How a Florida Real Estate Lawyer Can Help You
Each and every state and territory within the United States has its own set of laws. Laws tend to differ across state lines, due to each state being unique in ways such as geography, culture, and population. Real estate laws are no exception to this difference. Florida real estate lawyers are well versed in the real estate laws in the state of Florida. Not only can they assist in the real estate buying process, but they can also help when real estate laws are broken. If you are looking to buy or sell real estate in Florida, working with qualified Florida real estate lawyers is crucial.
The Home Buying Process
The term real estate refers to the buying and selling of real estate or property. Buying real estate can be a long and detailed process. It is a large investment, and finding the right piece of real estate to buy can take some time. Buying real estate can also be very rewarding. With the purchase of real estate, come the joys and rights of ownership. No matter if it is your first time or your 5th time buying real estate, there are several important steps to take in order to make sure that you are not making an investment outside your means. There are also important steps that must be taken to ensure that you are properly following the law and applicable real estate guidelines. Below are 9 steps to help you throughout the real estate buying process:
Research the Market
The first thing you should do once you have decided that you want to buy real estate is to do your research. Even if you are already live in the area, you should research the area in which you want to buy, and you will want to research the area’s housing market. Look at properties you would be interested in purchasing and look to see how long they stay on the market, how much they are being bought for, and how certain selling prices may differ from purchasing prices. By doing your research, you will have a much clearer idea of what you can get for your money.
You should have an accurate understanding of how much you can truly afford before you consider purchasing property. If you do not determine this early on and ahead of time, it can lead to searching beyond your means, which in turn can cause problems such as trouble paying your monthly mortgage. Mortgage bankers prequalify and pre-approve potential home buyers, and they will be able to tell you just how much you can afford reasonably, based on your income and financial history.
Find a Real Estate Agent
There are numerous real estate agents and real estate agencies nearly everywhere throughout the state of Florida. With so many agents and agencies to choose from, finding the right real estate agent can be a challenge. However, you should take your time when looking for a real estate agent. Before hiring an agent, you should always make sure you feel completely comfortable working with them and that you fully trust them. They will be the one showing you homes and helping you through the rest of the process, meaning it is a good idea that you get along with them.
Go House Hunting
House hunting is often a time-consuming yet all-important part of the process. It can be challenging but with the right real estate agent, it can be an enjoyable experience. Your agent should take time to allow you to look at homes that suit your needs and are in your budget. In some markets, it is a bit more difficult than it is in others. Some areas have more real estate available, while others may be fairly limited.
Make an Offer
Once you have chosen the property that you want to own, your real estate agent will work with you to come up with an offer that is reasonable. They are the expert in the housing market; therefore they should have a firm idea of what the sellers are likely to accept.
Have the Real Estate Inspected and Appraised
Once an offer has been sent to the sellers and they accept it, work with your real estate agent to set up the inspection and the appraisal. The inspection makes sure the plumbing, roofing, electrical, and other aspects of the real estate are up to code. The appraisal determines a fair selling price for the home. This is done to make sure the offer that was made and accepted is fair by both parties. Inspections and appraisals may sometimes happen together, but not always.
Select a Loan with a Mortgage Banker
Your mortgage banker can help you with deciding which loan to choose, with a reasonable interest rate, and reasonable payments.
Sign All of the Closing Documents
This is the step where Florida real estate law firms come into play. There are a lot of important documents that need to be signed at real estate closings, therefore having the help of a Florida real estate lawyer is in your best interest. These documents officially and legally transfer the property from the previous owner to you. Different documents serve different purposes; some document the seller’s intent to sell, while others transfer the title. During the closing, you will also sign the loan paperwork. A real estate closing attorney is usually involved in this process because there are legal documents and contracts involved.
Real Estate Litigation
Buying a home or piece of real estate can be a fun and rewarding time, but it can also be stressful. Unfortunately, the process can be made more stressful if someone does not do as they said they would. There are many different types of real estate disputes, but the most common are breaches of real estate purchase or sale agreements, failure to disclose certain defects of the real estate, and wrongful conduct by a real estate agent or a mortgage banker.
The documents that are signed during closing are legally binding contracts. Therefore if either party does not uphold what was agreed upon in the documents legal action can be taken against them. Most commonly seen is the seller refusing to transfer title, even though they signed a contract saying that they would. Another very common real estate dispute that often leads to litigation is when the seller fails to disclose hidden defects.
In the closing process, the seller is required to disclose any defects, major or minor, to the buyer. When they do not disclose these defects, legal action can be taken against them. Legal action can also be taken when a real estate agent or a mortgage broker does not act in the best interest of their clients. If you find yourself in the middle of any of these disputes your best bet is to contact an attorney that practices Florida real estate litigation.
Where to Find a Florida Real Estate Lawyer
Not only is Florida rich in available real estate, but it is also rich in Florida real estate lawyers. This may make the process of finding the right lawyer challenging. Just as it is important to get along with your real estate agent, you should also feel comfortable with your real estate attorney as well. You should find an attorney that you trust because they will be the ones combing through your closing documents making sure they say all of the right things. If a real estate dispute arises your attorney will be speaking on your behalf, working to resolve the issue. No matter what the issue, you need an attorney you can trust and get along with.
Finding a trustworthy and personable attorney does not have to be a chore. There are many great attorneys that practice real estate law. A team of these great Florida real estate lawyers is located in Clermont Florida. At the Law Offices of Bret Jones, P.A., you will find trustworthy and personable Florida real estate lawyers willing to work for you.