Florida Real Estate Attorney Guides Clients Through Closings
Orlando Real Estate Law Firm Experienced With Closing Process
In the state of Florida, real estate is a large part of the economy, with a great number of residential and commercial closings happening on a regular basis. Although Florida real estate attorneys have a practical understanding of the closing process, many of the other parties to the transaction may or may not have the same knowledge.
To ensure your real estate transaction goes smoothly, contact Nishad Khan, P.L. for experienced legal assistance.
Real Estate Closing Checklist
Typical Florida real estate closings follow these basic steps:
- After both the buyer and seller have signed a purchase and sale contract and the initial escrow deposit has been made, the lender or the buyer’s real estate agent will submit a request for title to the buyer’s attorney.
- Upon receipt of the request for title, the closing attorney will order tax information, loan payoff statements, surveys, and homeowner or condominium association estoppel letters.
- A title search is made of the public records in the Florida county where the property is located. Records searched include deeds, mortgages, lis pendens, judgments, easements, restrictive covenants, liens, divorce settlements, and any recorded documents that might affect the title to the property.
- After any title clouds have been cleared and the parties are prepared to close on the transaction, the closing attorney will prepare all the necessary documents, including the deed, bill of sale, affidavits, FIRPTA statement, and closing statement.
- When all the closing documents have been approved, the closing is scheduled.
- During the closing, the attorney oversees all aspects of the closing, and answers any questions the parties may have. The seller signs the deed and other seller documents, and the buyer signs the buyer documents as well as the loan documents, and both parties sign the HUD-1 settlement statement.
- After the closing, the seller, real estate agents, attorneys, and other parties are paid and the documents are recorded in the appropriate county.
It’s important to note that for many closings, you don’t even need to be physically present. Your attorney can handle most of the paperwork — another good reason to work with an experienced real estate law firm.
Your Real Estate Lawyer Guides You Through the Closing Process
Are you preparing to close on a real estate transaction and need help from an experienced real estate lawyer? Orlando attorney Nishad Khan P.L. has been involved in hundreds of Florida real estate closings, and he is ready to assist with your transaction as well. Contact our firm online or call (407) 228-9711 to schedule your free initial consultation today.