| Buying a home for many people may at first | | | | expenses, and many other important matters to |
| appear to be a fairly simple matter but once a | | | | consider. An experienced Florida real estate |
| person has experienced the process of buying a | | | | attorney's involvement during this stage to explain |
| house they quickly learn that there is more | | | | the details, requirements and repercussions of the |
| involved than simply finding the right property, | | | | numerous contractual considerations is extremely |
| signing the purchase and sale agreement and then | | | | valuable. |
| proceeding towards closing. There are many | | | | Status of Title: |
| different steps involved in buying and home and | | | | In order to close on a property it is necessary |
| many buyers often experience uncertainty or | | | | that there be a clear and marketable title. A title |
| even fear during the purchase process. However, | | | | search report is ordered from a title insurance |
| an experienced Florida real estate lawyer can | | | | company and will list any violations or title clouds |
| carefully guide the buyer through the entire | | | | against the seller and the property the buyer is |
| purchase process and look out for the buyer's | | | | purchasing. Violations against the seller customarily |
| best interest. The following describes the various | | | | include judgments and the title clouds that may |
| steps in the purchase process and how a Florida | | | | show up on a house are lis pendens, liens, |
| real estate attorney customarily assists the buyer | | | | judgments and fines for municipal code violations. |
| during each step. | | | | An experienced Florida real estate attorney will |
| Pre-Contract Negotiation: | | | | review the title search report and the information |
| Although engaging the services of a real estate | | | | contained therein to make sure the status of the |
| lawyer is not absolutely necessary during the | | | | title is clear before moving forward with the |
| pre-contract negotiation phase of a real estate | | | | purchase of the home, and will take all necessary |
| purchase transaction, it can be helpful for the | | | | actions in order to clear any title clouds prior to |
| buyer to speak with attorney if the buyer has | | | | closing. |
| any questions regarding the purchase price and | | | | Survey: |
| any tax related issues that the buyer may be | | | | Although almost always required by the buyer's |
| concerned with. Speaking with an experienced | | | | lender when the buyer is financing his or her |
| Florida real estate attorney about the buyer's | | | | purchase, even in all cash transactions it is |
| concerns and questions during the pre-contract | | | | essential that a survey is ordered for the |
| negotiation phase will give the buyer the | | | | property and carefully reviewed prior to closing. |
| opportunity to address a situation prior to the | | | | Knowing where the property lines are and the |
| buyer being bound to a contract to purchase a | | | | existence of any encroachments is extremely |
| home and will provide comfort to the buyer | | | | important when buying a home. A survey will |
| regarding certain questions that the buyer may | | | | assist to determine whether everything that the |
| have about the pending home purchase. | | | | buyer is purchasing is within the property lines. |
| Contract of Sale: | | | | The buyer's real estate attorney will order a |
| Although in Florida many residential purchase | | | | survey for the buyer and have it certified to the |
| contracts are standard form contracts with | | | | buyer. The buyer's real estate attorney will explain |
| "check the box" options such as the FAR contract | | | | all of the findings of the survey and will be able to |
| and the FAR/BAR contract, a contract of sale is | | | | answer any questions that the buyer may have |
| not a simple document and should not be viewed | | | | regarding the items depicted on the survey. |
| as such. It is critical for a Florida real estate | | | | Closing: |
| attorney to be involved during the preparation of | | | | The final step in every real estate purchase that |
| the contract of sale to properly advise the buyer | | | | the buyer's real estate attorney will be heavily |
| before the buyer becomes forever bound by the | | | | involved in is the closing of title. Closing is where |
| terms of the contract. A Florida contract of sale | | | | the deed to the property is signed and delivered |
| contains many different details associated with | | | | to the buyer transferring ownership of the |
| the purchase of the home and although the real | | | | property to the buyer. Having an experienced |
| estate agent is normally the person who prepares | | | | Florida real estate attorney present at closing will |
| the contract of sale, the buyer's attorney is the | | | | ensure that all of the closing documents are |
| one who will sit down with the buyer to explain | | | | accurate and properly executed. The buyer's real |
| everything the buyer will need to know about | | | | estate attorney will answer any questions the |
| what the buyer is signing and what it means for | | | | buyer may have which relate to the purchase |
| the buyer. A real estate contract of sale usually | | | | transaction and/or the closing documents. Finally, |
| includes many important factors such as: what | | | | the buyer's real estate attorney will make sure |
| real and personal property are included in the sale, | | | | that the buyer's purchase funds go to the right |
| the purchase price, the amount of the deposit | | | | place. |
| which is to be paid, where same will be held in | | | | The information in this article is of a general |
| escrow and what the provisions of the escrow | | | | nature only and is not intended to be relied upon |
| are, how many days the buyer has to obtain a | | | | as, nor a substitute for, specific professional |
| loan commitment and what happens in the event | | | | advice. No responsibility for the loss occasioned to |
| that the buyer is unable to obtain a loan | | | | any purpose acting on or refraining from action as |
| commitment, what will happen if any damages to | | | | a result of any material in this publication can be |
| the house are present or any major repairs are | | | | accepted. |
| required, the requirement of a clear title in order | | | | The hiring of a lawyer is an important decision |
| for closing to occur and what will happen if there | | | | that should not be based solely on |
| is an issue that can not be cleared on the title, | | | | advertisements. Before you decide, ask us to |
| when the closing date is scheduled to be, what | | | | send you free written information about our |
| happens if the seller is not ready to close and the | | | | qualifications and experience. |
| buyer is, the allocation of closing costs and | | | | |