19 Reasons To Hire a Real Estate Lawyer When Buying or Selling Florida Real Estate

Posted By on April 15, 2014

Last Update: 02/24/16

In Florida, particularly South Florida, families want to own a home; retirees want to buy a condo or townhouse; investors from around the country and world want investment property, including rentals; and vacation homes in or near the water are a dream of almost everyone. For most buyers, the purchase of a home, condo, or vacation property is one of the most important purchases they’ll make and a major financial event in their lives.

Regardless of where they reside (here, another state, another country), Florida law will control their purchase. Each transaction will have its own quirks and unique characteristics, of course: homeowners’ association restrictions; environmental requirements; etc. So, if you’re buying or selling property here in beautiful Florida, hiring a real estate lawyer can protect you as well as help you close the deal without a hitch.

Thus the question; When will a Florida real estate lawyer be helpful? Consider these 19 thoughtful reasons for hiring a Florida real estate attorney.

19 Reasons to Hire a Real Estate Lawyer When Buying or Selling Real Estate in Florida

1. Does the property have illegal additions or illegal improvements? Buyers need to know if local codes and state regulations have been followed, and if they haven’t, what to do about it (before or after closing or should the closing occur).  What happens if a buyer is required to remove an illegal addition after closing?  Does the Seller have a duty to disclose an illegal addition to the buyer?  What are the buyer’s rights after the closing?  Can the buyer sue for damages or seek to rescind the transaction?

2. Are you buying or selling a house with a non-cooperative partner or co-owner?  You need to know if a Partition action may be necessary under Florida law.  Will one co-owner need to sue his/her partner in order to complete the sale of the property?

3. Are you an out of town buyer? If you’re from another part of Florida, or from another state or country, then you may not be aware of specific municipal, county, state, or even federal regulations that apply to you and the property.  Are there tax withholding requirements?  If so, are there exemptions that apply that would alleviate the tax withholding?  Who pays for transfer taxes and how much are they?

4. You don’t trust or have lost confidence in your real estate agent or the closing agent/title company. Often, hunches prove true: if you have lost trust in these professionals, you need to know their legal duties to you and what to do if they’re failing you in some way.

5. Are you buying a property that is a short sale or bank owned? REO properties and short sales involve special conditions and a Florida real estate lawyer with foreclosure defense experience can be invaluable to you in negotiating with the bank and reviewing the title work to insure that you are receiving marketable and/or insurable title.

6. Are you buying or selling a property that is part of a trust or a probate administration? Here, a trustee or personal representative will be representing the interests of the beneficiaries or heirs, and creditors, and having a Florida real estate lawyer will help in jumping the hurdles of trust law and probate court.

7. Are you buying commercial property (apartment building, warehouse or shopping plaza)? Any commercial real estate transaction involves complications not seen in simpler residential real estate deals; having a Florida real estate lawyer is important here because of additional legal issues including easements, corporate ownership, leaseholds, environmental issues, structured financing, tenant claims, and more.

8. Are you buying a property that could have structural issues? Florida real estate lawyers can help buyers who need to perform inspections to learn about the condition of the property prior to purchase as well as seller disclosure responsibilities under Florida law.

9. Are you concerned the property won’t appraise for the purchase price? Appraisals can be challenging, and different appraisers may have different results; a Florida real estate lawyer can help buyers and sellers determine what to do, or recommend contract clauses to address appraisal issues,  if there are varying appraisal valuations or if the property appraises for less than the contract price.

10. Do you want an attorney to hold your deposit just in case there is a problem with the transaction? Florida lawyers can act as escrow agents. Do you want a third party holding the earnest money deposit(s)?

11. Are you concerned that you may not qualify for financing and you may lose your deposit? A Florida real estate attorney can suggest contract clauses to address this issue, including returning the deposit to the buyer if the buyer is unable to obtain prevailing market financing.

12. Are you concerned the seller and/or real estate agent aren’t telling you something about the property? Not every seller or real estate agent is honest and above-board; if you are suspicious, then a Florida real estate lawyer can help you get to the bottom of things or suggest contact language to address these concerns.

13. As the seller, do you feel that something could go wrong based on knowledge you have about the property? Florida law defines a seller’s duties to the buyer and to the property, and a Florida lawyer can explain them to the seller as well as the ramifications down the road if the buyer has a problem and wants to hold the seller responsible.

14. Do you have judgments or liens against you? Florida real estate lawyers can help you here by explaining the affect of a lien.  Is the property being sold Homestead property?  If so, there are procedures a seller can take in order to complete the transaction even if there are judgments.

15. Do you want someone to tell your real estate agent that you don’t want to pay their “administrative fee”? Having a lawyer means that the attorney can speak for you.

16. Does a tenant have to be evicted? Florida landlord-tenant law is detailed, and landlords/property sellers must be careful to conform to the law.  Are you a buyer purchasing a property with an existing tenant?  What are the buyer’s obligations to the tenant in this situation?  What happens to the security deposit and advanced rent?  Does the tenant have claims against the old landlord which are now the problem for the new owner?

