HomeBusinessAttorney or no attorney...

Attorney or no attorney – that is the question

Something real estate brokers learn early on if they happen to move from one state to another is that the culture of buying and selling real estate varies. Some states call signing a contract of sale “going to escrow” and some call it “getting into contract.” Whatever it’s called, it all means the same thing – signing legal documents that will have a lasting effect on your life.

Living in the Northeast, in what is generally called the tri-state areas of New York, New Jersey and Connecticut, the culture to buy and sell real estate is to immediately hire an attorney. Real estate agents generally do not generate the contract of sale, they don’t talk to the attorney for the other party to the contract and they do nothing more at a closing than collect their checks.

In Florida, it’s entirely different. The state of Florida does not require an attorney for real estate transactions, and this was typically the way properties were closed for many years. Real estate brokers drew up the contract of sale, as they still do, then title companies took over to verify clear title and conduct the closing.

Well as we say, Florida is no longer your parents’ Florida, and although plenty of real estate transactions are still closed without attorney representation, more and more buyers and sellers are asking for legal advice. Much of this has to do with the increased value of the properties being sold, making one of life’s most significant transactions a much bigger risk.

If you decide to use only a title company, it’s the company’s job to make sure the property has a clear title to be conveyed without any easements or liens. And it will certainly review the contract of sale and the mortgage papers to make sure they are correct. However, their employees are not attorneys and are not fully responsible.

Just like in attorney-driven states, a Florida attorney will review the contract of sale, monitor contractual deadlines, including payment of escrow and mortgage commitments. Like title companies, the attorney will review closing documents as well as the title report. An attorney can also give you advice if there is an issue on a property inspection that could delay the process. And, of course, if you purchase a property privately or sell privately without a broker involved, an attorney is important.

If you choose to hire an attorney, he or she will, of course, hire a title company to check the property’s title. Many attorneys in Florida also have title companies as part of their practice and do the work themselves. Nevertheless, there will be an additional fee for their legal services, and that is one of the decisions you must make when evaluating risk.

Since many properties in Florida are purchased as second homes, frequently buyers and sellers never meet each other, and the entire transaction is accomplished online and by mail. In a situation like this, having someone locally who is looking out for your interests could be very beneficial and relaxing.

There is no right or wrong way to close a property, and your decision may also be influenced by the value of the property. Title companies do a fine job and experienced real estate professionals are adept at drawing up the contract of sale, and they should all be considered part of the transaction team.

However, we do live in a time when people sue one another for the smallest discrepancies, real or perceived, so it’s really about being protected. We’re not your father’s Florida anymore, and that’s a good thing.

More Castles in the Sand:

Honesty is the best policy – especially in real estate

Why aren’t you moving?

Why are you moving?

Most Popular

More from Author

Declutter, depersonalize, clean

After perusing what I like to consider my very organized database...

Winter of the big freeze

You should have warmed up from the unusually cold Florida winter....

Are mortgage rates really going down?

Did we ever think this day would arrive? Those in the...

Insurance premiums painful

There are few things related to the real estate industry that...

Mangrove jurisdiction differs by county

ANNA MARIA – The outcome of the removal of 116 feet of mangroves to build a seawall at a Gull Drive home may have been different if the property had been located in Sarasota County instead of Manatee County. A contractor removed some of the mangroves prior to...

Bunny & Pirates Bazaar to close soon

CORTEZ – The closing of Bunny & Pirates Bazaar is imminent, but not by the choice of owners Elizabeth Shore and Jeffrey O’Connell. The news of the closing was announced by the two business owners on Facebook on March 16, two days after a notice to vacate was...

Anna Maria responds to county consolidation option

ANNA MARIA – The city of Anna Maria has responded to a March 5 request for information from OPPAGA regarding the potential consolidation and annexation of the city into Manatee County. The cities of Holmes Beach and Bradenton Beach received similar requests from the Office of Program Policy...

Jewelry Sale offers great deals for a great cause

HOLMES BEACH - For the second year in a row, the Anna Maria Island community has shown incredible support for the Island Branch Library. The Friends of the Island Library (FIL), a group of volunteers dedicated to fundraising and support for the library, held their second annual...

Ellen Scott celebrated

BRADENTON BEACH – Family and friends joyously celebrated the life and legacy of longtime Braden­ton Beach resident and honorary Privateer Ellen Scott at the Drift In on Saturday, March 16. Ellen passed away on March 1 at the age of 85. Ellen’s son, Bob Slicker, thanked those in...

Anna Maria increasing vacation rental registration fees

ANNA MARIA – The city is increasing its occupancy-based annual vacation rental registration fee from $84.17 to $93.92 per occupant allowed by the local vacation rental ordinance. The annual registration fee is estab­lished each year by the adoption of a city commission-approved resolution. The increased fees were established...

City Park renamed Jan Vosburgh Park

BRADENTON BEACH – The park across the street from city hall, referred to only as City Park, will be renamed after longtime City Commissioner Jan Vosburgh. The discussion of the naming of the beach access park just south of the Beach House parking lot was introduced at the...

Bird Tips

During bird nesting season, March through August, please follow these tips: Never touch a shorebird chick, even if it’s wandering outside a staked nesting area. Teach kids not to chase birds – if they’re disturbed, bird parents may abandon nests. Don’t feed birds – our food is...

Government calendar

Anna Maria 10005 Gulf Drive For information, call 941-708-6130 Please visit www.cityofannamaria.com or contact city hall for more information. March 21, 1 p.m. – Charter Review meeting March 28, 6 p.m. – City Commission meeting March 29, all day – City offices closed, Good Friday   Bradenton Beach 107 Gulf Drive N. For information, call 941-778-1005 Please visit...

Beach Nutz

       

Events

Wednesday, March 20 Creative Aging: Figure Drawing, Island Branch Library, 5701 Marina Drive, Holmes Beach, 10 a.m. Holy Yoga, Roser Church outdoor stage, 512 Pine Ave., Anna Maria, 11:30 a.m. Nature Art, Robinson Preserve Mosaic Nest, 840 99th St. N.W., Bradenton, 1 p.m., $10 Coral Reef Science with Mote, Island Branch...