South Florida Real Estate Lawyer versus a Title Company (Part 1 of 3)
In the state of Florida both attorneys and title companies are allowed to issue title insurance. In Florida it is not required to hire a South Florida real estate lawyer for a real estate closing, but there are several distinct advantages to working with one.
Title companies are very limited in the services they can provide and are legally only allowed to conduct the closing. They cannot offer any legal advice or assistance with contract negotiation and review. They also cannot offer legal assistance with the many potential disputes and issues that can arise.
Working with a South Florida real estate lawyer can save you money in a dispute
A buyer or seller may have to retain a Fort Lauderdale real estate lawyer after a dispute arises no matter what. If a title company has already been paid, it may be wasted money, as a South Florida real estate lawyer could have provided the exact same services of the title company PLUS legal advice at a similar if not more affordable cost.
There are several junctions during a real estate closing where legal advice can be pertinent, and a Fort Lauderdale real estate lawyer will often offer what amounts to free legal advice during the closing process if there are only minor issues. This unique benefit would not be available with a title company.
Of course if there are major issues with the transaction there may be additional charges, but those charges would be incurred regardless. It is usually much more affordable to add a few hours of consultation time with a South Florida real estate lawyer who was selected from the beginning — as opposed to having to pay a title company first and then retaining a lawyer.
A Fort Lauderdale real estate lawyer can do everything a title company does plus offer legal advice
It’s never a good idea to assume that every transaction will go smoothly. In a litigious world, legal disputes commonly arise during real estate closings. There may also be questions related to IRS filings, issues regarding defective titles, title disputes, contract disputes and many others.
A title company is not permitted to assist with any of these legal and tax issues. A South Florida real estate lawyer is capable of providing all of the same services as a title company but with the extra benefit of offering assistance with legal and tax problems. In most cases it makes sense to hire a Fort Lauderdale real estate lawyer from the beginning and avoid having to pay the extra money to hire both a title company and attorney.
Contact an experienced South Florida real estate lawyer at Schecter Law today who can represent you on any real estate transaction or closing you might need and ensure your rights and interests are protected.