The Standard AS-IS Residential Contract for the Sale and Purchase is the common form prepared by a Florida Realtor to govern a Transaction. It is a contract between a buyer and a seller that is legally binding on signing and controls the Purchase and sale of real estate. The contract spells out the terms of the sale and the expectations for both sides. So, before you sign your purchase agreement, you should make sure it is understood and accurately documents your understanding and expectations by having an experienced real estate closing attorney review the document on your behalf.
Mark T. Stern has over 20 years of experience as a real estate closing attorney. He is Secure Settlement certified and an approved title agent for several National Title Insurance Companies. He has represented buyers, sellers, and lenders in thousands of real estate transactions. He knows these contracts and how to make sure your interests are being protected.
Why You Need a Real Estate Closing Attorney
A lawyer who handles real estate closings will review and discuss your purchase agreement with you to make sure it has everything you need before you sign it. Additionally, the attorney will verify that the contract is legally binding and enforceable. If you don’t have a qualified lawyer look over your purchase agreement, you may sign away important rights or be accepting terms that aren’t in your best interest or expectations.
What is the difference between a real estate attorney and a title company?
A title company provides title insurance and may act as a closing agent. On the other hand, a real estate attorney works for either the buyer or the seller and helps ensure that their interests are protected throughout the process. To make sure the transaction goes as smoothly as possible you should have an experienced real estate closing attorney on your team. Real Estate attorneys perform all of the services of a title company plus they protect your interests providing guidance and advice beyond what a title company is legally allowed to do typically at relatively the same cost of what a title company charges.
STEPS NEEDED TO CLOSE A REAL ESTATE TRANSACTION IN FLORIDA
Several steps must be completed to close a real estate transaction in Florida.
1) The buyer and seller must execute a purchase agreement;
2) The buyer must obtain financing or provide proof of funds;
3) A title search, lien search and survey must be conducted;
4) The property condition must be inspected (or accepted as-is);
5) The parties must participate in a closing where all documents will be signed, final funds exchanged, and title transferred.
Conclusion:
Purchasing a home is one of the most significant financial decisions you will make. Having an experienced professional on your side is important to protect your interests and help guide you through the process. Mark T. Stern has over 20 years of experience as a real estate closing attorney and would be happy to answer any questions you may have about purchase agreements or any other aspect of the home-buying process. Located in Lauderdale-By-The-Sea, Fort Lauderdale, Broward County, Florida and servicing all of Florida. Contact his office today to schedule a consultation!