Port St. Lucie Real Estate Closings and Title Services Attorney

Buying or selling a home or piece of commercial real estate can be a complicated, often stressful experience. Hiring a Port St. Lucie real estate closings and title services attorney can help simplify the process.

Our experienced real estate attorneys sometimes meet clients who are eager to purchase their first home. Others want to sell a piece of business property or invest in real estate. All of these things require properly-written contracts and other paperwork to ensure everything goes smoothly. Our goal is to take the stress out of the experience for our clients, by assisting them with every step of the sale or purchase.

Steps to Closing a Florida Residential Real Estate Deal

Closing a Florida residential real estate deal is a complex process with several steps:

• Earnest money deposited. When you find a house or condo you wish to buy, you make an offer and provide earnest money to be held by an escrow agent. In some cases, your Florida real estate lawyer may hold the deposit for you.
• Apply for a home loan. You will find a lender and apply for a residential mortgage. Most sale contracts are contingent upon the buyer securing appropriate financing for the purchase.
• Appraisal of the property. A licensed appraiser chosen by your lender (for example, a bank or mortgage company) will examine the property and appraise its value.
• Title insurance. A title insurance agent prepares paperwork showing the owner of the property, according to public records. The agent also lists any liens or encumbrances against the property, and requirements for issuance of the final owner’s title insurance policy.
• Inspection for termites and damage to the property. Florida is a nice place for humans to live, but it is also inviting to termites, so a thorough inspection for termite damage by an experienced professional is essential. The property should also be checked for other types of damage or problems, such as electrical issues, roof damage, pool problems, issues with appliances, etc. Even properties sold “as-is” and expected to be “fixer-uppers” need to be inspected so you, as the buyer, will have an accurate picture of all the things you may need to fix.
• Survey of the property. A real estate surveyor will go over the property to confirm its boundaries and ensure the description is accurate. He or she will also make sure there is access to nearby roadways, and report any encroachments or easements that might present a problem for the new owner.
• Hazard, wind, and flood insurance for the buyer. Depending on the location of the property, your lender may require flood, wind, or other hazard insurance. Your Florida real estate attorney can help you understand the lender’s exact requirements.
• Pre-closing inspection of property. Prior to the closing, you’ll need to do an inspection or walk-through of the property to ensure any agreed-upon repairs have been made, furniture has been removed, and other issues that might affect the closing have been resolved.
• Closing documents prepared and reviewed by buyer and seller. You and your Florida real estate attorney will review a variety of documents that need to be signed—and the seller will be doing the same thing with their attorney. These documents may include a Promissory Note, Warranty Deed, Closing Disclosure, Bill of Sale for any included furnishings, affidavits and other title-clearing documents.
• Money ready for exchange. The earnest money deposit, additional buyer proceeds, and mortgage loan funds will be transferred from the closing agent to the seller, after the buyer is authorized to close the transaction. This usually happens when the lender gives approval to close.

As you can see, the process for buying and selling real estate can be lengthy and without an experienced Florida real estate attorney at your side, it may prove to be a cumbersome and overly time-consuming experience. The attorneys at Apfelbaum Law are ready to help you navigate this process with a team of experienced professionals.

If you have questions or concerns about real estate transactions, title closings, or other Florida legal services, please contact Apfelbaum Law for a consultation. We can be reached at 772-236-4009, or contactus@alawfl.com.