Sellers may believe a real estate transaction is essentially complete once they accept a buyer’s offer. Unfortunately, obstacles can present themselves between the time of the accepted offer and the end of the closing meeting that result in significant delays or even termination of the deal.
How often are real estate transactions stalled? Approximately one out of every four real estate transactions are delayed at closing. Sellers can reduce the risk of issues by hiring legal counsel to represent their interests during the closing process. Three specific ways an attorney come help during a real estate transaction in Florida include:
- Documents tailored to your transaction. Instead of using boilerplates, fill in the blank documents, an attorney will draft a purchase agreement specific to your transaction.
- Title Services. A real estate attorney can review the title for the property and help you address any hindrances that may be present. This could include liens taken out by contractors or subcontractors and tax issues.
- Review escrow documents. Generally, your real estate agent fills out escrow documents like a grant deed and state-specific forms. Before you sign these documents, it is often wise to have another professional review the paperwork. An attorney can make sure that you're fully aware of what you are signing, and point out any potential issues.
Although a real estate attorney is helpful in any sale, it is particularly prudent for those who are going through a divorce, selling from a trust or selling to show them to have a real estate attorney to help protect their interests.