Commercial Real Estate

Do I Need To Read All Of The Documents At Closing

It’s a good idea to have an experienced Florida real estate attorney review your documents prior to the closing. That way if you have any questions about what a document means or whether interest rates or closing costs are correct, those items can be addressed in advance by your attorney, so on the day of closing everything can go smoothly.

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Does It Make Any Difference How I Take Title To Commercial Real Property

Absolutely, you can take title in a variety of ways. And it’s important, especially if you’re going to co-own property with another entity or another person. There’s different forms of ownership in Florida, and depending on what your goals and needs are, talking to an experienced real estate attorney can help you determine in which manner you should take title.

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How Do I Choose An Attorney

It’s important to review an attorney’s experience and qualifications in the area which you’re intending to hire them. For instance, if you’re looking for a residential real estate attorney, have they been involved in a lot of real estate deals? What experience do they have with real estate litigation? It’s also a good idea to have someone you’re compatible with personality wise. The attorney-client relationship is very important, and attorney and client must trust each other to come up with the best outcome.

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How Do I Find Out If I Am Getting Good Title

It’s important when purchasing real estate that you have a title search done. This is something that an experienced Florida real estate attorney can do or a title company. Essentially, they’re going to research the history of the property to make sure there are no claims on the property or anything that could cloud the title. You can also have the option of purchasing a title insurance policy, which will insure you up to the purchase price that there are no claims on your property from any past mortgage or lien holders.

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Do I Need An Attorney If I Already Have A Real Estate Broker

Absolutely, in my opinion, the attorney and the broker play two separate roles in the transaction. A broker comes with the experience of real estate transactions in general, but you need an attorney to make sure that you’re covered on the legal side, that you’re meeting the deadlines and that you’ve incorporated everything into the contract that’s necessary to protect you.

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A Building I Am Considering Is Occupied By Several Commercial Tenants If I Buy The Building Can I Evict Them

If you purchase a commercial building or investment property with tenants already occupying the property, you’re most likely going to have to honor the current leases that are in place. You can have a real estate attorney review the leases during your due diligence process, but it’s important to understand that you have to honor the rights of the tenants that are already in the building.

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Can A Real Estate Broker Place A Lien On My Property

Typically, a real estate broker cannot place a lien on your property when it comes to residential real estate. However, in commercial real estate, real estates brokers have the right to lien a property if you do not pay the commission. So its important to consult with an attorney to determine whether your agent has the right to lien your property for the commission.

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Can I Rescind A Purchase Of Real Estate After Closing

There’s no right of recision in the state of Florida after a real estate closing. The only time you may have a right of recision is when you’re refinancing or getting a second mortgage on a property, you typically have a three day right of recision but in a typical real estate purchase once you close the transaction is through and you cannot rescind the agreement after closing.

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Can I Sign All The Papers In Advance And Mail Them To The Closing Or Have My Attorney Take Them To The Closing

Typically, as a seller of real estate in Florida, you can sign most of the documents in advance in your attorney’s office or by mail or federal express. On the buyer’s side, typically the documents are date sensitive, so the note and the mortgage typically must be signed on the day of closing.

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Can Someone Go To The Closing For Me

In the case where you cannot attend closing, a real estate attorney can prepare what’s called specific power of attorney specific to that real estate transaction that will typically let … The lender will permit power of attorney or an agent to act on your behalf if for some reason you can’t attend the closing. These documents must be prepared well in advance before closing, so if you think that you may not be able to attend closing, it’s important to address that situation upfront.

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