Real Estate Closings (Commercial & Residential) Attorney Serving Santa Rosa Beach, FL
Every real estate closing is unique; some are complicated, while others are straightforward from the start. The expertise, competence, dedication, and experience of the closing agent handling the settlement process may often mean the difference between a smooth and efficient closure that closes on schedule and one that is either delayed or breaks apart at the table. Count on the dedicated experience of a Santa Rosa Beach real estate closing attorney at Moorhead Law Group when you need legal guidance.
Our skilled team of legal professionals has the capabilities and resources necessary to properly oversee the real estate closing process and properly complete the deal, whether that is a commercial or a residential real estate closing.
What is the Real Estate closing process in Florida?
Every real estate transaction necessitates a “closing,” which is the transfer of ownership from the purchaser on a fixed date. The majority of the work required in a closing, however, is completed before the actual transaction.
Because of the numerous processes that must be followed, even simple property purchases might take up to 45 days to complete. The buyer creates an initial escrow report once the purchaser and seller have concluded a purchase agreement. Following the deposit of escrow monies, the buyer’s lender (if the purchase is funded) or real estate agent (if the buy is cash) will request title information from the purchaser’s attorney.
Attorneys handle the paperwork by requesting papers that provide critical information regarding the property, such as any pertinent tax records, loan payment statements, inspection reports, surveys, and much more. An attorney will usually request an independent title search from an insurance underwriter, who will confirm that the property is free of encumbrances. Liens, divorce settlement agreements, and other arrangements that might obstruct the transfer of title are examples of encumbrances.
The title inspection step begins when the attorney receives the report from the insurance underwriter. Based on the facts in the title report, the lawyer subsequently makes a title commitment to the buyer (and, if necessary, to the lender). The seller’s legal ownership of the property will be validated and any existing debt on the property will be noted by the attorney.
Why is it important to hire a Santa Rosa Beach Real Estate Closing Attorney in the presence of a realtor?
The “As Is” Residential Contract for Sale and Purchase, authorized by The Florida Realtors and The Florida Bar, is the most widely utilized contract. All parts of the real estate transaction are governed by the Purchase/Sale Contract, including the price, critical dates, any covenants or limitations, disclosure of easements, and recognition of any faults and distribution of liability for such deficiencies. While Florida realtors are likely aware of all parts of these contracts, they are forbidden from giving either party legal advice on the implications or outcome of any specific contract or negotiating an offer.
Contact our Real Estate Closings Attorney in Santa Rosa Beach Florida
Purchasing real estate in Walton County, FL is sometimes more difficult than purchasing other forms of property. A real estate transaction has far-reaching financial and legal ramifications, and it may be one of the most important choices a person or company makes in their lifetime. As a result, it is critical to engage a real estate closing attorney before entering into any real estate purchase or sale transaction to ensure that your legal rights and interests are safeguarded.
Before you sign a purchase contract or a mortgage application, consult with Moorhead Law Group in Santa Rosa Beach, FL, to ensure your legal protection from beginning to end in a real estate closing. You’ll be doing yourself a favor by ensuring that your property purchasing or selling process goes as smoothly as possible and that any potential issues are addressed before closing. Contact us today at (850) 608-0112, or fill out our convenient online form. Our legal professionals are also proficient Santa Rosa Beach probate attorneys and have a wealth of experience related to all phases of real estate law.