When it is done right, buying and selling Florida real estate can be a pleasant and even lucrative experience. When it is done wrong, however, it can have disastrous consequences. One of the best ways to help ensure the success of this type of venture is to have the assistance of an experienced Florida real estate attorney. Here are some of the dangers of not having counsel during your Florida real estate transaction:
Inadequate Legal Documents
Your real estate transaction will involve multiple legal documents. Items such as the purchase contract and seller’s disclosure contain vital terms that are binding on the parties. If certain language is omitted or the wrong phrases are used, there could be dire consequences. The legal documents involved in your transaction are your protection in the event something goes wrong during the process, or if the other party fails to uphold his or her side of the bargain. Without counsel, you risk signing documents that fail to provide the necessary safeguards for your interests. Additionally, if your documents are not complete or are inaccurate, you may not be able to effectuate the transfer of your property at closing. Your real estate attorney can help make sure everything is proper, in your best interests, and in order.
Negotiations
Your real estate transaction will involve a series of negotiations. Whether you are trying to buy a home or lease commercial property, it’s critical to know which terms are reasonable to request. Otherwise, you could end up in a stalemate over certain issues, or agreeing to something unfavorable. When you have real estate counsel, he or she will be able to negotiate appropriate terms and advocate for your best interests throughout your transaction.
Title Problems
When you are buying property, it’s essential to know about any problems with the title before completing your transaction. The seller will convey a specific type of deed that reflects the title’s status. For instance, a quitclaim deed is a type of deed that conveys property without assurances as to other liens or property interests. Those claiming to have rights to the title or “clouds” can be a real problem. If you are not careful, you could make incorrect guarantees as a seller or unknowingly accept property with title conflicts. Your attorney can assist with making sure the right type of deed is used and that a title search is conducted correctly before the transaction is completed.
When you are involved in a real estate transaction, you need to be sure that your interests are protected and that your actions and documents comply with Florida law. Guy Rabideau, Esq. and David E. Klein, Esq. are Florida Board-Certified Real Estate Attorneys with the experience you need to evaluate all legal aspects of your real estate property transaction. Contact Rabideau Klein today to discuss your real estate legal needs.