how to have an attorney handle your real estate transaction

How do I find a real estate lawyer?

Jul 05, 2017 · Identifying the specific nature of your real estate transaction and potential or actual legal issue is the first step in finding an attorney that is the right fit for you. Many real estate lawyers specialize in one or two aspects of the law, so you’ll want to find a lawyer who is familiar with your particular issue.

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

Apr 18, 2016 · After the contract is executed a real estate attorney can help explain the results of the title examination, handle any title problems that might be revealed or might arise, and draft all necessary title insurance and closing documents to bring you successfully to closing, again, in many cases for the same price or less than a title company might charge.

What does a real estate attorney do when selling a house?

How to find the right real estate attorney. Like any professional relationship, finding the right representative is key. Here are two common ways sellers find their real estate lawyers. 1. Referrals. From your agent: Experienced real estate agents often have a list of attorneys they work with regularly and recommend. They may even have a referral for an attorney who is an …

Can I use a power of attorney for a real estate transaction?

May 26, 2020 · Real estate deeds are filed in the county the property is located. Your attorney will handle the filings and provide you with a packet containing copies of all of your paperwork, as well as an explanation of what paperwork you can expect to receive after it has been fully processed. Technically, unless you hire an Attorney to represent you, no one else. participating …

How to Find a Lawyer for Your Real Estate Transaction or Claim

If you are involved in a real estate transaction, you likely need to consult with a real estate lawyer. Not only do real property transactions generally involve valuable assets, but real estate is a particularly complicated area of law.

How to Find Real Estate Lawyers in Your Area

One of the most common ways to find a trusted attorney is through a personal recommendation from someone who has dealt with a similar real estate transaction or claim. For commercial real estate, ask colleagues in your industry for a referral. For residential transactions and claims, seek out friends and neighbors with recent experiences.

How to Research Candidates

Once you have the names of a few real estate attorneys who practice in your area, you’ll want to spend some time online researching the candidates. The attorney’s website or the bar association website should list pertinent information like licenses, bar membership status, affiliations, specialty areas, years of experience, and any awards.

How to Interview and Hire a Real Estate Attorney

Even if an attorney looks great on paper, you’ll want to conduct interviews with a few candidates before you make any decisions. If an attorney is unresponsive to your inquiries, take that as a sign to keep looking. Your specific questions for potential attorneys will be dependent on your issue, but in general, you’ll want to ask about following:

What is a real estate attorney?

Real estate attorneys help oversee home sales, from the moment the contract is signed through the negotiating period (aptly called the “attorney review”) to closing. A seller’s attorney reviews sales contracts, communicates terms in a professional manner and attends closings to prevent mishaps. Selling a home is a complex process ...

Why do you need an attorney for real estate?

An attorney helps you protect your investment and assets while ensuring you’re conducting your side of the transaction legally — which can prevent costly missteps. Real estate attorneys are required in many states, but even if you aren’t legally required to use an attorney while selling, it can be a good idea.

How much does a real estate attorney charge?

How much does a real estate attorney cost? How much you’ll pay for real estate attorney fees depends on your market and how involved they are in the transaction, but they typically charge a flat rate of $800 to $1,200 per transaction. Some attorneys charge hourly, ranging from $150 to $350 per hour.

What to do if you inherited a home?

An attorney can help you navigate the complexities. Estate sale: If you inherited the home you’re selling, hiring an attorney to sort through ownership documents can ease the burden, which is especially helpful when you’re grieving the loss of a family member.

What is the job of a home inspector?

Their job is to make sure the buyer knows about everything that may need to be repaired on the home. Sellers also sometimes hire an inspector to do a pre-inspection so they can make any necessary repairs before putting the house on the market.

Do you need an attorney for a closing?

In 21 states and the District of Columbia, attorneys are legally required as part of the closing process. Attorney-required states include: As a best practice, if the other party in your transaction has a lawyer representing them and supporting their best interests, you should too.

Why is it important to have a lawyer for your home?

Having legal counsel makes good sense because of the challenges that come with choosing and ultimately buying a home. An experienced, competent Real Estate Attorney can help to protect your interests from the very beginning by ensuring that your real estate transaction adheres to the applicable rules of your state/municipality.

Where are real estate deeds filed?

Real estate deeds are filed in the county the property is located. Your attorney will handle the filings and provide you with a packet containing copies of all of your paperwork, as well as an explanation of what paperwork you can expect to receive after it has been fully processed.

