In Florida we are currently experiencing a real estate boom. A good economy and low interest rates have pushed the real estate market to levels we have not seen in years. This is especially apparent in the Tampa Bay area, as many listings seem to be scooped up in a matter of days, even hours, after they have gone up. As a result it is a good idea to be informed, regardless of whether you are buying or selling a home, rental property or commercial property.
There are a lot of good real estate agents out there. I know and work with a good number of them. For an average and uncomplicated purchase or sale of a property, a good real estate agent should be able to assist you with most of the steps necessary to get this taken care of properly. Unfortunately, not all real estate agents are created equal. Dealing with an unqualified and/or inexperienced agent could not only cost you money or cause you to miss out on your dream home; they could potentially expose you to legal action. This is why it is often a smart idea to seek the guidance of an experienced real estate attorney when engaging in a real estate transaction.
An attorney can instruct you in the various types of deeds that exist in Florida, and let you know which is best for your particular situation. They can help negotiate better contracts with lenders. They will also make sure that your real estate agent is handling your transaction not only legally, but also effectively. As previously stated, not all real estate agents are created equal. An experienced and skilled agent can provide you a treasure trove of great information, but they can NEVER give you legal advice. That is not only irresponsible, but also illegal. Only a licensed attorney can provide legal advice.
Another very important aspect of real estate transactions is ensuring that the title being transferred has no prior issues, which can be accomplished by getting title insurance. Not getting proper title work can cause you major headaches down the road after your purchase, and in the worst of cases cause you to lose the property you recently went through the trouble of purchasing. You always want to make sure that you hire the services of an effective title agency that you trust, if you have any say in the matter. An experienced real estate attorney can help ensure that your title is handled properly, that the closing goes smoothly, that you do not have escrow issues, and in the event you have an issue with an agent, that you are made whole and they are held accountable. They can also help recommend the right agent and title agency for your particular situation.
There are countless different issues you might encounter when engaging in a real estate transaction. Utilizing the services of an experienced real estate agent can provide some peace of mind during what can often be a stressful time. If you have any additional questions or would like to set up an appointment for assistance related to a real estate matter, please contact the Law Office of Gian-Franco Melendez, LLC at 813-841-6553 or GMelendez@attorneymelendez.com. If you would like to learn more about real estate law, check out the podcast below.