Buyer Representation

Some state laws require buyers and sellers to hire an attorney for a real estate transaction. Florida is not one of those states, but it is still a good idea for buyers to hire an attorney to represent throughout the process of purchasing Florida real estate. Learn more about how an attorney can protect your legal interests throughout the home buying process.

Once the parties have agreed on a purchase price, they are “under contract.” At that point, escrow is opened with a trusting law firm such as Costa & Associates, and the buyer deposits earnest money in escrow to show his or her intent to follow through with the purchase. The attorneys at Costa & Associates then perform a title search to be sure that the seller can provide “clear title” at closing and that title is free from encumbrances such as tax liens, old debts, or former spouses. Title must be clear in order for Costa & Associates to issue a title insurance policy. This insurance is a critical service that protects both buyer and seller in the event that a third party is later found to have a claim to the property.

During escrow, there are often disputes between buyer and seller. These disagreements might be over what repairs the seller will complete and whether they are completed appropriately. The parties might disagree about which one is in breach of contract if the sale falls through. All of these disagreements can lead to the sale being canceled, or the buyer’s earnest money being forfeited to the seller. It is important for buyers to have legal advice from an experienced real estate attorney who can help them avoid these outcomes.

Once the parties have agreed on a purchase price, they are “under contract.” At that point, escrow is opened with a title agency or firm, and the buyer deposits earnest money in escrow to show his or her intent to follow through with the purchase. The firm, or title company, then performs a title search to be sure that the seller can provide “clear title” at closing. Clear title is free from encumbrances such as tax liens, old debts, or former spouses. Title must be clear in order for the escrow company to issue a title insurance policy. This insurance is a critical service that protects both buyer and seller in the event that a third party is later found to have a claim to the property.

During escrow, there are often disputes between buyer and seller. These disagreements might be over what repairs the seller will complete and whether they are completed appropriately. The parties might disagree about which one is in breach of contract if the sale falls through. All of these disagreements can lead to the sale being canceled, or the buyer’s earnest money being forfeited to the seller. It is important for buyers to have legal advice from an experienced real estate attorney who can help them avoid these outcomes.

The experienced Miami real estate attorneys at Costa and Associates have helped many Miami property buyers protect their legal interests throughout the property buying process. We can help you have a successful closing without forfeiting your earnest money or property rights in your new investment. Call (305) 827-0100 to schedule your free consultation.