SELLER REPRESENTATION
In a typical real estate transaction in Miami-Dade or Broward County, the most common parties are: (1) a lender or mortgagee (usually a bank) (2) a real estate agent representing the buyer; (3) a real estate agent representing the seller; and (4) a settlement/closing agent, which is usually a title company. Generally speaking, the title company makes sure that a seller has the rights to sell the property to a buyer; they do not provide representation to either party. However, since the closing agent (the title company) is usually selected by the buyer, this may lead towards a bias in the buyer’s favor. As a result, the seller may feel a lack of legal guidance during their transaction since neither the closing agent nor their real estate agent can provide them with legal advice.
Why should the seller have Attorney Representation?
One of the fees encountered by a seller in a real estate transaction is for the preparation of certain documents by the title company. However, if the seller retains an attorney, the attorney’s firm will prepare the documents at the same cost. In addition to a small fee charged by the attorney, for a relatively small investment the seller will have the added benefit of having an attorney represent their interests all the way through the property’s closing. Most sellers will see the value in the attorney’s review of the transaction’s contract and the closing statement. An attorney will examine both to ensure that the seller is both compliant with their responsibilities under the contract and that the charges reflected on the closing statement are indeed the seller’s responsibilities. Errors on the closing statement in the buyer’s favor can sometimes cause sellers hundreds or thousands of dollars.
If a seller were to retain an attorney for representation in their real estate transaction, the seller’s attorney will:
Selling your home is likely one of the largest transactions you will be a part of during your lifetime; you want to make sure everything is legally sound. Having seller representation will take the stress away from you and place it onto an attorney who is deals with real estate transactions daily; this will provide you with peace of mind knowing that the sale of your property was executed quickly, and without any hiccups or surprises. This is especially true if you are choosing to sell your home without a realtor in your corner. As experienced real estate attorneys, we reduce problems that arise during the closing process because we are well versed in the law. Our office has handled thousands of transactions, so we have likely encountered any issue that may arise before in the past.
At J. Perez Legal P.A., we have over twenty years providing seller representation for real estate transactions in Cooper City and all-over South Florida. Please call (954) 450-2585 today to schedule a consultation with experienced real estate attorneys. Please note that J. Perez Legal P.A. handles a variety of cases, so call now if you have any questions related to real estate including mortgage, foreclosure, modification, etc.
Why should the seller have Attorney Representation?
One of the fees encountered by a seller in a real estate transaction is for the preparation of certain documents by the title company. However, if the seller retains an attorney, the attorney’s firm will prepare the documents at the same cost. In addition to a small fee charged by the attorney, for a relatively small investment the seller will have the added benefit of having an attorney represent their interests all the way through the property’s closing. Most sellers will see the value in the attorney’s review of the transaction’s contract and the closing statement. An attorney will examine both to ensure that the seller is both compliant with their responsibilities under the contract and that the charges reflected on the closing statement are indeed the seller’s responsibilities. Errors on the closing statement in the buyer’s favor can sometimes cause sellers hundreds or thousands of dollars.
If a seller were to retain an attorney for representation in their real estate transaction, the seller’s attorney will:
- As we mentioned earlier, prepare the closing documents, which typically includes affidavits, the bill of sale, the transfer deed, and the closing statement (which is especially important to make sure that the seller is getting the full amount to which they are entitled);
- Review the contract (sometimes called a Purchase Agreement) with the seller to make sure that all of their desires are accurately reflected on the document;
- Provide the seller with unlimited consultations to answer any and all questions ranging from the contract to illegal additions to a property to title requirements; and most importantly,
- Deal with all third parties, such as a homeowner’s association or condominium associations.
Selling your home is likely one of the largest transactions you will be a part of during your lifetime; you want to make sure everything is legally sound. Having seller representation will take the stress away from you and place it onto an attorney who is deals with real estate transactions daily; this will provide you with peace of mind knowing that the sale of your property was executed quickly, and without any hiccups or surprises. This is especially true if you are choosing to sell your home without a realtor in your corner. As experienced real estate attorneys, we reduce problems that arise during the closing process because we are well versed in the law. Our office has handled thousands of transactions, so we have likely encountered any issue that may arise before in the past.
At J. Perez Legal P.A., we have over twenty years providing seller representation for real estate transactions in Cooper City and all-over South Florida. Please call (954) 450-2585 today to schedule a consultation with experienced real estate attorneys. Please note that J. Perez Legal P.A. handles a variety of cases, so call now if you have any questions related to real estate including mortgage, foreclosure, modification, etc.