17. Do you what to make sure when you arrive at the closing the title company doesn’t require you to sign documents that you are not obligated to sign under the Real Estate Contract? An experienced Florida real estate lawyer will review the closing documentation and advise the Buyer, and seller, if they are required to sign all of the documents presented by the title company, including cooperation agreements, utility hold-back and tax re-proration agreements.

18. Do you want an objective 3rd party reviewing the seller documents, mortgage documents and the closing statement at or before the closing? Again, a Florida lawyer’s eye on closing documentation can protect you and yours from excessive or inappropriate fees and costs.  Is the appropriate party paying for an item and have all expenses been collected and/or properly allocated between the parties?

19. Do you feel comfortable signing a 6-10 page legal agreement that your real estate agents says is “standard” or “customary” without an independent party giving you advice and guidance? A Florida lawyer can explain the impact of that agreement upon you, and will advise what you’re being asked or required to do under its terms.  Where is the deposit being held and what are the terms upon which it may be forfeited?  What happens if there are title issues?  How are they resolved?  Is there a seller disclosure form? When are the condominium documents going to be delivered to the buyer? Does the buyer know they can cancel the contract within 3 days of the receipt of the condominium documents?

Related Articles:

Big Changes In Florida Real Estate Closings: The HUD-1 Settlement Form Replaced With TRID

Duty to Disclose for Sellers in Florida Residential Real Estate Transactions – Are Florida Real Estate Buyers Protected by Florida Law?

Can You Sue a Florida Real Estate Agent for Fraud and Can You Recover Punitive Damages?

Fraud in Your Florida Home Purchase?: Water Leaks and Flooding In Your New Home

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Do you have questions or comments? Then please feel free to send Larry an email or call him now at (954) 458-8655.

 
 
 
 
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Comments

12 Responses to “19 Reasons To Hire a Real Estate Lawyer When Buying or Selling Florida Real Estate”

  1. Michael says:

    The question I have for you is can a Canadian purchase property in Florida under a corporation or is purchasing property limited to American citizens?. Also if we can purchase property, does it have to be in cash or can financing be arranged with Canadian credit.

  2. Hi Michael,
    We can’t answer specific questions on personal matters in blog comments; however, happy to chat with you if you’d like to call our toll-free number (above).
    Best,
    Larry

  3. Raoul Amstelveen says:

    Hi,
    I will close on a townhouse within 2 weeks in Homestead, FL. …..

  4. We cannot answer personal queries in blog post comments, so we’ve edited your comment to protect your personal information and ask that you give our office a call (see the toll free number above?) for a chat.

    Thanks,
    Larry

  5. Dinah Wood says:

    I am preparing to by a house in “as-is” condition for cash. Am I entitled to have a home inspector review the house before committing to the sale?

  6. Hi Dinah,
    We cannot answer personal queries in blog post comments, so we ask that you give our office a call (see the toll free number above?) for a chat.

    Thanks,
    Larry

  7. Lillian Moore says:

    Thanks for the article! I thought it was interesting that there is a possibility to have illegal additions or improvements on your home. When looking for a new home I would not have noticed specifically illegal additions that could possibly hurt my budget. Having a real estate lawyer there to guarantee what is going into the purchase of a home is quite comforting. I really appreciate your tips on having a lawyer’s help. I hope to apply these tips in the future.

  8. Skylar Williams says:

    I love your 19th point about signing that 6-10 page contract. I need someone who will read it for me and explain what I’m getting into. I’ve heard of people signing horrible contracts because they didn’t read it right. I’m thinking about buying a home soon, I’m going to need a lawyer for the journey.

  9. Mike Cooper says:

    I like the idea to ask about your security deposit when hiring an attorney. My wife and I have been planning on buying a new home for quite some time now. I think that I should find a real estate attorney that could properly understand our financial capabilities.

  10. Ivy Baker says:

    I liked that you talked about how it would be smart to know if a tenant needs to be evicted when you buy the house. That does seem like a good thing to use if you want to lower the price. It might be a good idea to have a settlement agent help out with this. After all, I would want someone who knows what they are doing to help me close a housing deal.

  11. Lauren Jones says:

    My sister and her husband are looking to buy a very old house, and she thinks it would be best to hire a real estate attorney to make sure the buying process goes smoothly. It is good to know that these lawyers can be beneficial if you are from out of town. I also like what was said about they can answer questions like, who will pay for transfer taxes and how much are they. My sister will be happy to learn of this information, thanks.

  12. Steele Honda says:

    I totally agree that when buying a property we should not ignore our guts and if we feel that something could go wrong based on the knowledge we have about the property it is better to ask for a professional help. My husband and I have decided to buy a house and to be honest, we have no idea what is going on in this market. Thanks for the tips, I hope that a specialist will help us to choose the best option!

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