Is a contract for a home purchase binding?

The terms of your home purchase must be properly memorialized in a contract for them to be legally binding. Your attorney will assist with this process by not only negotiating on your behalf, but also by making sure that the contract adheres to all state and local laws.

How do I find a good real estate attorney?

The best way to find a good real estate attorney is through a referral from someone who has worked with this person before and recommends them highly. Like Cowart, your real estate agent can suggest attorneys they trust.

What questions should I ask a real estate attorney?

Before you hire a real estate attorney, our experts say to ask: 1 How many transactions do you handle a year? 2 How do you charge (by the hour or a flat fee)? Do you have a retainer? 3 What does your fee include? 4 What if my property has title issues, or a buyer whose financing falls through? (Ask your real estate agent about other potential problems so you can gauge the attorney’s response.) 5 Can you supply references (such as other real estate agents who have worked with the attorney, or clients who wouldn’t mind speaking with you)?

What to do if you are behind on your mortgage payments?

If you’ve fallen behind on your mortgage payments, a real estate attorney is a good resource to help you navigate the details of these transactions. Your lender or bank has to approve your short sale, so you’ ll have to provide detailed records supporting your financial hardship.

How can an attorney help you?

An attorney can help you by: Representing you at a foreclosure auction or when filing bankruptcy. Sifting through the contents of short sale documents. Explaining your personal liability after completing a short sale. Understanding whether your remaining debt will be forgiven, taxed, or require augmented payments.

Who does the title work for a home buyer?

Top-selling real estate agent Teresa Cowart of Richmond Hill, Georgia shares that in her market, the homebuyer hires the attorney, who technically works for the lender and handles the title work. However, the buyer can negotiate for the seller to pay the cost, Cowart says. She’ll encourage sellers to hire an attorney if they’re selling their home on their own or if there’s not a lender involved, such as in a cash deal.

What is earnest money deposit?

An earnest money deposit is a buyer’s good-faith gesture that they’re serious about buying your home; it counts toward the down payment. But if they breach the agreement after you’ve fulfilled all the contingencies or fail to meet deadlines set out in the contract, a seller could get to keep this deposit.

Can a real estate attorney help with divorce?

A divorce decree has its own complicated stipulations. Although an agent with experience in divorce sales can be helpful , a real estate attorney also can provide valuable advice regarding your state’s property division laws.

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.

What is a Florida real estate attorney?

A Florida real estate attorney can explain the ramifications of signing, under penalties of perjury, any of the 100+ types of affidavits that are used to address common title issues.

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.

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.

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:

How many witnesses do you need to sign a power of attorney in Florida?

To create a valid power of attorney in Florida, two witnesses and a notary public must also sign the document.

Who is the principal of a Florida power of attorney?

The person who grants powers under a Florida power of attorney is the principal . Each individual or professional fiduciary authorized to transact business on the principal 's behalf is an attorney-in- fact. When the form is effective, the attorney-in-fact can handle the principal 's affairs, subject to any limitations provided in the power of attorney document.

What is a power of attorney in Florida?

A power of attorney is a legal document that authorizes someone else to transact business in the name of the person granting the power. There are many reasons it could make sense to use a power of attorney for real estate transactions in Florida. When granting authority using a power of attorney, make sure the form you use complies ...

Is LegalZoom legal advice?

The content is not legal advice. The statements and opinions are the expression of author, not LegalZoom, and have not been evaluated by LegalZoom for accuracy, completeness, or changes in the law.

Can a Florida power of attorney be used at closing?

Sometimes, it is not practical for the property owner to attend the real estate closing. In other cases, the property owner may no longer have the mental capacity to handle their own affairs.

How to sell real estate?

From offer to sale, Lang & Raffa, P.A handles all aspects of buying and selling real estate, including construction on property, so that you can feel confident about a smooth and precise transaction. In furtherance of your real estate transaction, we can: 1 Draft or review your sales contract 2 Negotiate real estate agreements 3 Review your lending documents 4 Search and clear titles 5 Analyze your deal and rectify potential problems 6 Handle land use, zoning and permitting 7 Conduct your real estate closing

What is Lang & Raffa?

From offer to sale, Lang & Raffa, P.A handles all aspects of buying and selling real estate, including construction on property, so that you can feel confident about a smooth and precise transaction . In furtherance of your real estate transaction, we can: