an attorney to conduct a Florida real estate closing?

Oct 01, 2010 · Buying a Short Sale - Do I Need a Lawyer I am buying a house on short sale in Palm Beach Gardens, FL in a gated community - the seller (bank) has approved the price and will be providing title insurance. Do you recommend that I hire an attorney to review the title policy and any exceptions? or should i save that money? I'm closing soon.

What legal issues can arise during a South Florida real estate closing?

Using an experienced Florida real estate attorney can make the difference on whether your short sale is ultimately approved or not. Your attorney can also advise whether a short sale is the right option for you or if you should look at other foreclosure alternatives that may be better suited for your situation, including loan modification, deed in lieu, or bankruptcy.

Can a lawyer give legal advice on a survey in Florida?

If you are in need of legal advice for a short sale matter in Stuart, FL or Martin County, Fort Pierce and Port St. Lucie or St. Lucie County, Vero Beach or Indian River County, Okeechobee or Okeechobee County, West Palm Beach or Palm Beach County, or surrounding areas, please call the Stuart, Florida short sale lawyer (real estate lawyer) of Grazi & Gianino now at (772) 286 …

Does Florida require an attorney at closing?

Florida Title Company or Real Estate Lawyer: Who Should Handle Your Closing? Florida does not require an attorney to oversee a residential real estate transaction. A buyer can purchase a home or condo in Florida and get a mortgage without getting legal advice from an attorney.Mar 20, 2018

Does Florida require a real estate attorney?

Under Florida law, a buyer doesn't need a lawyer to complete a real estate transaction. However, retaining an attorney at the beginning of the process often prevents a buyer from taking legal action after the deal is done.

Is Florida an attorney closing state?

Several states have laws on the books mandating the physical presence of an attorney or other types of involvement at real estate closings, including: Alabama, Connecticut, Delaware, District of Columbia, Florida, Georgia, Kansas, Kentucky, Maine, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New ...

How does a short sale work in Florida?

In a short sale, the homeowner and mortgage company agree to sell the home for less than the amount owed on the mortgage. Short sales may be a good option for homeowners who have no equity in the property and want to abandon the home without going through the foreclosure process.

Do buyers have to be present at closing in Florida?

1. Does Florida Require Everyone To Be Present At The Closing Table? ... The good new is, Florida does not require everyone to be at the closing table. When the seller or the buyer are unavailable because they are outside the State, residential closings can be done in what is called a “mail away.”Sep 20, 2020

Is it worth buying property in Florida?

In fact, the Florida real estate market is one of the most profitable investment markets to date. There are many factors to suggest that purchasing Florida investment properties is a rewarding experience. For example, the state offers people with a lucrative return on investment on their properties.

Is Florida a title or attorney state?

Several east coast states are attorney states: Georgia, South Carolina and North Carolina. Some states, such as Florida, are “Title Company States” that do not require an attorney to close loans or purchases as long as the closing includes title insurance.Oct 5, 2020

What does a real estate attorney do for a buyer?

A real estate attorney's role is to ensure the legal transfer of property from seller to buyer. These attorneys handle tasks like preparing or reviewing documents, ensuring that the title is clear and facilitating the transfer of funds.Apr 6, 2021

How do I buy a house without a realtor in Florida?

How To Buy A House Without A Real Estate AgentStep 1: Apply For A Mortgage. ... Step 2: Research The Neighborhood. ... Step 3: Find A Property. ... Step 4: Ask For A Seller's Disclosure. ... Step 5: Make An Offer. ... Step 6: Hire A Lawyer And Home Inspector. ... Step 7: Negotiate. ... Step 8: Finalize Home Financing And Closing.Dec 14, 2021

Why would a short sale be denied?

A short sale is sometimes denied due to something as simple as the seller being current on paying their mortgage. The bank's guidelines might state the bank isn't allowed to approve a short sale if the mortgage payments aren't in arrears.

How long does it take for a short sale to be approved?

A short sale can take up to six months to be approved because many factors can slow the process down. You might be able to reduce the time it takes to be approved by asking your agent for some information before making an offer.

Can you lowball a short sale?

Don't Submit a Low-Ball Offer It's true that short sale properties are often sold at a discount. However, just because the seller is motivated to sell doesn't mean any offer you make will be accepted. It's unlikely that the bank will approve an offer that is less than what they believe they can get for it.Jul 27, 2020

What are the laws for condos in Florida?

There are extensive laws in Florida that relate specifically to condo unit owners and condominiums. Anyone purchasing a Florida condo should know what their rights and duties will be as a condo owner. For instance: 1 will they be able to rent the condo? If so, how often and for how long? 2 Is there an age requirement? 3 Can you have pets? 4 What about storage, parking, and dockage? 5 Can the new owner transfer his or her interest in these elements and who is responsible for the cost to maintain them?

What does the seller have to disclose in Florida?

Under Florida law, the seller must disclose issues regarding the property that the seller knew about, or should have known about, which a buyer would not be able to discover even with an inspection.

Does Florida require a real estate agent?

Florida does not require an attorney to oversee a residential real estate transaction. A buyer can purchase a home or condo in Florida and get a mortgage without getting legal advice from an attorney. A real estate agent can provide standardized contract forms, and a title company can issue title insurance and conduct the closing.

What can a Florida lawyer do?

A Florida lawyer can give legal advice on any adverse matters shown on a survey, like easements encroachments, and other boundary issues such as fence lines and pool decks. 11. Different Ways To Own Real Estate; Different Deeds. In Florida, there are various ways to hold legal ownership of residential real estate.

Can a lawyer read a Florida inspection report?

A Florida lawyer can read the inspection report and the inspection company’s contract to make sure the buyer is adequately protected. Inspections companies like to limit their liability to the cost of the inspection report.

What happens if you hire a real estate attorney in Florida?

If you hire a Florida real estate lawyer, you create an attorney-client relationship and the lawyer is your fiduciary. He or she answers to the party that has hired the lawyer.

Is Florida a legal state for real estate?

A Florida lawyer can explain the pros and cons of these different forms of ownership (tenants in common, tenancy by the entirety, and joint tenants with the right of survivorship) and counsel on the different types of deeds, which include:

What happens if a short sale is approved?

The money paid by the new homeowner is transferred to your lender to help pay off the mortgage. In turn, your mortgage debt is forgiven. If you qualify for HAFA, you are also provided with $3,000 in moving expenses. If not, you can still feel good about no longer having the mortgage debt hanging over you.

How long do you have to wait to buy a house after a short sale?

This is because lenders will see the short sale and consider you a riskier candidate for a mortgage. As such, you’ll typically need to wait four years before purchasing a new home. However, this is much better than the seven years lenders typically expect you to wait after a foreclosure. In the eyes of lenders, short sales are better than foreclosures. They show that you approached the lender and tried to make things right, and paid as much of your mortgage as you could, instead of simply walking away from your home.

Can you sell your home for less than what you owe?

As stated previously, during a short sale you will sell your home for less than what is owed on the mortgage. Due to the fact that your lender currently holds the mortgage and will receive less than what you owe, you must first ask them if you can put your home up for a short sale.

Do you need a real estate agent to sell your home?

Selling your home, regardless of the circumstances, requires a real estate agent. However, you’ll need a real estate agent that is experienced with short sales. Ideally, you should hire someone that is a Certified Distressed Property Expert. This means the real estate agent has completed a course related to short sales and foreclosures.

What is the sales tax rate in Florida?

Florida's general state sales tax rate is 6% with the following exceptions: 4% on amusement machine receipts, 5.5% on the lease or license of commercial real property, and 6.95% on electricity.

How long does Florida have to tax rental properties?

In addition to state sales and use tax and discretionary sales surtax, Florida law allows counties to impose local option transient rental taxes on rentals or leases of accommodations in hotels, motels, apartments, rooming houses, mobile home parks, RV parks, condominiums, or timeshare resorts for a term of six months or less.

When will Florida remit sales tax in 2021?

Effective July 1, 2021, Florida law requires businesses making remote sales into the state to collect and electronically remit sales and use tax, including any applicable discretionary sales surtax, on those transactions if the business has made taxable remote sales in excess of $100,000 over the previous calendar year.

Is Florida sales tax taxable?

Each sale, admission, storage, or rental in Florida is taxable, unless the transaction is exempt. Sales tax is added to the price of taxable goods or services and collected from the purchaser at the time of sale.

What is use tax?

Use tax is due on the use or consumption of taxable goods or services when sales tax was not paid at the time of purchase. For example: If you buy a taxable item in Florida and did not pay sales tax, you owe use tax. If you buy an item tax exempt intending to resell it, and then use the item in your business or for personal use, you owe use tax.

What is surtax in Florida?

Many Florida counties have a discretionary sales surtax (county tax) that applies to most transactions subject to the sales or use tax. The county surtax rate applies to a taxable item or service delivered into a county imposing a surtax. (The surtax rate that applies to motor vehicles and mobile homes is determined by the home address of the purchaser.) For a list of discretionary sales surtax rates, visit the Department's Forms and Publications webpage and select the current year Discretionary Sales Surtax Information (Form DR-15DSS) under the Discretionary Sales Surtax section, updated yearly in November.

What is the Florida Department of Revenue's address database?

The Florida Department of Revenue's Address/Jurisdiction Database identifies the county for addresses in Florida. The database has an address look up feature that can be used to find the sales tax and discretionary sales surtax rate as well as other tax rates for Florida addresses.