A successful real estate transaction does not occur at the closing table. It begins with a properly executed purchase agreement, is guaranteed with a thoroughly researched title review, and is secured by financing appropriate to the terms of the sale. Have you considered why you may need a Florida real estate attorney watching your back.
Why You Need an Experienced Florida Real Estate Attorney?
With the profound changes in the real estate market over the past few years, it is to your advantage to hire an experienced Florida real estate attorney, no matter which side of the closing table you will sit on.
In your real estate transaction, who is watching your back by looking after your exposure to lawsuits?
Did you know a title company cannot prepare a contract; give you legal advice on what the contract says; or advise you of your legal rights under the contract. Most title company employees are not educated on real property law, they are simply appointed as an agent of a larger underwriter who allows them to insure and close the property.
It is unfortunate but many people only seek legal help in a panic when something goes wrong…
They signed an “as is” contract and the house has faulty electric – the buyer did not obtain financing and the seller has purchased a new house and are packed – the seller put $50,000 earnest deposit down, without looking at the property, and now doesn’t want to close – the buyer has done their due diligence, obtained financing at a good rate, packed, ready to move and five days before closing finds that the seller does not have marketable title – buyer and seller find out day of closing that the seller is upside down on their mortgage and can’t come up with the funds to close….. and the list goes on! The good news from these horror stories is that the clients now realize we can prepare their contract, advise them of their due diligence period, recommend a reputable home inspector, lender, surveyor, and termite inspector while making sure the title is marketable when the contract is signed.
Real estate closings are held everyday but it only takes one bad one to make you realize you need an attorney to represent you. Closings are facilitated through our office by educated staff, overseen by an attorney, and closed without mishap. When your Realtor presents a contract to you, it says “consult an attorney”. Ask yourself why these instructions are offered as part of every real estate transaction?
Using a Florida LLC for Real Estate Ownership
Have you considered how your Florida real estate investment will be titled? Sophisticated investors make avid use of the flexibility and asset protection of a Florida limited liability company for real estate investing. Yet, “mom and pop investors” often invest by holding in their personal names, thus risking unnecessary exposure to lawsuits from contractors, buyers and tenants.
If you are an investor renting or flipping real estate. You need to consider your asset protection strategy. Risks can arise with improperly prepared leases or other documents such as financing agreements, easements or other title issues.
Including Your Florida Real Estate in Your Florida Estate Planning
Have you considered how your Florida real estate will pass to your heirs upon your death. This is just one aspect of making sure that your real estate is properly included within your Florida estate plan. Without a proper estate plan, your estate could be tied up in lengthy, expensive Florida probate proceedings. However, these needless complications can be avoided by using a Florida LLC and/or a Florida revocable living trust and other strategies such as a proper Florida LLC Operating Agreement.
As a full service real estate attorney, we offer rare experience in all of the above areas.
Contact us today to get started OR for a complimentary review of your real estate holdings (subject to conditions).
Steven Gibbs is a Florida real estate attorney who provides complete Estate Planning, Business Planning, Asset Protection, Elder and Medicaid Planning, Real Estate, Probate and Trust Administration legal services throughout the greater Fort Myers, North Fort Myers, Cape Coral, Estero, Bonita Springs and Naples geographic areas and most legal services are available statewide in Florida.
The Gibbs Law Office was founded by Steven Gibbs in January 2009 upon the commitment to provide client-centered legal services.