When you purchase real estate in Florida, you’re going to have a purchase contract between you and the other party. It’s important that you have an experienced real estate attorney draft this contract, or at a very minimum review the contract to explain to you what the contingencies are in the contract. Contingencies are things that have to occur for the purchase to move forward. For instance, you may have a financing contingency so that you can borrow money to buy the house. And then if you can’t borrow the money, you won’t have to purchase the home. There could be an inspection contingency to make sure that the house is exactly what you’re bargaining for. The important thing to realize is that this needs to be done on the front end. It needs to be done when the contract is being drafted, and an experienced attorney can help you put in those contingencies for your protection.

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.

Depending on the terms of the contract, the buyer may have the right to sue a seller for specific performance, if the seller refuses to close on the transaction. These terms are negotiated heavily during the negotiation phase of a purchase contract, and a licensed Florida attorney can assist you in making sure there are clauses in the contract to protect your interests.

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.

In Florida, the law does permit a real estate broker to act as a transaction broker, essentially representing both the buyer and the seller. In these situations it’s critical that a party retains the services of an experienced real estate attorney to make sure that their best interests are being represented.

Typically, the closing is performed by a third party such as a licensed Florida real estate attorney or a title company. The closing agent makes sure all the expenses of sale are paid, that the proper prorations are done, records all the legal documents, and then distributes the moneys at the end of the closing.

Most real estate contracts in Florida provide that occupancy will be granted at closing, but a real estate contract could say that the seller could reside in the property for a period of time following closing. It’s important to know what’s in the contract you’re signing and to consult a licensed Florida attorney if you have any questions about closing, or whether the seller can stay 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.

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.

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.