Real Estate Closings

Real Estate Closing

Real estate closings have become increasingly complex over the years.  When you are getting involved in a real estate transaction as either a buyer or seller, it is important that you use an experienced real estate attorney that is Board Certified by the Florida Bar in real property law.  With almost thirty years of real estate law experience and having represented buyer and sellers in over 15,000 real estate transactions, you will benefit from Steve Greenberg’s experience in all aspects of your real estate transaction from Contract through closing.

While you have many choices as to who to use to handle your closing, experience and service is what really matters.  Mr. Greenberg and Ms. Coldiron have paralegals and legal secretaries on his staff providing effective and timely service to his clients. Furthermore, Mr. Greenberg and Ms. Coldiron’s Director of Marketing, Linda Witt Aloan, who holds the designations of Certified Paralegal, Florida Certified Paralegal, and Florida Registered Paralegal, is available to clients and Realtors after hours to assist in providing answers requiring immediate attention.

Title insurance premiums are established by statute and most real estate attorneys are charging no attorney’s fee to represent the buyer in the closing process when the attorney issues the title insurance.  In fact, sometimes it is even less expensive to use an attorney than a title company.  So, why use an attorney for your transactions?  Here are just some of the benefits:

  • An attorney can review the Contract which is prepared by the Realtor on behalf of the buyer.  Oftentimes, suggestions are made that would significantly benefit the buyer.
  • There are many boilerplate contingency forms available to Realtors.  Sometimes, however, the particular circumstances require a carefully drafted contingency involving significant legal implications.  An attorney can draft the contingency – a title company cannot.  It is of great benefit to buyers to have this additional resource.
  • It is common for issues to arise as a result of the home inspection.  The legal interpretation of the Contract and the specific rights and obligations of the parties need to be addressed and sometimes legally enforced with the assistance of the attorney.
  • There are significant consequences on how the buyer takes title to real property.  Legal advice can and should only be given by an attorney.  The manner in which title will be held can have a great impact on homestead, estate planning issues, etc.
  • In the event of a property defect detected during the final walk through, an attorney can draft a complete and thorough escrow agreement providing for monies to be held in escrow from the Seller’s net proceeds from the sale of the property to correct the problem.  If the escrow agreement is not drafted properly, there may be disagreement between the buyer and seller as to the disbursement of the escrow funds, oftentimes leading to litigation.  Title companies and some attorneys not specializing in real estate typically have a simple form with blanks to be filled in for the escrow agreement.
  • It is sometimes beneficial for the buyer to create an entity to take title to the real property, e.g. trust, limited liability company, partnership, limited liability partnership, corporation, etc.   While the fees and costs of formation of the entity would be charged to the buyer above and beyond the required title insurance premium, the decision as to whether to create one of these entities for the buyer is an important legal decision and involves legal advice not permitted to be given by a title company.

These are only a few examples of why a real estate attorney should handle your real estate closing. As additional credentials, a real estate attorney certified by the Florida Bar in real estate law should give the buyer some comfort in knowing that they are dealing with an attorney specializing in real estate transactions.