Misconceptions Regarding Attorneys and Their Role in Real Estate Transactions (Part 2 of 3)
As discussed in the previous article, there are many reasons why a buyer or seller would choose to have a Fort Lauderdale title examination & insurance attorney represent them at closing and manage the transaction.
However, there are still a lot of misconceptions regarding Fort Lauderdale title examination & insurance attorneys and their role in real estate transactions in the state of Florida. These misconceptions sometimes result in real estate buyers and sellers missing out on the valuable legal advice and representation that only a Fort Lauderdale title examination & insurance attorney can provide.
A Fort Lauderdale real estate attorney is similar in cost to a title company in many cases
A major misconception is that retaining a Fort Lauderdale title examination & insurance attorney for a closing is much more costly than using a title company. This is not true, as many title companies charge extra fees for title work that can end up being more than what an attorney would charge for a closing.
Some assume that the cost of title insurance from a Fort Lauderdale title examination & insurance attorney will be more than a title company, which is also not true at all. The cost of title insurance from an attorney is exactly the same as a title company, and it is the same all throughout Florida.
An attorney will help make the closing go more smoothly and efficiently
Some think that working with a Fort Lauderdale title examination & insurance attorney will slow down the closing process but this is not correct. Fort Lauderdale real estate attorneys always want the transaction to close as efficiently as possible, but they will also catch potential issues with the closing and address them before they become serious problems.
Title companies are often not owned by Fort Lauderdale title examination & insurance attorneys
A misconception is that every title company has to be owned by a Fort Lauderdale real estate attorney. This is not true, as there are several title companies owned only by licensed title agents. The license for a title insurance agent only requires a 40 hour course. Fort Lauderdale title examination & insurance attorneys must attend law school a minimum of 3 years and most have additional experience.
A title company cannot handle every potential closing situation
Another common misunderstanding is that a title company can handle every type of closing situation. There are many circumstances where a title company cannot offer assistance such as any type of title dispute, various tax situations, contract modifications or disputes, and several other potential legal situations. These circumstances are more common than one might think, and are a good reason to work with a Fort Lauderdale title examination & insurance attorney from the start.
Call an experienced Fort Lauderdale real estate attorney at Schecter Law today who can represent you on any type of real estate closing you might