While it is not obligatory to hire a real estate transactions lawyer when buying or selling property, be it residential or commercial, it is always a good idea to have legal counsel. Additionally, because real estate transactions in the State of Florida are a multi-step multi-party process, it is best to be guided with the help of legal counsel. For a stress-free and successful transaction, hiring a residential or commercial real estate transactions lawyer is a smart move. 

Why Not Leave It Up To The Realtor?

Most often, real estate agents bring together buyers and sellers. They have insight into different neighbourhoods and areas, will carry out market analysis of property values, and can spot potential shortcomings regarding the details of the property transaction. On top of that, realtors typically have sufficient knowledge of real estate transactions law in Florida to: 

  • Negotiate and tender offers between buyers and sellers 
  • Sort out the value of repairs or upgrades 
  • Thrash out the terms 
  • Draw up a contract for purchase and sale. 

Real estate agents, closing agents, and title companies are typically consideredtransactional agents” that do not legally represent one party or the other. Typically because they are not trained and licensed attorneys, they cannot provide any legal advice during a real estate transaction. 

Buyers and sellers often don’t realize that many real estate contracts include clauses that are specifically drafted to protect agents in case they are called out for giving incorrect advice. For this reason, as either a buyer or seller in a transaction, you should be represented by legal counsel to review the documents before you sign them and to attend closing to ensure that the process goes without complications and is as smooth as possible. 

What Does a Real Estate Transactions Lawyer Do? 

While Sokoloff and Weinstein, P.A. is NOT a title company or closing agent involved in the preparation of title insurance commitments, title searches, open permit searches, or title insurance policies themselves, we often review the paperwork involved in these transactions. In fact, when we represent you, for example, we look to have the standard title exceptions removed or marked as satisfied from the commitment at closing, which carries over to the final title policy. 

Keep in mind that contracts can be prepared with either the Seller or Buyer in mind depending on who the attorney reviewing such represents.

For our clients who are buyers, during the closing process we assist in the review of seller’s documents such as a warranty deed, bill of sale, FIRPTA rider, affidavit of no lien, ALTA closing disclosure statements, etc. 

For our clients who are sellers, we can also review financing or mortgage documents such as a mortgage, promissory note, PUD Rider, homeowner’s documents including declaration of covenants and restrictions, etc. 

With nearly 30 years of experience, we have the experience to pick up the many negatives that can go into these documents, for example, pre-payment penalties, acceleration of mortgage clauses, balloon payments, negative amortization, restrictive covenants, and more. 

When you hire a real estate transactions attorney from Sokoloff and Weinstein, P.A., you can also receive legal counsel regarding: 

  • The preparation and review of leases 
  • As-is contracts for purchase and sale 
  • Full warranty contracts for purchase and sale 
  • Power of attorney for real estate transactions 
  • Contracts on vacant land 
  • Builder’s contracts. 

To book an appointment with a specialist real estate transactions lawyer, contact Sokoloff and Weinstein, P.A. today.