Legal Guidance For Florida Real Estate Closings
Closings are some of the most critical parts of real estate transactions. It’s when buyers and sellers finalize the sale of the property. However, not every closing goes as planned. If you don’t know how to navigate them effectively, any mistakes you make can be costly.
Hiring counsel with extensive experience in real estate closings can put you at ease. At Korshak & Associates, P.A., our attorneys can help give you a thorough understanding of the circumstances surrounding your closing and help you make strategic decisions that keep your best interests in mind. You don’t need to worry about the “what ifs” of the process; we can help steer you in the right direction.
What Is The Real Estate Closing Process?
Buyers and sellers meet with their designated representatives and sign the appropriate paperwork to finalize the transfer of a property. Buyers also pay their down payment and, depending on the circumstances, the closing costs.
What Are Real Estate Closing Costs In Florida?
Closing costs typically cover any expenses involved in transferring property ownership. In Florida, closing costs can depend on many factors. On average, closing costs in the Sunshine State are anywhere from 2% to 5% of the property sales price. Buyers are usually responsible for the closing costs, but sellers can be too in some cases.
Are Real Estate Closing Costs Tax Deductible?
There isn’t a clear answer to this. It can depend on a lot of circumstances. If you have questions about deducting closing costs from your recent real estate transaction, speak to one of our attorneys today. We can help you figure out an appropriate and cost-effective option. Call 888-681-4389 to learn more.
Can Real Estate Closing Documents Be Signed Electronically?
While this was not common practice before, Florida and many other states now allow people to sign closing documents electronically.
What Do Real Estate Closing Attorneys Do?
Real estate closing attorneys can help buyers and sellers facilitate a fair and effective transaction. They can ensure their clients get the most out of the transaction and help them troubleshoot any last-minute challenges.
Why Hire A Lawyer For Your Closing?
Florida doesn’t require buyers or sellers to hire an attorney for residential or commercial real estate closings. However, having one can help facilitate a smooth transaction. Learn more about why hiring a lawyer for your closing can be beneficial:
It Can Save You Money Long-Term
You may hesitate to hire an attorney because you worry about the cost. However, if something unexpected happens at your closing, trying to handle these situations alone could cost you a lot of time and money you didn’t intend to spend. Whether a loan falls through, you discover a lien on the property or there’s an inspection issue, you could end up paying hundreds of thousands of dollars for these issues. Hiring a real estate attorney costs much less than any of these errors. And if you run into trouble, they can help you navigate all these situations and more cost-effectively.
It Can Reduce The Risks That Come With Closings
It can be easy for first-time buyers or sellers to make mistakes that cost you considerable time and money. However, hiring a good real estate lawyer can significantly reduce your risk of making those mistakes.
It Can Speed Up The Process Altogether
Closings can come with complicated paperwork and communication with lenders and title holders. If you’re buying a residential or commercial property for the first time, you may want a real estate attorney with experience and a thorough understanding of handling these processes. They can reduce the time and guesswork it takes to manage them appropriately and accurately.
It Can Take The Title Work Of Your Shoulders
Many real estate attorneys can handle your title work for you. While title companies can also do this work, they don’t always offer the same dedication and professionalism that an attorney does. Title companies may be vested in completing your closing. However, they don’t always do it right or keep your best interests in mind.
It Can Offer You Protection Today And Tomorrow
Whether you buy or sell your property, it is one of your most valuable assets. Your interests surrounding its value today and tomorrow are worth protecting. A good real estate lawyer can help you effectively close on the property as a buyer. Plus, they can help you navigate any legal hurdles you encounter as a seller.
So much can go into a real estate closing, and navigating the process alone can be confusing and overwhelming. We are here to help you navigate your real estate closing with confidence. Contact our firm today by calling 888-681-4389. We look forward to speaking with you.
Hire A Firm With The Right Experience
When you’re looking for a real estate attorney to help with the closing process, during our first 15 years of practice, our firm was the in-house law firm for the realty group Keller Williams. Additionally, Stephen Korshak, one of our lead attorneys, used to work as an instructor for licensing brokers in Chicago. These experiences give our firm a unique perspective on every case we handle, giving our clients a competitive advantage in their real estate negotiations and disputes.
Approach The Closing Process With Clarity– Call Today.
Real estate closings can be confusing, time-consuming, and, in some cases, expensive. However, they don’t have to be. The lawyers at Korshak & Associates, P.A., are here to provide clarity and confidence about the closing process you deserve. Schedule a consultation today by calling 888-681-4389 or completing our contact form.